Alice raises EUR 1.1m to build a finance app for women
Berlin, March 11th, 2021 – Berlin-based finance app Alice has received EUR 1.1m in pre-seed funding. The round is led by early-stage investor Cavalry Ventures, with Berlin Ventures also participating. Alice has also attracted prominent, predominantly female angels as additional backers, including Verena Pausder (Fox & Sheep, Ada) and Philipp Pausder (Thermondo), Lea-Sophie Cramer (Amorelie), Emma Tracey (Honeypot), Doreen Huber (Lemoncat), Jessica Holzbach (Penta), Kerstin Schiefelbein (Cobranded Studio) and Lara Von Tippelskirch (Glossybox).
“We have made it our goal to help women take action on their financial future. Our finance app will focus on functionalities and curated content that will enable women to achieve their savings and investment goals. We are excited to have inspired so many successful women entrepreneurs and VCs with our vision,” said Andrea Fernandez, co-founder and CEO at Alice.
A financial app for the entire lifespan
Alice will stay in close contact with its customers throughout their financial journey, delivering tailored and relevant content and proactively adapting investment strategies to the customer’s life stage. The app will put goals at the heart of its solution, relegating the pure mechanics of investing to the background. The long-term vision is to provide independent financial solutions for women across their lifespan.
Current gender-neutral financial products are not sufficiently designed to meet the specific needs of women since: “Women experience life events that are different from men’s, such as motherhood, as well as those that affect them differently, such as separation. Our solution will be smart enough to respond to such events or proactively prepare the client for them. Moreover, the solution will combine both savings and investment goals into one,” explains Artyom Chelbayev, co-founder at Alice.
Next milestone: App launch in 2021
Alice intends to use the newly raised capital first and foremost to build up the product, which is scheduled to launch in 2021. To do this, Alice will first build a team and set up a content and marketing approach focused on women.
“Women are becoming wealthier as more women enter higher-paying jobs, advance in their careers and inherit the wealth of post-war generations. In addition, women are increasingly participating in the growth of their wealth. This is a very encouraging development that needs to be fostered with appropriate tools. And we are firmly convinced that Andrea and Artyom are the perfect team for this,” comments Stefan Walter, Managing Partner at Cavalry Ventures.
About Alice
Alice was founded in 2021 by Andrea Fernandez and Artyom Chelbayev. Alice helps women to optimise their finances. The pan-European financial app focuses on tailored education and simple-to-use tools that enable women to meet their saving and investing goals. The Berlin-based team is currently working on the MLP (minimum lovable product), which will be launched mid 2021.
About Cavalry Ventures
Cavalry Ventures is a European early-stage venture capital fund focusing on pre-seed and seed stages. With the launch of the second fund generation in 2019, Cavalry Ventures manages a total volume of 120+ million euros. Cavalry Ventures was founded in 2016 by Rouven Dresselhaus, Claude Ritter, Stefan Walter, Markus Fuhrmann, Marcel Hollerbach, and Dominik Matyka. In addition to the expertise of the partners, the portfolio companies gain access to a cross-sector, global and exclusive network of more than 180 angel investors, entrepreneurs, scientists, business experts, and many more, who provide advisory and operational support in areas such as strategy, organisational development, product development, sales, international expansion, recruiting and marketing. The portfolio comprises more than 40 companies such as Forto, McMakler, REKKI, BRYTER, and PlanRadar. Cavalry Ventures is headquartered in Berlin and invests across Europe. In 2021, Cavalry was awarded the “Hottest Seed” award at The Europas Tech Startups Awards
For more information: www.cavalry.vc.
Press contact
Andrea Fernandez, andrea@aliceapp.de
Lena Ostrovskih, lena@cavalry.vc
