OffDeal, a self-described AI-native investment bank, has raised $12 million in a Series A round led by Radical Ventures, valuing the company at $100 million.
Based in New York, the startup wants to become the “Goldman Sachs for SMBs” — but with a radically leaner, software-driven approach.
Automating investment banking, not just assisting it
Unlike tools like Rogo or Mosaic, which streamline parts of investment banking workflows, OffDeal is rethinking the full deal team. The firm executes sell-side M&A with fewer than 10 employees, using a proprietary AI platform that replaces analysts, associates, and support staff with integrated models. The result: a single managing director can run multiple mandates simultaneously and retain a larger share of deal economics.
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From RBC to reimagining the industry hierarchy
OffDeal was co-founded by Ori Eldarov, a former RBC banker and Harvard MBA, who set out to rebuild a vertically integrated investment bank from scratch — including its org chart, software stack, and data infrastructure. The goal? Remove mid-level friction, flatten the totem pole, and focus bankers on only the most high-leverage, human-centric parts of the process.
From $10M HVAC companies to Montessori school exits
OffDeal targets lower middle-market companies with $10M–$100M in revenue and $1M–$10M in EBITDA — a segment under-served by traditional firms. Its clients include HVAC service businesses, paving companies, and Montessori schools. AI tools match each client with a curated buyer universe using a proprietary index of millions of U.S. companies, built by co-founder and ex-Meta engineer Alston Lin.
End-to-end automation of the deal workflow
OffDeal’s AI system generates pitch materials, tracks NDAs, auto-produces CIMs and teasers, and even manages email communications with buyers. The company charges a 5% success fee with no retainer, aiming for a 4-month close cycle per deal. Each banker can manage up to 10 concurrent deals, with compensation tied directly to outcomes.
Performance-driven pay and a break from “target school” culture
Bankers at OffDeal earn a $100K base salary, plus 20% of the firm’s 5% deal fee per transaction. Managing Director Sam Mielke, a 25-year-old former boutique banker from Minneapolis, is on track to earn a $2M bonus in 2025. He called Wall Street’s elite hiring funnel “absurd” and praised OffDeal’s merit-based model.
Building toward $100M in run-rate revenue
With ~10 deals closed or near closing and strong demand from both clients and banker applicants, OffDeal plans to scale its model toward $100M in annual revenue by 2027. The team is building out CRM capabilities and integrating the platform further to minimize human input across deal execution.
Reinventing the banker job — and the bank
“This is a fully vertically integrated bank,” Eldarov said. “We’ve rebuilt every layer — the org structure, the software, the data. And we’re giving our bankers the best part of the job: actual execution, client service, and strategic judgment.”
