Alphathena

Alphathena is a financial technology company that provides an AI-enhanced, SaaS platform focused on direct indexing and personalization for Registered Investment Advisors (RIAs), wealth managers, and fintech platforms. Founded in 2020 by Mohan Naidu and Tushad Driver, the Chicago-based firm was created to address a gap between technological advancements and their adoption within the financial services industry. Naidu, the CEO, has a background in investment research and technology, holding an MBA and a CFA Charterholder designation, with previous roles including Managing Director at Oppenheimer. CTO Tushad Driver contributes two decades of experience in software development, technology consulting, and product management, having held senior positions at firms like PwC Strategy and GE Healthcare.

The company's core offering is a cloud-based operating system that enables financial professionals to build and manage personalized investment portfolios. This is delivered through both a web application and an API-first infrastructure, allowing for seamless integration into clients' existing workflows and custodial accounts. Key features of the platform include the creation of custom indexes, automated tax-loss harvesting, rules-based rebalancing, and portfolio transition tools. Alphathena's business model is designed to empower advisors to offer highly customized solutions in-house, serving as an alternative to outsourcing these complex functions.

Alphathena targets financial advisors, wealth managers, and fintech firms, enabling them to deliver personalized investment strategies at scale. The platform uses AI to enhance portfolio optimization and management. Since its founding, the company has achieved several milestones, including securing a total of $8.1 million in funding over four rounds. A significant Series A funding round in January 2024 raised $4 million, led by ETFS Capital and Hyde Park Angels (HPA). This investment is aimed at advancing product development and expanding distribution. The company was also named the “Best in Show” winner at the Morningstar Fintech Showcase in 2023.

Keywords: direct indexing, personalized investing, tax-loss harvesting, portfolio management, wealth management technology, financial advisors, RIA tools, investment management, fintech platform, custom indexes, portfolio rebalancing, AI in finance, SaaS, API infrastructure, wealthtech, asset management, investment research, portfolio optimization, automated investing, tax efficiency