AI-Native Wealth Manager Arca Secures $64M in Funding
Rron Rexha, a former product leader at Plaid, has come out of stealth mode with his new company, Arca, an artificial intelligence-native wealth management firm, and raised $64 million in funding.
That includes a $15.5 million seed round led by Venrock and a $48.5 million Series A round led by General Catalyst, with participation from Index Ventures and Venrock.
Arca has added Bill McNabb, the former chairman and CEO at Vanguard, Jason Wenk, CEO of Altruist, author Morgan Housel, Peter Crawford, the former chief financial officer at Schwab, Alex Tran and Nat Levy-Westhead at General Catalyst, and Nick Beim at Venrock as board members and advisors.
According to Arca’s Form ADV, the RIA was seeded through Granite Bay Wealth Management, a Portsmouth, N.H.-based firm founded by Joseph Skees and Paul Stanley in 2015. They were with Wells Fargo Advisors Financial Network prior to launching the firm.
In May 2026, Arca acquired Sandbox Financial Partners, a Bethesda, Md.-based RIA with about $682 million in AUM.
Arca now has over $1 billion in client assets and 28 employees across wealth management operations, product and engineering. The firm expects to use the funding to grow its client base, recruit advisors and develop the platform and brand.
Altruist is the RIA’s primary custodian, and they expect a meaningful amount of current assets to move to the Altruist platform by year-end. All new accounts will be opened with Altruist, and as Arca acquires firms or recruits advisors, those assets will be transitioned to Altruist.
According to an announcement, Arca aims to provide high-touch advisory services, and will use an AI infrastructure to handle the manual, repetitive work of an advisor.
“Rron understands that AI can help power the mechanics behind wealth management—but the financial advisor is ultimately the driving engine,” McNabb said in a statement. “The role of the advisor is paramount, and it’s what creates real, long-lasting impact. AI can help us do our jobs better, but it will never supplant the humanity of this profoundly personal profession.”
“People take immense pride in what they earn and deserve to feel financially secure,” Wenk said in a statement. “Rron is one of those rare innovators that not only intuitively grasps this reality but also boldly addresses this pain point head-on through his efforts at Arca. He’s building something remarkable that positions advisors to be steps ahead, offer the best possible financial advice, and make their clients feel genuinely taken care of—all while quieting the operational noise by leveraging the latest advancements in AI.”