Fintech platform Plenty is launched 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 pre-funding of $2.75 million to provide more accessible wealth-building opportunities that meet the needs of dual relationships. Investors include Phenomenal Ventures, Kevin Durant and Rich Kleimans 35V, former CEO of Wealthfront, Adam Nash, ex-Stripe angels and Inovia Capital.
Millennials are at a pivotal point in their lives. They are reaching their peak earning years, but also face major financial headwinds: student debt, rising housing prices and rising interest rates have all made building wealth and achieving financial goals daunting and out of reach. With most millennials now in dual-career relationships, life milestones like marriage, home ownership and starting a family loom on the horizon or already here.
Plenty was founded in 2022 by Emily Luk and Channing Allen, who met working together on 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, burdensome action items, Luk and Allen saw an opportunity to bring an affordable, fresh, technology-first approach. After a decade each in Silicon Valley, they’d seen firsthand how it’s easier to grow wealth when you’re already rich. While building Plenty, they explored how to provide 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 want to plan their finances together. Leading with a partner-oriented approach to finance, Plenty’s goal-based investment platform simplifies and automates the financial forecasting and investment process for couples looking to plan towards life milestones and reach financial freedom together.
“Everyone deserves a chance to live and dream without worrying about whether they can afford their dreams. That’s true financial freedom” says Luke.
“Finding out how to get to that point shouldn’t depend on whether you can afford to pay for knowledge, whether it was normal for your family to talk about money, or whether you already have a minimum of wealth.” Allen added, “This industry seems to have missed the reality that our generation has grown up, we’re mostly together, and what we need now is different than what we needed 10 years ago. We look forward to changing that, and we are grateful for the support of industry leaders who see the same opportunities as we do.”
Adam Nash, former CEO of Wealthfront: “Managing your financial life is hard enough for one person, but building a financial plan for a couple? It’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 are impressed by the founding team’s expertise in building fintech products that people love. For too long, tools for value creation have been beyond the reach of many and only available to a privileged few. Plenty is creating equal access for all, and we’re excited to be part of their story.”
Mass 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 that offers 13x the national savings APY average, and an automated direct indexing strategy that historically required a $500,000 minimum investment. For more information on the fintech platform, visit withplenty.com.
