OpenAI has acquired personal finance startup Hiro Finance, marking the latest in a series of acquisitions aimed at beefing up its business finance capabilities. Founded in 2023 and backed by notable VC firms like Ribbit, General Catalyst and Restive, Hiro offered AI-powered financial planning tools for consumers.

The company’s shutdown and data deletion plans hint at an acquihire—a strategic move to acquire talent rather than the full operation. Ethan Bloch, founder of Hiro Finance and previously behind successful ventures such as Digit, will be joining OpenAI with his team.

This acquisition is particularly interesting given OpenAI's recent push into business finance tools via platforms like ChatGPT. It signals a potential expansion or specialization in financial planning applications, though the exact path remains to be seen.

The deal also reflects Bloch’s impressive entrepreneurial journey, spanning from his early teens when he started Flowtown—a social media SaaS tool—to his latest success with Hiro Finance. His background suggests that OpenAI values not just technology but also practical experience in consumer finance.