The funding, which was announced Jan. 26, was led by New York-based growth equity investor General Atlantic. Other investors in the round include Mountain View-based Alphabet Inc.’s independent growth fund, CapitalG, Toronto-based Portag3 Ventures, and Alexandria, Va.-based QED Investors.
Albert will use the funds to expand its team and product, according to Chief Executive Yinon Ravid. The company raised $50 million in its previous funding round in March.
Since its launch in 2016, Albert’s software has garnered more than 5 million users, Ravid said. In 2020, the company launched “The Post,” a financial news blog, and redesigned the Albert app.
Albert offers four financial literacy features: saving, investing, planning and a feature called Instant, which allows users the opportunity to get an advance on their paychecks for a fee.
“At Albert, we do something no one else does: we deliver personalized financial advice from our team of human finance experts — aka our geniuses — at a radically affordable price,” Ravid said in a statement announcing the raise. “This guidance can be put into action automatically, using software we built from scratch.”
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