American mobile banking, saving and investing app Albert has raised $100 million in a Series C funding round led by General Atlantic. CapitalG, Alphabet’s independent growth fund, Portag3, and QED joined the round, which brings Albert’s total funding to date to $173 million.
Since launching in 2016, Albert has signed up more than five million users, helping them to save over $500 million through financial automation.
The company mixes this automation with a personal touch through its “Genius” team of real, human finance experts that have provided personalised advice in more than 10 million text conversations with customers.
The new funding will be used to expand the Albert team and roll out new products.
Says CEO Yinon Ravid: “We envision a world in which no one, regardless of income or net worth, has to worry about making the wrong financial decision.”
Source: Finextra
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