Alinea Invest, a New York-based FinTech firm, recently closed a seed funding round, securing $3.4 million to further develop its AI-powered wealth management platform targeting Gen Z women. The funding comes from contributors such as F7 Ventures, GFR, Worklife Ventures led by Bri Kimmel, FoundersX Fund, Gaingels, and Arash Ferdowsi, the co-founder of Dropbox.

Founded during the uncertainties of the COVID-19 pandemic by co-founders Anam Lakhani, Eve Halimi, and CTO Daniel Nissenbaum, Alinea Invest distinguishes itself in the competitive FinTech sector by offering a user-friendly investment platform tailored to the younger demographic. The platform’s subscription model, priced at $120 per year, is a flat fee, and its unique feature, “playlists,” allows users to personalize ETFs based on various themes.

The $3.4 million in funding is earmarked for advancing Alinea’s AI capabilities. The company plans to introduce an AI financial adviser, enhancing the existing combination of AI and expert guidance. This feature, expected later this year, aims to provide personalized investment advice by considering factors like age, risk tolerance, and investment history.

Co-founders Eve Halimi and Anam Lakhani identified the need for a female-focused investing app during their internships at Goldman Sachs. Alinea’s app, designed for Gen Z, prioritizes an approachable design to ease the intimidation often associated with investing for young users entering the workforce.

Alinea’s subscription model and the “playlists” feature have found resonance with its predominantly female user base. The average Alinea investor is aged 22 to 24, earning $80,000 annually. The success of the app, listed in Forbes’ 2024 30 Under 30 for Consumer Technology, has attracted investors, leading to the recent seed funding round.

The $3.4 million infusion, led by F7 Ventures and GFR, positions Alinea to further develop its platform. The funds will be allocated to the AI financial adviser, user personalization tools, and educational initiatives. Alinea’s focus is on empowering Gen Z women by closing the financial literacy gap and making investing more accessible.

As Alinea Invest moves forward, industry experts suggest potential collaborations with educational institutions or non-profit organizations to integrate financial literacy workshops within the app. This approach could enhance Alinea’s role in empowering young women as investors without overstating its impact in the FinTech landscape.