Aveni has raised £12 million in a funding round led by PXN Ventures.
Existing investors Lloyds Banking Group, Nationwide, Puma Growth Partners and Scottish Enterprise also participated.
The Edinburgh-based artificial intelligence fintech will use the money to develop its Unified Assurance Platform and support the launch of Agent Assure and Agent Approve, products aimed at assessing the conduct risk of AI agents that interact with consumers in financial services.
Aveni sells software to banks, wealth managers and financial advisers in the UK. Its existing products include Aveni Assist, used by advisers and operations teams, and Aveni Detect, a compliance monitoring tool.
The new products are intended to address a gap emerging as financial services groups test and deploy so-called agentic AI. Firms are under pressure to demonstrate that customer outcomes remain consistent regardless of whether interactions are handled by staff or software systems.
Aveni argues that oversight of AI agents is becoming a central issue for regulated firms as adoption widens. Agent Assure extends the monitoring approach used in Aveni Detect, allowing companies to review AI agent interactions alongside those handled by humans through a single system.
That structure forms part of what Aveni calls its Unified Assurance Platform, which combines adviser support tools, compliance monitoring and approval workflows for AI agents. The company also uses its own financial services language models, known as FinLLM, built on UK sector data.
Founded in 2018 as a University of Edinburgh start-up, Aveni has focused on wealth management, financial advice and banking. It says it has spent more than seven years developing products and running live deployments in the sector.
The round brings in PXN Ventures as a new lead investor while maintaining support from existing backers, including major financial institutions and Scottish Enterprise.
Joseph Twigg, Chief Executive Officer of Aveni, said the deal would help the company widen its product range as demand for AI oversight tools grows in financial services.
"The continued confidence shown by our existing investors is a powerful endorsement of the direction we're taking. We have spent seven years building the models, the experience and the regulatory relationships that make us uniquely qualified to solve the hardest problem in AI adoption right now: how do you assure the conduct of an AI agent interacting with a real consumer? Agent Assure is our answer, and this investment accelerates our ability to deliver our full platform at scale," said Twigg.
PXN Ventures said the investment reflects its growth outlook in AI tools tailored for advisers and regulated customer interactions. The firm invests in businesses across the northern UK, and the deal adds another Scottish company to its portfolio.
"Aveni is fast becoming financial advisers' go-to tool for helping them leverage AI in a safe and appropriate way. The team now has seven years of live deployments and proprietary models built within the UK financial services sector. Its infrastructure is answering one of the biggest questions in AI adoption: how to manage real client interactions and build trust, so advisers can focus on what they do best. We're proud to support Aveni through multiple PXN funds, including the Praetura Growth VCT, as it continues its growth journey and demonstrates the world-class fintech capabilities of the north of the UK," Alastair Moore at PXN Ventures said.
Regulatory focus
Regulators have made clear that firms will be judged on customer outcomes rather than on whether a human or a machine handled an interaction. That places greater emphasis on monitoring systems that can review both channels against the same standards.
Aveni is involved in the Financial Conduct Authority's Supercharged Sandbox programme and has created an Agent Assurance Expert Council focused on AI governance. It is also working with regulators and industry bodies on standards for AI use in financial services.
Puma Growth Partners, one of the returning investors, said Aveni is well-placed as financial institutions seek clearer controls over AI agents. The investor also pointed to the company's position within Scotland's technology sector.
"The impact Aveni is making in deploying AI into UK financial services is already significant, and we continue to see a substantial growth opportunity ahead. With agentic AI adoption accelerating and regulators rightly focused on consistent consumer outcomes, robust assurance for AI agents is rapidly becoming a core requirement for the sector. As a standout example of Scotland's growing strength as a technology hub, Aveni is well placed to lead this next phase. We are delighted to invest again from our Scotland office to support Joseph, Jamie, Professor Lexi Birch and the wider team as they scale the Unified Assurance Platform and launch Agent Assure," said Ben Leslie, Investment Director, Puma Growth Partners.
Lloyds Banking Group also reiterated its backing as both an investor and partner.
"Agentic AI represents a significant opportunity for financial services to enhance customer experience through more personalised interactions. Aveni is helping firms adopt this technology in a safe and responsible way. We're pleased to continue supporting Aveni's ongoing development through investment and partnership," Kirsty Rutter, Fintech Investment Director at Lloyds Banking Group, said.