Plenty, a WealthTech platform designed to facilitate investment and financial planning for couples, has successfully raised $5m in seed funding.
The round was led by Inovia Capital, with significant contributions from Garage Capital, Otherwise Fund, and Interplay, as well as pre-seed investments from Kevin Durant and Rich Kleiman’s 35 Ventures, Charge Ventures, Phenomenal Ventures, Xtripe Angels, and strategic angels such as Adam Nash and Mark Goines.
The company offers a unique “Yours/Mine/Ours” approach, allowing couples to manage their finances with flexibility. Plenty integrates cash flow management, goal planning, and long-term investment strategies that align with personal values, setting it apart from traditional and single-user FinTech applications.
The new funds are earmarked for product development and team expansion. Plenty aims to enhance its platform’s capabilities, focusing on collaborative financial planning tools that are accessible and cost-effective.
Plenty’s innovative features include automatic transaction categorisation from connected accounts, flexible account labelling, and goals-based financial planning. The platform also offers an appealing 5.08% APY on its cash management feature, significantly above the national average.
Inovia Capital Partner Chris Arsenault said, “Having had the privilege of knowing Emily for over a decade and collaborating with her at Inovia, I’m excited to join forces with her for the launch of Plenty. Emily and Channing have crafted an extraordinary product that fills a crucial gap in the fintech landscape, aimed at the needs of millennials. Our enthusiasm to invest in Plenty stems from our confidence in their vision and commitment to revolutionizing collaborative finance.”
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