Zeplyn, an AI assistant for financial advisors has raised $3 million in its seed funding round led by Leo Capital, with additional investing from Converge and angel investors.
The funding will be used to support the company as it rebuilds wealth management from an AI-native perspective.
“60% of client data gathering happens over meetings, yet less than 25% of client meetings are properly documented because manual note-taking is time-consuming, distracting and prone to errors. Financial Advisors spend anywhere from an hour to an hour and a half per client meeting consolidating their notes and doing follow-up work. Many bring an associate advisor to these meetings just to take notes. Despite spending several manual hours, incomplete client data still remains a challenge as details fall through the cracks,” said Era Jain, CEO and Co-Founder of Zeplyn.
“Zeplyn enables financial advisors to streamline meeting admin from prep to follow-up, automatically updating client records while protecting PII. It is built to meet the unique workflow requirements and security and compliance standards of the wealth management community,” added Divam Jain, CTO and Co-Founder of Zeplyn.
“Zeplyn enhances our ability to deliver personalization at scale by providing a time dividend advisors can reinvest in client service and growth. Multiple team members have reported time savings of 30-60 mins+ on meeting follow-up activities. We selected Zeplyn not just for their omnichannel note-taking capabilities, but also for their long-term vision in supporting the overall client meeting process—the most frequent and expensive activity of an RIA,” said Trevor Chuna, CTO at Sequoia Financial Group.
“We are delighted to be partnering with Era and Divam as they build Zeplyn. Zeplyn brings the Wealth Management industry into the age of AI, enabling better outcomes for advisors, RIAs, wealth management firms and ultimately, investors. Zeplyn allows advisors to spend more time advising and elevating their client experience,” said Shwetank Verma, Co-Founder and Managing Partner, Leo Capital.
“Zeplyn is bringing AI into a real-world context and having a real-world impact. Unstructured data has long presented problems for the heavily regulated financial world, providing limited or time-consuming insights and posing potential compliance issues. But with Zeplyn, financial advisors can quickly extract accurate information while staying in compliance,” said Nilanjana Bhowmik, Converge Co-Founder and General Partner.
Co-founded in 2022 by Divam Jain and Era Jain, Zeplyn is an AI platform purpose-built for wealth management firms to streamline advisor workflows, cutting down manual work by more than 90%.
Zeplyn reduces the administrative burden placed on financial advisors, improving the advisor-client experience by automating time-consuming tasks and making client intelligence more accessible.
The company’s AI Meeting Assistant, designed specifically for financial advisors and wealth management firms, takes unstructured conversational data and turns it into highly accurate notes. Streamlining meeting prep, note-taking and post-meeting workflows while fulfilling compliance requirements, Zeplyn saves financial advisors an average of 10-12 hours per week.
Zeplyn provides a time-saving toolkit for advisory firms to prep for client meetings, accurately capture financial data and key client insights, and seamlessly trigger follow-up tasks – which, in turn, improves the client experience.
Zeplyn is a platform-agnostic solution that can be used across virtual and in-person meetings, as well as for dictations. It has multiple out-of-the-box integrations, including Salesforce, and wealth-specific CRMs such as Redtail, and Wealthbox, enabling it to plug into existing infrastructure and integrate with the advisor technology stack.
