LA-based fintech startup Albert announced Tuesday that it raised $100 million in a Series C led by General Atlantic. CapitalG, Alphabet’s independent growth fund, also participated in the round. CapitalG gave Albert another financial boost last March when it led the company’s $50 million Series B.
Albert’s automated financial wellness app can keep track of how much money you make, what your spending habits are and what bills are left to be paid. The company can also alert you when you’re overspending.
“We envision a world in which no one, regardless of income or net worth, has to worry about making the wrong financial decision,” Yinon Ravid, CEO and co-founder of Albert, said in a statement.
The company will use the additional capital to expand the size of its team and invest in product research and development. It is currently looking to hire for its engineering, finance and marketing teams.
Albert’s “Genius” feature connects its paid subscribers to real financial advisers. Its advisers are fit to answer questions about overdrafts, lowering debt, insurance recommendations, family planning and more.
More than five million users have signed on to the Albert platform since it launched in 2016.
Albert has raised $173 million in financing to date, according to the company.
