Plenty’s New Wealth-Building App Targets Couples on a Budget

Financial Planners


Image credit: Plenty / Channing Allen and Emily Luk, co-founders of Plenty

Relationships are complicated, but thanks to some fintech companies, it’s now easier than ever to get a handle on the modern couple’s financial situation.

Plenty, a year-old company that helps couples discuss, manage and invest money together, is the latest platform to launch wealth building opportunities based on relationship status. Focused on millennials seeking access to

Co-founders Emily Luk and Channing Allen met while working together at Even, which was acquired by One in 2022. The two got engaged in late 2021 and came up with the idea for Plenty while looking for a product to help them with their financial planning. Together, Luk told her TechCrunch.

Luk recalled finding options to increase wealth when he was already wealthy, but when it comes to people who don’t fall into that category, he offers products without high up-front fees and potentially predatory advice. He said his options were limited, including the products he would buy.

After leaving One last year, they began building Plenty as an SEC-registered investment advisor with a goal-based approach to investing. It also has automated predictions to help couples plan for milestones they want to achieve together, such as paying off student loans, buying a home, or having a child.

Here’s how it works: Wealth building platforms allow users to participate as individuals or as a couple. Users can connect their financial accounts and choose which accounts to share with partners. There is also a money management product, a portfolio backed by money market funds, currently offering a yield of 4.83% per annum. Additionally, users can take advantage of her AI-powered direct index strategy. According to Luk, it used to require a minimum investment of $500,000.

Plenty requires an initial deposit of $100 and an annual membership fee of $150 for individuals and $200 for couples. Both get their own Plenty account.

Viewing goals in Plenty. Image credit: many

The company is now among a swarm of companies including Honeydue, Zeta, Ivella and Ensemble, a co-parenting divorcée company.

Luk said many of Plenty’s competitors have tailored their offerings for a “much younger and less mature relationship”, with a focus on budgeting and deal splitting.

“What we’re looking at is the median household income above $90,000 or in the low $100,000 range,” Luk said. “Most of these people are wondering why they are reaching big milestones in their lives. It’s more like something a financial planner can help someone with, rather than a creation solution.”

Zeta, Ivella and Ensemble have all been founded within the last three years, and Plenty has also participated in attracting venture capital. The company announced today that it has raised $2.75 million in pre-seed capital from a group of investors including Phenomenal Ventures, Kevin Durant and Rich Kleiman’s 35V, former Wealthfront CEO Adam Nash, Xtripe Angels and Inovia Capital.

Much of the new capital will be used for hiring and product development.

Plenty is still in its early stages, but it’s already generating revenue. Luc and Allen themselves have been using the product since January, and the waiting list continues to grow, though Luc didn’t elaborate on how long. Along with the price increase announcement, Plenty also announced an “early access” period for users.

Our next goal is to roll out new savings products, such as treasury bills, to help 1 million households add $1 million to their retirement lives.

“We still have a lot of building to do before we get to that point,” Lux said. “It’s about getting more people onboard with this product and thinking about other goals people have right now, such as having pets, egg freezing, in-vitro testing, and anything else relevant to our generation.”





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