OpenAI has bought AI personal finance startup Hiro

OpenAI has acquired Hiro Finance, a personal finance startup founded in 2023 by serial entrepreneur Ethan Bloch. The deal, confirmed by both parties, appears to be primarily an acquihire as Hiro will shut down its consumer-facing AI financial planning app on April 20 and delete all user data by May 13. The startup's approximately 10 employees will join OpenAI, bringing specialized expertise in training AI models for accurate financial mathematics and scenario planning. Hiro had launched its AI tool just five months ago, allowing users to input salary, debts, and expenses to model different financial outcomes.

Bloch brings significant fintech experience to OpenAI, having previously founded and sold Digit, a digital bank acquired by Oportun for over $200 million in 2021. This marks OpenAI's second financial app acquisition, signaling a strategic push to enhance its capabilities in business and consumer finance applications. The move aligns with OpenAI's marketing of ChatGPT as a tool for business finance teams and could help the company compete in specialized financial AI domains. While terms weren't disclosed, Hiro was backed by prominent investors including Ribbit Capital, General Catalyst, and Restive Ventures before its acquisition.