OpenAI (Unlisted:OPAI) has acquired personal finance startup Hiro Finance, the company’s founder Ethan Bloch announced.
The financial terms of the acquisition were not disclosed. Hiro had also not publicly disclosed how much funding it had raised prior to the deal.
In a post on LinkedIn, Bloch said Hiro is “joining OpenAI,” describing the acquisition as an opportunity to scale the startup’s original mission of building an “AI personal CFO.” He noted that Hiro had supported clients in planning for and managing more than $1 billion in assets.
Hiro Finance was founded with a focus on providing AI-assisted personal financial guidance. According to Bloch, the company aimed to make financial planning more accessible at a time when traditional services can be costly or difficult for many users to obtain.
“As Rushabh Doshi and I got to know the team at OpenAI, it became clear that joining forces would give us the opportunity to pursue that vision at a much larger scale,” Bloch wrote in his announcement.
He added that the broader goal of improving financial well-being remained unchanged, and suggested that advances in AI, including systems like ChatGPT, could help expand access to personalized financial guidance.
OpenAI has not yet publicly detailed how Hiro’s technology or team will be integrated into its existing products or research efforts.
Following the acquisition, Hiro will discontinue onboarding new users immediately. The company stated that the Hiro product will stop functioning on April 20. As such, the deal is being seen as a potential acqui-hire, though this was not confirmed by either company.
In his announcement, Bloch acknowledged the end of Hiro as a standalone product, expressing appreciation to users, employees, and investors. He also noted that the startup’s investors included Ribbit, General Catalyst, and Restive, among others.
“To everyone who used Hiro: thank you for believing in us early,” Bloch wrote. “Building for you was a privilege.”