Letting You and Your Better Half Initiate a Healthy Financial Journey Together

Plenty, a wealth-building platform that helps couples invest and plan for their future together, has officially launched for the wider public after going through a successful year-long invite-only program. According to certain reports, the stated platform brings to the fore a flexible “Yours/Mine/Ours” approach towards wealth-creation, covering everything from cash flow management to goals planning and long-term, value-based investing. With over 60% of millennials having a partner, Plenty caters to them big time through custom-built capabilities. These capabilities, in essence, will help the stated market add goals like fertility planning, goals-based financial plans, while simultaneously giving them the ability to map investment strategy against core values. Talk about the whole value proposition on a slightly deeper level, we begin from how connecting accounts to Plenty automatically loads and categorizes the past two years of data from existing accounts (from banking to investing and retirement). This, like you can guess, sets up a clear baseline for everything a couple might require moving forward. Next up, we must get into the solution’s ability to offer a clear lowdown on your cashflow. The platform in question is able to achieve such an objective through tracking tools that, on their part, can show month-over-month trends for spending, earning, saving, and investing, thus enabling users to assess where they actually stand in their combined financial journey.

“When we got engaged, Channing and I couldn’t find a product that made it easy for us to work together on financial decisions, so we decided to build one,” said Emily Luk, CPA, CFA, and CEO of Plenty. “The landscape of traditional financial planning or single-player fintech just doesn’t work for couples like us. Today’s couples expect easy collaboration, affordable prices, and are savvy enough to know that there are better investment products out there. We’re excited to bring that all into one platform and introduce Plenty to the world.”

Considering the focus it has on fostering a desirable and unified financial reality, Plenty also delivers at your disposal a set of flexible sharing capabilities. These capabilities let couples achieve a clear view into “what’s ours” and “what’s mine.” The stated view, in particular, can prove to be hugely beneficial, as it makes for a comprehensive insight into your individual and collective earning, as well as expenditure. Enabling more informed investing decisions this way, the flexibility aspect also provides you with connected accounts, which you can easily label as private or shared. We have already referred to the solution’s knowhow when it comes to facilitating goals-based planning, but what we still haven’t mentioned is the fact that Plenty also packs into its value proposition a next-generation Robo-advisor, capable of direct indexing, advanced tax-loss harvesting, and values-based customization. Complimenting the same is an appealing APY. By appealing, we must get into how Plenty’s cash management feature will conceive for users an impressive 5.08%* APY, which is literally 13 times higher than the national average.

The launch in question comes on the back of Plenty’s $5 million seed investment round. Led by Inovia Capital, the round saw further participation coming from the likes of Otherwise Fund, Interplay, Kevin Durant and Rich Kleiman’s 35 Ventures, Charge Ventures, Phenomenal Ventures, Xtripe Angels, and strategic angels Adam Nash (formerly Wealthfront), and Mark Goines (formerly Intuit, early in Mint and Personal Capital [acq. Empower]).

“Having had the privilege of knowing Emily for over a decade and collaborating with her at Inovia, I’m excited to join forces with her for the launch of Plenty,” said Chris Arsenault, Partner at Inovia Capital. “Emily and Channing (founders of Plenty) have crafted an extraordinary product that fills a crucial gap in the fintech landscape, aimed at the needs of millennials.”