With the new funding, Alinea plans to further delve into the AI market with the launch of an AI financial advisor. This feature will offer an interactive way for users to seek investing help, considering factors like the user's age, risk tolerance, and past track record. The company aims to capture the younger, Gen Z investor demographic, with 80% of the app's users being women. The funding round was led by F7 Ventures and GFR.
Key takeaways:
- Alinea Invest, a fintech app aimed at Gen Z women, has raised $3.4 million in seed funding to launch a virtual AI assistant for investing.
- The app has already been downloaded 225,000 times, leading to a revenue run-rate of $1.8 million.
- Alinea differentiates itself from other fintechs through its 'playlists' feature, allowing users to build their own direct indexes around themes like climate change and female leadership.
- The new funding will be used for further product development, including the AI copilot, personalization, and other educational initiatives.