When Emily Luk, CPA, CFA and Channing Allen started talking about getting engaged, they went from sending Venmo requests to split the costs of big trips to figuring out how they would buy a house or raise kids.
Throughout the process, they realized that combining finances for people in their demographic—millennials marrying in their 30s—wasn’t simple.
“Existing institutions made this very patriarchal assumption that only one person in the relationship is ever really involved in managing the money,” Luk says.
The experience planted the seeds for Plenty, Luk and Allen’s platform to help couples manage their money. Luk, a Stripe alumna, is now the CEO of the business, launched in 2022; Allen is its chief technology officer.
The platform is debuting today, with $5 million in seed funding,?Fortune?is the first to report. Its investors include Inovia Capital, Garage Capital, Otherwise Fund, and Interplay. Meena Harris’ Phenomenal Ventures and Kevin Durant’s 35 Ventures were among its pre-seed investors.
Read more from Fortune Most Powerful Women: https://lnkd.in/efdbs_NS