London’s Clove Exits Stealth With €12M Pre-Seed Round

The round was led by Accel, with participation from Kindred Capital, Air Street Capital, and angels including Barney Hussey-Yeo (Cleo), Patrick Pichette (ex-Google, via Inovia Capital), Erez Mathan (GoCardless), and Gideon Valkin (ex-Monzo, ClearScore).

“A huge section of society has been failed by the financial advice industry, because it is only able to serve those that are already wealthy,” commented Christian Owens, CEO and Co-founder of Clove. “Today, less than one tenth of the UK population benefits from professional financial advice, and half of advisers have stopped servicing less wealthy clients.”

Clove’s €12 million pre-seed round makes it one of the better-funded early-stage players in Europe’s 2025 WealthTech scene.

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Other notable rounds this year include Belgium’s WARREN (€3 million for employee financial wellness), UK’s Wealthyhood (€3.6 million for its investment app), and Berlin’s NAO (€1 million+ to scale its co-investment platform).

Clove’s larger raise highlights strong investor confidence in UK-led solutions addressing the financial advice gap.

“We believe that everyone deserves great financial advice,” commented Alex Loizou, Chief Product Officer and Co-founder, Clove. “With Clove, we are seeking to break the traditional economics of financial advice by combining the expertise of human advisers with the efficiency of AI. Our goal is to make financial planning more accessible, affordable and effective than ever before, for everyone from young professionals and aspiring entrepreneurs, to growing families and those starting to think about retirement.”

Founded in 2025 by seasoned tech entrepreneurs Christian Owens (Paddle, UK payments unicorn, $300M raised, $1.4B valuation) and Alex Loizou (Trouva, acquired by Made.com), Clove aims to close the global financial advice gap.

The FCA estimates that receiving financial advice can boost wealth by up to 10% over subsequent years. Regulatory changes are supporting this mission by encouraging investment and innovation to narrow the advice gap.

Speaking about this issue in the UK, Chancellor of the Exchequer, Rachel Reeves, said: “Too many people are missing out on the support they need to build a more secure financial future for themselves and their families.”

In the UK, 13 million mass-affluent individuals collectively hold £3.8 trillion in investable assets. Among them, over 3.7 million are open to professional financial advice and have £50,000+ to invest. Additionally, the FCA notes 7 million adults with £10,000+ in cash savings may be missing out on long-term investment benefits.

“This isn’t an abstract problem,” added Owens. “If you’re not making the most of your money then life milestones such as buying a home, starting a family, setting up a business or retiring early will feel more out of reach than they need to be.”

“There is an urgent need to make financial expertise accessible to everyone,” said Matt Robinson, Partner at Accel. “The right advice could help people to buy a home sooner, invest with confidence, and retire on their own terms. Christian and Alex combine a proven track record of building and scaling businesses, with a deep passion for solving this problem. We’re thrilled to back their vision as they seek to create a new kind of financial institution and strive to empower people to take control of their financial future.”

About Clove

Clove is building the financial institution of the future, making money accessible, personal, and meaningful. By combining technology and human guidance, Clove empowers individuals to take control of their finances, close the advice gap, and make informed choices that shape their lives and future.