TLDR:
Indianapolis-based financial wellness firm, Your Money Line, has secured $4.5 million in venture funding to develop an AI-powered financial coaching tool. The funding was led by Allos Ventures, with participation from other investors. Your Money Line, founded by Peter Dunn, currently provides financial education and coaching services to employers and is now working on developing an AI tool to offer more customized advice. The company anticipates adding 40-45 jobs over the next two and a half years.
Your Money Line, a financial wellness firm based in Indianapolis, has raised $4.5 million in venture funding to accelerate the development of an artificial intelligence-powered financial coaching tool. The funding round was led by Allos Ventures, along with other investors such as First Trust Capital Partners, Caresource, and Elevate Ventures. The company, founded by Peter “Pete the Planner” Dunn, initially focused on providing financial advice under the Pete the Planner brand and has now shifted its focus to offering financial coaching services to employers.
Your Money Line currently has about 300 customers, including businesses, schools, and hospital systems, that use its services to provide financial coaching as a benefit to their employees. The company is now working on an AI-powered tool that will offer personalized financial guidance based on an individual’s financial transaction history, goals, and habits. This tool aims to help individuals make better financial decisions and avoid potential financial challenges in the future.
The company plans to add 40-45 jobs over the next two and a half years, tripling its current headcount. Your Money Line previously raised $2.8 million in a seed round in 2022, bringing the total funds raised to just over $7.3 million. In connection with the investment, Allos Ventures Managing Partner David Kerr and First Trust Senior Vice President Mark Kroeger will join Your Money Line’s board of directors.
