Fintech Albert used this 10-page pitch deck to raise a $100 million Series C from General Atlantic and CapitalG


Yinon Ravid, the chief executive and cofounder of Albert.

  • Albert offers automated savings, budgeting, and investing tools. It now has a new cash account tool.
  • Deposits in Albert Savings doubled from $350 million to $700 million during the pandemic. 
  • Read the pitch deck Albert used in January to raise a $100 million Series C round.

The COVID-19 pandemic has underscored the growing preference of mobile banking as customers get comfortable managing their finances online.

The financial app Albert has seen a similar jump in activity. Currently counting more than six million members, deposits in Albert’s savings offering doubled from the start of the pandemic in March 2020 to May of this year, from $350 million to $700 million, according to new numbers released by the company. 

Founded in 2015, Albert offers automated budgeting and savings tools alongside guided investment portfolios. It’s looked to differentiate itself through personalized features, like the ability for customers to text human financial experts.

Budgeting and saving features are free on Albert. But for more tailored financial advice, customers pay a subscription fee that’s a pay-what-you-can model, between $4 and $14 a month. 

And Albert’s now banking on a new tool to bring together its investing, savings, and budgeting tools.

On Tuesday, Albert announced the wide release of a new cash account that CEO and cofounder Yinon Ravid said will integrate all of the fintech’s guided and automated financial offerings in one place and allow for easy money transfers within the app. 

“To really be the customer’s primary financial relationship, we want to build a better bank account so this all works seamlessly for them,” Ravid told Insider. 

“We spent about a year building it, to combine it all together. Now when you start to use the Albert experience, the app starts with Albert Cash,” he added.

The cash feature, which was in a beta-testing mode until Tuesday, includes what Ravid termed “table stakes” for banking services these days: no maintenance and minimum balance fees, early paycheck deposit, and access to 55,000 free ATMs. 

Albert currently partners with Ohio-based Sutton Bank to provide banking services.

A centerpiece of Albert Cash, Ravid said, will be a cash-back program through which customers can receive up to 20% back on purchases at retailers. These merchants are the ones most commonly frequented by Albert users. Customers will be offered “between five and 10” cash-back offers at any given point in time that are automatically redeemable for cash after spending.

“We analyzed over a billion transactions on Albert that we’ve had from our users. And we’ve picked dozens and dozens of the top merchants, aiming to get coverage on about a hundred,” Ravid said.

In August, Albert was featured in Insider’s list of up-and-coming consumer fintech startups to watch. 

Ravid shared a pitch deck — with some sensitive company info removed — Albert used to raise a $100 million Series C round in January. The funding was led by General Atlantic with participation from previous investors CapitalG, Alphabet’s growth fund, and QED, among others. 

Read the 10-page deck Albert used to raise its Series C.



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