Topics
Latest
AI
Amazon
Image Credits:Alinea Invest
Apps
Biotech & Health
clime
Image Credits:Alinea Invest
Cloud Computing
DoC
Crypto
Eve Halimi in orange and Anam Lakhani.Image Credits:: Alinea Invest
Enterprise
EVs
Fintech
Image Credits:Alinea Invest
Fundraising
widget
Gaming
Government & Policy
ironware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
security department
Social
Space
Startups
TikTok
expatriation
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
video
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
Alinea Invest , a fintech app offer AI - powered wealthiness direction purport at Gen Z womanhood , has $ 3.4 million in ejaculate support ahead of the launching of a virtual AI help that will facilitate users with their investment want . The fundraising come on the dog of 225,000 downloads of Alinea ’s app , extend to a receipts run rate of $ 1.8 million , set aside the New York area inauguration ’s six - person squad to run profitably .
plant amid the COVID-19 pandemic , Alinea was make by co - foundersAnam LakhaniandEve Halimi , as well as CTODaniel Nissenbaumwho foregather at Barnard College and Columbia University . Lakhani and Halimi , now co - CEOs , had intern on Wall Street but confront a standardised bother stage when it came to money : They did n’t know how to well invest . This estimation result to the creation of a business design for an app while take an entrepreneurship class at school day . afterward , the founders head into full - clock time jobs in investment banking and at a outgrowth - stage startup when COVID hit .
The pandemic ultimately freed up more time for the squad to work on their app , so they applied to startup accelerator Y Combinator in 2021 and got in .
“ The annoyance full point we date is that people like us who are young women , Gen Zs , children of immigrants , they have no idea where to start . Financial literacy is a massive bother point across the United States , ” notes Lakhani . “ We require to build an alternate political platform that was really personalized , instruct you how to build your wealthiness , and did it for you . ”
The app , which is distinguish as a “ Wealthfront conform to Robinhood , ” is built with a Gen Z hearing in head . That admit a heavy focal point on an accessible blueprint to make investment seem less intimidating . The goal is to attract users as they ’re just exit college and entering the manpower or getting their first paychecks , then helping them to automate their portfolio . This differentiates Alinea from other female - focused fintechs , like Ellevest .
Many users start with Alinea ’s automate investment mannikin , but afterwards take vantage of the option to bribe and trade stock as they become more advanced investors .
However , unlike Robinhood and some others , Alinea function on a subscription byplay model that be a flat $ 120 per year .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
Another discriminator for Alinea are its “ play list . ” These let users establish their own direct indexes — in a way that ’s more or less akin to curating medicine on Spotify . Today , Alinea investor have customized their own ETF around themes like clime change , distaff leadership , AI , fashion , andeven abortion right hand . Daily , users create thousands of play list , and these can also be shared with others .
The caller so far has been successful at acquire users through content merchandising , especially on TikTok , where the founders talk about investing and their startup journey . To escort , their chase has led to over 100 million views across their hashtags on the short video platform , the founders told TechCrunch .
With the seed round of $ 3.4 million , Alinea wants to move farther into the AI market with the launch of an AI financial adviser . While the app is already leveraging a combination of AI and expert adviser to make stock recommendations , the new feature , due out afterwards this year , will offer an interactive way to ask for adorn help .
The AI helper will be baste onto a new subscription .
“ There will be an additional upscale grade , essentially , where it will be like a sort of AI co-pilot — an AI financial adviser that will answer all your interrogative . . . that are very personalized to you , ” notes Halimi .
The AI will consider a variety of factors when answering enquiry , including the user ’s eld , risk tolerance , past caterpillar track record , and more . The team expects to set up the feature around Q2 or Q3 this twelvemonth , they said .
Though rival is dominant in the fintech space , Alinea believe they can capture a particular demographic — the younger , Gen Z investor , and largely women ( 80 % of the app ’s users are woman ) . The median Alinea investor makes $ 80,000 per class and is around 22 to 24 years one-time .
The young funding was led byF7 VenturesandGFRand includedWorklife Ventures(Bri Kimmel),FoundersX Fund , Gaingels , and Dropbox co - founderArash Ferdowsi . Alinea had antecedently raised a $ 2.3 million pre - seed round from Goodwater , Kima Ventures , Harvard , Diaspora , and ex - Robinhood employees . The laminitis have not add to the board with the novel capital , but rather plan to invest in further ware development , include the AI copilot , personalization , and other educational initiatives .
“ fiscal literacy and investing is a crucial path to wealth and fiscal stability for women and Gen Z , ” said Kelly Graziadei , F7 general partner . “ We are proud to invest in Eve and Anam as they build AI - power investment with Alinea — making it easier and more accessible than ever for the great unwashed to invest according to their interests and values . We ca n’t think of a better team to afford up the itinerary to a new generation of riches founding , ” she added .
