UK-based Nous, a company developing an AI agent to help households manage everyday administrative tasks and reduce spending, has raised $17 million in new funding to expand internationally and introduce additional features.

The investment was provided by Heartcore Capital and existing seed investor Mosaic Ventures, with participation from Chalfen Ventures, Joyance Partners and Bain Future Back Ventures. The company also received backing from several angel investors, including founders and entrepreneurs associated with Monzo, GoCardless, Founders Factory, Faculty.ai and Onfido.

Founded by Greg Marsh, the entrepreneur behind luxury accommodation marketplace onefinestay, Nous has developed an AI-powered platform designed to help households manage recurring expenses and everyday administrative responsibilities.

Its agent identifies cheaper deals, switches service providers, cancels subscriptions, completes forms and flags potentially unfavourable contract terms or costly renewals. It also helps organise household activities by managing family calendars, sending deadline reminders, finding local tradespeople and booking appointments.

Unlike tools that primarily provide recommendations or reminders, Nous is designed to make decisions and carry out tasks on behalf of users once authorised to do so. Its technology combines large language models with rules-based logic for specific and sensitive actions, particularly those involving financial decisions.

The company operates within regulatory requirements and is registered with the Financial Conduct Authority (FCA), allowing it to support regulated activities such as purchasing insurance.

Commenting on the company's approach, Greg Marsh, founder and CEO of Nous, said:

We’ve spent the last 18 months building and honing an agent that not only feels magic, but is also one people can actually trust. If you are allowing an AI agent to make financial and purchasing decisions on your behalf, you need to know it’s up to the job. That’s why Nous is laser focused on its vertical of household spending and admin, and why we take safety and privacy so seriously.

As part of its approach to privacy and user trust, Nous states that it does not generate revenue through advertising or the sale of customer data, aiming to avoid potential conflicts of interest between users and service providers.

The new funding will support the expansion of Nous's services into additional household spending categories and regulated activities, including a broader range of insurance and financial services. The company also plans to introduce more capabilities for managing everyday tasks and expand internationally.