Eunice has raised USD $8 million in seed and pre-seed funding in a round led by Moonfire and Speedinvest, with participation from Openspace.
The London-based startup is building due diligence software for regulated markets, an area of finance where many firms still rely on manual processes and fragmented documentation. Its system uses AI agents to analyse assets and produce structured, auditable reports, while keeping humans in the loop.
Eunice is already working with Coinbase, Crypto.com, Copper and Zodia Custody. It has also contributed to digital asset disclosure templates through the UK Financial Conduct Authority's regulatory sandbox.
The company is starting with digital assets, where exchanges and custodians face growing scrutiny over disclosure and governance standards. It argues that the same approach can be applied across broader alternative asset markets, where investors are under pressure to show how investment decisions are made and documented.
Manual burden
That pressure is rising as private markets grow and institutional investors demand clearer records on valuation, diligence and risk. Pension funds, endowments and funds of funds are among the allocators that need stronger documentation and governance processes when assessing complex opportunities.
In many cases, those tasks are still managed through a mix of spreadsheets, internal notes and separate review processes. For compliance teams and investment professionals, this can make it difficult to show how a decision was reached, especially in markets where regulatory expectations are shifting.
Eunice argues this gap is becoming more significant as alternative assets reach broader investor bases. It is positioning its product as infrastructure that standardises how investment decisions are assessed, recorded and defended, rather than as a tool to replace professional judgement.
Founder and Chief Executive Yi Luo started the business after working in fintech and venture capital. She was previously the founding CSO at FreeUp, which was acquired in 2019.
Chief Technology Officer Philip Lam joined last year. He previously co-founded AI startup Nex, which reached Series B, and later served as Vice President of Engineering at GoodNotes, where he helped scale the app to more than 30 million users worldwide.
Investor backing
The round also included angel investors from technology, fintech and digital assets, including founders and executives linked to Anchorage, ComplyAdvantage, LendInvest, Coinbase, Fidelity International, NALA and Voi Technology.
The investor list reflects Eunice's focus on markets where regulation, financial infrastructure and software intersect. For early-stage companies in this segment, backing from sector specialists can matter when selling into large financial institutions, where procurement cycles are often long, and customers are cautious about operational risk.
The new funding will be used to deepen its agent-based systems, expand coverage across private markets and grow commercial operations. This points to plans beyond its initial digital asset customer base and into other parts of alternative investing.
That move may be supported by broader market trends. Private markets are expected to exceed USD $30 trillion by the early 2030s, according to Eunice, while investors and regulators are pushing for more standardised and defensible due diligence processes.
The rise of AI tools in financial services has prompted debate over where automation can be trusted in highly regulated workflows. Many firms are testing AI in areas such as research, compliance and document review, but adoption has been uneven where accountability and audit trails are essential.
As a result, startups selling into regulated markets have increasingly focused on narrow, workflow-specific systems rather than general-purpose tools. Eunice is one of a growing number of companies trying to show that AI can work in finance if its outputs are structured, traceable and reviewed by humans.
"When decision-making in alternative assets is opaque, risk doesn't disappear - it just becomes invisible until it isn't. As these markets grow more complex and more visible, institutions need to show not just what they decided, but how. We're building the infrastructure that makes that process structured, transparent and defensible - without stripping away professional judgement," said Yi Luo, Founder and CEO of Eunice.
Moonfire described the investment as part of a broader shift towards specialist AI companies built around regulated workflows. "Eunice represents the next generation of vertical AI startups that redefine how critical work is done in regulated markets," said Mattias Ljungman, Founder and Managing Partner at Moonfire Ventures.
"In a world where general-purpose AI is moving into verticals, advantage comes from systems that embed regulatory logic, accountability and domain workflow. Eunice is codifying how regulated institutions operate. That depth of integration, combined with strong early traction and deep domain expertise, positions it to lead the market," Ljungman said.