AI provider to KiwiSaver secures funding

Sevaka, a New Zealand-based fintech building AI-powered infrastructure for financial services, has closed a $1 million funding round.

The raise was supported by a mix of international and New Zealand investors, including Angel Investors Marlborough, and includes R&D funding from the government innovation agency Callaghan Innovation.

Sevaka’s platform enables KiwiSaver providers and financial advisers to embed artificial intelligence into their operations, allowing them to streamline processes, reduce response times, and enhance compliance. By automating back-office workflows and improving client interactions, the company aims to lift both efficiency and service standards across the retirement savings sector.

Chief executive and founder Clive Fernandes said the investment marks a key milestone in Sevaka’s mission to make quality financial advice more accessible:

The funding will accelerate Sevaka’s product development roadmap, support deeper integration with enterprise systems, and help scale into new markets, including the Australian superannuation sector.