Alinea Invest Secures $3.4M To Launch An AI Financial Advisor For Gen Z
Alinea Invest has received $3.4 million in seed funding just in time for the launch of their virtual AI assistant to help users with their investing needs.
Alinea Invest
After interning at Goldman Sachs, Eve Halimi and Anam Lakhani, co-founders of Alinea, realized the need for a female-focused investing app to guide women in making investments and managing their wealth.
“The pain point we saw is that people like us who are young women, Gen Zs, children of immigrants, they have no idea where to start,” Lakhani told TechCrunch.
“Financial literacy is a massive pain point across the United States. We wanted to build an alternative platform that was really personalized, taught you how to build your wealth, and did it for you.”
They then created Alinea, an AI-based investing app that has generated over 225,000 downloads.
The app has also gone viral on TikTok and was listed in Forbes 2024 30 Under 30 for Consumer Technology.
The App By Gen Zs For Gen Zs
The app is built for a Gen Z audience, focusing heavily on an approachable design that makes investing less intimidating.
The goal is to attract users just leaving college and entering the workforce or getting their first paychecks, then help them automate their portfolios.
According to TechCrunch, many users start with Alinea’s automated investing model but later use the option to buy and sell stocks as they become more sophisticated investors.
The app operates on a subscription business model that costs $120 annually. However, the average Alinea investor is 22 to 24 years old and makes $80,000 annually.
It also features “playlists,” which lets users build their direct indexes.
Alinea investors have customized their ETFs around themes like climate change, female leadership, AI, fashion, and abortion rights.
Daily, users create thousands of playlists that can be shared with others.
The $3.4M Seed Round
With the seed round of $3.4 million, led by F7 Ventures and GFR, Alinea wants to expand into the AI market by launching an AI financial adviser.
The new feature, due out later this year, will offer an interactive way to ask for investing help.
The AI will consider various factors when answering questions, including the user’s age, risk tolerance, past track record, and more.
The team expects to launch the feature around Q2 or Q3 this year.
“Financial literacy and investing is a crucial path to wealth and financial 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-powered investing with Alinea – making it easier and more accessible than ever for people to invest according to their interests and values.”
