NEW YORK: Alinea Invest has raised $10.4 million in a Series A funding round to expand its investing platform tailored for the Gen Z market, the company announced Tuesday.
The fintech startup, which has amassed more than 1 million users—92% of whom are women and 70% Gen Z—saw sixfold revenue growth last year, reaching a $6 million annual run rate. Operating with a lean team of just 10 employees, Alinea has positioned itself as a leader in the shifting landscape of personal finance.
Co-founder and co-CEO Lakhani said Alinea was designed to meet young investors where they are. “You want structure and advice, but you also want the freedom to make your own calls,” Lakhani said. “It’s like ordering the salad and the fries.”
With an estimated $84 trillion expected to transfer from Baby Boomers to younger generations in the coming decades, Gen Z and women are poised to inherit significant wealth. However, traditional financial institutions have largely overlooked these groups, Alinea noted.
Armed with fresh funding, the company is rolling out AI Allie, a personal finance coach designed to act as a money-savvy best friend. Allie will guide users in making financial decisions, aligning investments with their values, and structuring plans that reflect their actual income and lifestyle.
“The question shouldn’t be, ‘Can I trade?’ It should be, ‘How do I grow $5,000 in a way that works for me?’” said co-founder Anam.
The Series A round was led by Play Ventures, with participation from additional investors.