Gen Z investing app Alinea raises $3.4M, intends to launch an ‘AI copilot’

Alinea Invest, a fintech app providing wealth that is AI-powered aimed at Gen Z women, has $3.4 million in seed funding ahead of the launch of a virtual AI assistant that will help users with their investing needs. The fundraising comes on the heels of 225,000 downloads of Alinea’s app, leading to a revenue run rate of $1.8 million, allowing the New York area startup’s team that is six-person run profitably.

Founded amid the COVID-19 pandemic, Alinea is made by co-founders Anam Lakhani and Eve Halimi, in addition to CTO Daniel Nissenbaum just who found at Barnard university and Columbia University. Lakhani and Halimi, now co-CEOs, had interned on Wall Street but encountered a pain that is similar when it came to money: They didn’t know how to best invest. This idea led to the creation of a continuing business policy for an app while using an entrepreneurship course in school. Later On, the creators headed into full time tasks in financial investment financial and also at a growth-stage startup whenever COVID struck.

The pandemic fundamentally freed up more time for the group working on the application, y Combinator in 2021 and got in.

“The so they applied to startup accelerator pain point we saw is that people they have no idea where to start like us who are young women, Gen Zs, children of immigrants. Financial literacy is a pain that is massive across the United States,” notes Lakhani. “We wanted to build an platform that is alternate was personalized, taught you the way to construct your wide range, and achieved it for you.”Eve Halimi in tangerine and Anam Lakhani. Image Credits:

: Alinea Invest

The application, which will be called a “Wealthfront satisfies Robinhood,” is built with a Gen Z audience in your mind. Which includes a focus that is heavy an approachable design to make investing seem less intimidating. The goal is to attract users them to automate their portfolio as they’re just leaving college and entering the workforce or getting their first paychecks, then helping. This differentiates Alinea off their fintechs that are female-focused like Ellevest.

Many users start with Alinea’s investing that is automated, but later make the most of the possibility to get and offer shares because they be more advanced investors.

However, unlike Robinhood plus some other people, Alinea works on a subscription business structure that costs a-flat $120 per

Another year differentiator for Alinea are its “playlists.” These let users build their own direct indexes — in a way that’s somewhat akin to music that is curating Spotify. These days, Alinea people have actually personalized unique ETFs around motifs like environment modification, feminine management, AI, style, and . Constant, users develop numerous of playlists, and these could be distributed to other individuals.

Image Credits:

Alinea Invest

The business up to now was effective at getting people through material advertising, specifically on TikTok, where in actuality the creators talk about investing and their startup trip. The founders told For Millionaires.

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 to date, their following has led to over 100 million views across their hashtags on the short video platform. The new feature, due out later this year, will offer an interactive way to ask for investing help.

The while the app is already leveraging a combination of AI and expert advisers to make stock recommendations AI assistant would be tacked onto a subscription that is newF7 Ventures“There will be an upscale that is additional, really, where it should be like a sort of AI copilot — an AI economic adviser that may respond to your questions . . . that are particularly personalized for you,” notes Halimi.GFRThe AI will start thinking about a number of facets whenever questions that are answering including the user’s age, risk tolerance, past track record, and more. The team expects to launch the feature around Q2 or Q3 this they said.FoundersX FundThough year competition is rife within the fintech room, Alinea thinks they could capture a particular demographic — the more youthful, Gen Z trader, and mostly females (80% regarding the app’s users tend to be females). The typical Alinea trader tends to make $80,000 each year and it is around 22 to 24 many years that is oldArash FerdowsiThe new funding was led by

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