FinTech Aveni has raised a £12 million funding round led by PXN Ventures.

Aveni is the established market leader in AI adoption across UK wealth and banking, with over seven years of live deployments and product development.

Its products Aveni Assist, an AI productivity solution for advisers and operations teams, and Aveni Detect, its AI compliance monitoring tool, are deployed across the UK’s leading banks, wealth managers and financial advisers.

Underpinning both is FinLLM, Aveni’s proprietary suite of specialist small language models built for and utilising UK financial services data.

The round was supported by existing investors Puma Growth Partners, Lloyds Banking Group, Nationwide and Scottish Enterprise.