Fintech platform Plenty launches to modernize wealth building for everyday couples

Plenty, the first-of-its-kind financial platform that helps couples discuss, manage and invest their money together, has today announced its $2.75 million pre-seed capital raise to provide more accessible wealth-building opportunities that meet the needs of dual relationships. Investors include Phenomenal Ventures, Kevin Durant and Rich Kleiman’s 35V, former CEO of Wealthfront, Adam Nash, ex-Stripe angels, and Inovia Capital.

Millennials are at a pivotal point in their lives. They’re reaching their highest earning years but also facing some major financial headwinds: student debt, rising home prices, and increasing interest rates have all made building wealth and achieving financial goals feel intimidating and out of reach. As most millennials are now in dual-career relationships, life milestones like marriage, homeownership, and starting a family are looming on the horizon or already here.

Plenty was founded in 2022 by Emily Luk and Channing Allen, who met working together at Even (acquired by Walmart-owned One), a startup that sought to end the paycheck-to-paycheck cycle. There, Luk and Allen discovered how broken the traditional financial planning landscape was for everyday millennials. High upfront price tags, potentially predatory advice, onerous action items, Luk and Allen saw an opportunity to bring an affordable, fresh, tech-first approach. After a decade each in Silicon Valley, they’d seen firsthand the ways where it’s easier to grow wealth when you’re already wealthy. As they built Plenty, they explored how to give access to exclusive funds and advanced, algorithmic strategies that were previously out of reach for the everyday household.

After getting engaged in late 2021, they struggled to find products that supported their reality as millennials looking to plan their finances together. Leading with a partner-oriented approach to finances, Plenty’s goals-based investing platform simplifies and automates the financial forecasting and investing process for couples who want to plan toward life milestones and reach financial freedom together.

“Everybody deserves a chance to live and dream without worrying if they can afford their dreams. That’s true financial freedom,” says Luk.

“Figuring out how to reach that point shouldn’t be dependent upon whether or not you can afford to pay for knowledge, whether it was normal for your family to talk about money, or if you have a minimum amount of wealth already.” Allen added, “This industry seems to have missed the reality that our generation has grown up, we’re mostly partnered up, and what we need now is different from what we needed 10 years ago. We’re looking forward to changing that, and we’re grateful for the support of industry leaders who see the same opportunities that we do.”

Adam Nash, Former CEO of Wealthfront: “Managing your financial life is difficult enough for one person, but building a financial plan for a couple? That’s a whole different ball game. Different priorities, different fears, and different goals. I’m excited to be a part of Plenty’s journey from the beginning.”

Meena Harris and Helen Min, Co-Founders of Phenomenal Ventures, said: “We’re impressed with the founding team’s expertise in building fintech products that people love. For too long, wealth-building tools have been out of reach for many and only available to a privileged few. Plenty is creating equitable access for everyone, and we’re pleased to be a part of their story.”

Plenty is available to both individuals and couples via an affordable membership that provides exclusive access to their wealth-building platform, partner functionality, a cash management product offering 13x the national savings APY average, and an automated direct indexing strategy that historically required a $500k investment minimum. For more information on the fintech platform, visit withplenty.com.