Alinea Invest, a New York based fintech company, has raised US$10.4 million in Series A funding as it continues its mission to build the go-to investing app for Gen Z.
Founded in 2021 by Anam Lakhani and Eve Halimi, who met while at university and went on to gain experience at Goldman Sachs and Citi, Alinea has seen rapid growth.
The platform now boasts over one million users, 92 percent of whom are women and 70 percent Gen Z.
Last year, the company achieved six times revenue growth, reaching a US$6 million run rate with a lean team of just ten.
Co-founder and co-CEO, Anam Lakhani, explained the app’s unique approach:
“You want structure and advice, but you also want the freedom to make your own calls. It’s like ordering the salad and the fries.”
Alinea is tapping into a major generational shift in wealth, with an estimated US$84 trillion expected to pass from Baby Boomers to younger generations in the coming decades.
Despite this, traditional financial institutions continue to overlook Gen Z and women, two demographics Alinea is determined to serve.
With its latest round of funding, Alinea is rolling out AI Allie, a personal finance coach designed to act like a money savvy best friend. Allie supports users in making informed decisions, aligning their investments with personal values, and crafting financial plans that reflect real world incomes and goals.
As Lakhani puts it:
“The question shouldn’t be, ‘Can I trade?’ It should be, ‘How do I grow $5,000 in a way that works for me?’”
The Series A round was led by Play Ventures, with participation from GFR Fund, Y Combinator, Gaingels, FoundersX, F7 and Visible Ventures.
Featured image credit: Alinea Invest
