US-based fintech start-up Pillar has secured $20 million in a funding round led by Andreessen Horowtiz.

Created in 2023 by former Barclays and Coinbase employees Harsha Ramesh (CEO) and Chinmay Deshpande (CTO), Pillar utilises AI to automate hedging for commodity and currency risk, providing businesses with a consolidated risk management hub including tools for data analysis, portfolio construction, execution, management, and accounting.

Announcing the funding on LinkedIn, CEO Ramesh says: “Hedging is still manual, fragmented, and often inaccessible – leaving companies exposed at precisely the wrong time. Pillar is built for this new reality. We’ve developed an AI-powered hedging platform that connects directly to real-world exposures and manages risk continuously – from strategy to execution to optimisation.”

Backed by firms such as Neo, Analog Ventures, Gallery, and Crucible, Pillar has so far raised $23 million in total capital.   

Related:Salmon Group raises $100m in equity and bonds

In addition to the new funding, the New York-headquartered company has also announced that commodities consultant and author Samuel Basi will be joining the firm as a strategic advisor.