Financial institutions are increasingly moving beyond generic artificial intelligence tools toward systems designed around the complexity of banking, investment and advisory work. London founded startup Model ML is positioning itself at the centre of that shift, building AI infrastructure that can coordinate multiple models across sophisticated financial workflows. The company has now secured fresh backing from HSBC Asset Management as it prepares for another phase of expansion across the financial services industry.
HSBC Asset Management Invests
Model ML has received an equity investment from HSBC Asset Management’s venture capital strategy. The size of the investment has not been disclosed, but the company said the latest funding takes its total capital raised to more than $100 million.
The investment comes after Model ML’s $75 million Series A announced in November last year. That round was led by FT Partners and included Y Combinator, QED, 13Books, Latitude and LocalGlobe.
The latest backing gives Model ML additional support as it targets banks, asset managers and other financial institutions looking to deploy artificial intelligence across complex business processes.
HSBC Asset Management operates a global investment platform covering multiple asset classes and investment strategies. The firm says its approach combines research, technology and disciplined risk management, with more than $876 billion in assets under management as of March 2026.
AI Built for Financial Work
Founded by brothers Chaz and Arnie Englander, Model ML develops AI software specifically for financial services.
The company works with banks, asset managers, private equity firms, credit businesses and advisory organisations, helping them automate workflows involving research, analysis, due diligence, document review and the production of client materials.
Rather than relying on one artificial intelligence model, Model ML takes a model agnostic approach. Its platform can orchestrate different AI models and direct individual tasks toward the system best suited to the requirements of that particular workflow.
The company believes this flexibility is becoming increasingly important as new AI models emerge rapidly and businesses need to balance capabilities, cost, speed, security and accuracy.
Turning AI Into a Finance Teammate
Model ML describes its technology as a finance agent that works within the environments financial professionals already use.
Its platform can operate across applications including Excel, PowerPoint and Outlook as well as a company’s own systems. It connects internal and external data sources in real time and can perform tasks ranging from document analysis to research and workflow execution.
For asset managers, Model ML says its technology can monitor large volumes of documents, identify important signals and support tasks such as manager assessment and investment research. It also offers capabilities for investment banking, consulting, private equity and credit.
The aim is to reduce repetitive work while allowing financial professionals to spend more time on analysis, judgement and client relationships.
Growing Enterprise Traction
Model ML has said it has secured major professional services firms including Deloitte and PwC as customers, adding to its focus on large financial and advisory organisations.
The company’s latest investment comes as financial institutions increasingly explore vertical AI, where software is trained and structured around the requirements of a particular industry rather than built as a general purpose assistant.
For Model ML, the opportunity lies in embedding AI deeper into financial workflows, rather than simply giving employees another chatbot or productivity tool.
Scaling the Next Phase
The new funding will support Model ML’s growth as it seeks to expand its customer base among banks and asset managers.
The company is also continuing to develop its broader platform, including workflows, document review, chat, agentic dashboards and other tools designed to automate sophisticated financial tasks.
With more than $100 million raised, backing from major financial institutions and investors, and an increasingly AI focused financial services market, Model ML is now seeking to establish its technology as a core layer for how financial professionals research, analyse information and execute complex work.
