Alinea Invest, a pioneering WealthTech platform, has successfully secured $10.4m in a Series A funding round.
The innovative app, tailored specifically for the Gen Z demographic, was co-founded by Anam Lakhani and Eve Halimi who began their journey at Goldman Sachs and Citi before launching Alinea in 2021. With a modest team of ten, Alinea has impressively scaled to over 1 million users—predominantly women and belonging to the Gen Z cohort, according to Finextra.
The funding was led by Play Ventures, alongside other notable investors including GFR Fund, Y Combinator, Gaingels, FoundersX, F7, and Visible Ventures. This financial backing marks a significant milestone in the company’s expansion efforts. Alinea distinguishes itself through a unique investment approach that resonates with young people’s desire for both guidance and autonomy in managing their finances, described vividly by co-founder and co-CEO Anam Lakhani: “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.”
The company is not just about providing a platform for trading but fostering a financial culture that aligns with the values and lifestyles of younger generations. With the fresh infusion of capital, Alinea is set to launch ‘AI Allie’, a personal finance coach aimed at acting like a ‘money-savvy best friend’. This new feature is designed to help users navigate their financial journey, align their investments with personal values, and create realistic financial plans.
In addition to the innovative financial solutions, Alinea has already demonstrated significant business success with a sixfold revenue increase last year, achieving a $6m run rate. This growth underscores the vast potential of targeting underrepresented demographics in the investment sector, particularly as a substantial wealth transfer from Boomers to younger generations looms on the horizon.
Co-founder Lakhani encapsulates the ethos of Alinea with her forward-looking perspective on investment: “The question shouldn’t be, ‘Can I trade?’ It should be, ‘How do I grow $5,000 in a way that works for me?’”
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