PlannerPal raises £4.3m to turn adviser admin into client intelligence
What's the deal? PlannerPalDealroom has a profile for this one. Try Dealroom →, an AI workflow tool for UK financial advice and wealth management firms, has raised £4.3 million ($6 million) in a seed round led by Mercia VenturesDealroom has a profile for this one. Try Dealroom →. Existing investor Ada VenturesDealroom has a profile for this one. Try Dealroom →, which led the February 2024 pre-seed round, also took part, alongside strategic fintech investors and angels.
What does it do? PlannerPal started by removing admin: capturing client meetings, producing documentation, and updating the systems advisers use daily. It now connects information across conversations, documents, and core systems to improve the client data firms hold.
By the numbers: More than 250 UK advice firms use PlannerPal, including 20% of the country's top 20 wealth managers. Those customers — among them Canaccord WealthDealroom has a profile for this one. Try Dealroom →, ValidPathDealroom has a profile for this one. Try Dealroom →, and Amber RiverDealroom has a profile for this one. Try Dealroom → — are responsible for around £150 billion in client assets.
What's the money for? PlannerPal plans to expand its engineering and product teams, support customer rollout, and accelerate its client intelligence capabilities.
Why now? Advice firms have spent two years experimenting with AI and are now choosing long-term partners. "Those now choosing a long-term AI partner want an experienced and trusted team, backed by technology that works with their existing systems and client data, not another standalone tool," said Adam Lovell, investment director at Mercia Ventures.
What's the endgame? Chief executive and co-founder Mark Whitcroft frames the plan in two stages. "The first opportunity for AI was obvious: remove the manual work of capturing it. The bigger opportunity is making the client data firms already hold work better," he said.
PlannerPal is the only AI partner in the "Iress Partnership" and is built into Xplan, with single sign-on. It also integrates with IntellifloDealroom has a profile for this one. Try Dealroom →, CuroDealroom has a profile for this one. Try Dealroom →, PlannrDealroom has a profile for this one. Try Dealroom →, Microsoft Teams, Zoom, and SharePoint. The company has recently moved into the UK mortgage market, signing Charles CameronDealroom has a profile for this one. Try Dealroom →, one of the country's largest independent brokers.
The signal: At £4.3 million, PlannerPal's round sits in the top 4% of all-time UK seed rounds for mobile apps — a sign of investor appetite for AI tools that plug into the systems advisers already run, rather than yet another bolt-on.
Read more: modernlender.co.uk
Image credit: kenteegardin
