• Model ML in talks with one target, deals could take place in coming weeks or months
• Weeks away from announcing launch of super-agents, which can handle complex tasks
• PEs will be able to use documents generated by agentic AI for deal origination

Model ML, a US-based start-up developing artificial intelligence (AI)-driven software for the financial services sector, is looking to acquire other AI agent companies, CEO and co-founder Chaz Englander told Mergermarket.

The company, which has offices in New York, London, and Hong Kong, is evaluating relevant targets and is in discussions with one, although no deals have been finalised yet, Englander said. Acquisitions could take place within the coming weeks or months, he added.

Model ML is particularly interested in acquiring engineering-led companies that have developed task-specific AI agents, especially those with five to 20 team members, the CEO said.

In February, Model ML emerged from “stealth mode” with the announcement of a fundraising worth USD 12m from Y Combinator. It is not seeking additional investment at this time, Englander said, as it is well-capitalised.

The company has not worked with advisors and is not looking to receive pitches from firms proposing acquisition targets, Englander also said.

Super-agent launch plans

The company is also weeks away from launching its own AI “super agents” at the end of April, which will be able to handle complex tasks such as drafting research memos, or generating earnings summaries, with minimal human input, Englander said.

Super agents are fully autonomous AI systems that can independently gather, analyse, and synthesise information without minimal human intervention, the executive said.

“Imagine receiving an investment opportunity email, and before you’ve even opened it, a comprehensive ten-page document is already prepared,” he said.

The documents produced by super-agents will be customisable; and could include detailed competitor analysis, potential expert connections, and comprehensive background research – all generated automatically overnight, Englander said.

Super agents will be able to complete complex tasks, such as research and analysis, by simultaneously accessing multiple data sources like emails, market reports, social media, databases, and public filings, even while users are not working, the CEO said.

Private equity (PE) firms can use these agents for deal origination, automatically drafting initial research memos, Englander said. Meanwhile, investment banks can generate instant earnings summaries as soon as financial reports are released, he said. Venture capital (VC) teams can receive pre-screened opportunity assessments without the need for manual research, he added.

“Humans should focus on building relationships,” Englander said. “Our goal is to handle tasks professionals don’t want to do, freeing them to focus on strategic decision-making.”

The new tech will work “end-to-end, autonomously, with zero human intervention other than the very last step, which is the checking of the information before it gets sent to the client,” Englander said.

Englander said that he believes 2025 will be the year of AI agent companies. While many current companies integrate AI agents into single systems, these agents will evolve into individual companies excelling in specific areas, he said.

Looking ahead, Englander predicts that fully autonomous technology will define the future of financial services.

“We’re probably 12 to 18 months away from seeing these fully autonomous super-agents in production at some of the largest firms in the world. That feels almost too far away,” he said.

Twenty clients

Currently, Model ML’s AI-powered workflow automation is already used by 20 enterprise-level clients, along with several smaller firms, Englander said. Its customer base is made up of 40% PE firms, 40% investment banks, and the remainder from asset management, VCs, and consultancies, he added.

The company currently employs 35 team members across its offices in New York, London, and Hong Kong. The CEO declined to comment on further details on financials.

The company is also receiving interest from knowledge processing companies, which handle back-office tasks for PEs and investment banks, Englander said.

Unlike competitors, Model ML has designed an interface that mimics familiar office tools like Excel and PowerPoint, making AI interaction intuitive, Englander said. Users can “talk” to their documents, asking complex questions and receiving instant, comprehensive responses, he added.

Model ML therefore sees Microsoft’s Office Suite as a competing product, as it is building its own version of PowerPoint, Word, and Excel within an AI-agentic framework, the executive said.

Englander co-founded Model ML with his brother Arnie. The CEO said that their motivation lies in creating impact and transforming financial services with AI.

“I think one of our big questions, and when we started, was that it’s notoriously very slow and very hard to sell into financial services,” Englander said. “But what we’ve seen is that AI is the number-one priority from the board level down at every firm.”

The CEO is 32 and his brother is 26. They previously co-founded the “rent anything” platform Fat Llama (acquired by Hygglo in 2022) and instant grocery delivery service Fancy (acquired by GoPuff in 2021). The brothers have been backed by Y Combinator three times.