Total amount raised
$175.6 Million
Latest funding date
01/01/2021
Location
Albert has successfully raised funds through 7 rounds, with backing from 20 investors, including Friends & Family Capital and Invus Opportunities. The platform offers a comprehensive suite of financial management tools, aiming to democratize money management by making financial advice accessible and affordable.
Keep reading to explore the intricacies of Albert's fundraising journey and the investors backing this innovative platform.
What Is Albert?
Albert is a financial technology company based in Los Angeles, California. It aims to democratize money management by making financial advice accessible and affordable. The company operates in various sectors, including apps, consulting, finance, financial services, and fintech.
Founded by a team of innovators, Albert has grown to employ between 101-250 people. The platform offers a personal financial assistant named "Genius," which helps users with budgeting, saving, investing, and financial protection. Trusted by over 20 million customers, Albert continues to simplify financial management through its comprehensive suite of services.
How Much Funding Has Albert Raised?
- Seed Round
- Amount Raised: USD 250,000
- Date: June 2016
- Lead Investors: Financial Solutions Lab
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the business model.
- Seed Round
- Amount Raised: USD 2,500,000
- Date: November 2016
- Lead Investors: 500 Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's features.
- Seed Round
- Amount Raised: USD 7,764,020
- Date: May 2018
- Lead Investors: QED Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase user acquisition.
- Series A
- Amount Raised: USD 15,000,000
- Date: December 2018
- Lead Investors: Portage Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand market reach.
- Series B
- Amount Raised: USD 50,000,000
- Date: March 2020
- Lead Investors: CapitalG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and support rapid growth.
- Series C
- Amount Raised: USD 100,000,000
- Date: January 2021
- Lead Investors: General Atlantic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and product offerings, furthering the mission of improving financial wellness.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: September 2025
- Lead Investors: Friends & Family Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and future growth initiatives.
Total Amount Raised: USD 175,514,020. Current Valuation: Not publicly disclosed.
Key Investors
- General Atlantic
- Details: General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. They have been instrumental in helping companies scale and achieve their growth objectives.
- Investment Focus Areas: Technology, consumer, financial services, healthcare.
- Notable Investments: Airbnb, Alibaba, Uber.
- CapitalG
- Details: CapitalG is the growth equity investment fund of Alphabet Inc., focusing on late-stage technology companies. They leverage the resources and expertise of Alphabet to support their portfolio companies.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Lyft, Stripe, Duolingo.
- Portag3
- Details: Portag3 is a venture capital firm focused on investing in financial technology companies. They aim to support early-stage fintech companies that are innovating in the financial services sector.
- Investment Focus Areas: Financial technology (fintech).
- Notable Investments: Wealthsimple, Koho, Borrowell.
- QED Investors
- Details: QED Investors is a venture capital firm specializing in early-stage, disruptive financial services companies. They have a strong track record of investing in companies that transform the financial services landscape.
- Investment Focus Areas: Fintech, financial services.
- Notable Investments: Credit Karma, SoFi, Avant.
- Friends & Family Capital
- Details: Friends & Family Capital has participated as a lead investor in multiple funding rounds for Albert. They are known for their strategic investments in early-stage companies.
- Investment Focus Areas: Not publicly disclosed.
- Notable Investments: Not publicly disclosed.
What's Next for Albert?
Albert stands at the cusp of significant growth opportunities, driven by its mission to democratize financial advice. With over 5 million users and $100 million in recent funding, the company is poised to expand its team and product offerings, enhancing financial wellness for a broader audience. The integration of human financial advice with automation positions Albert to capitalize on the growing demand for personalized financial services.
Future fundraising opportunities appear promising as Albert continues to innovate and attract more users. The successful Series C round suggests that additional funding rounds could support further expansion and the introduction of new features. However, the company may face challenges such as competition from other fintech firms and the need to maintain user trust and data security while scaling its operations.
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