Alice raised €1 million from Cavalry Ventures, Berlin Ventures and business angels from Germany.

Alice, a Berlin, Germany-based startup building a financial application designed to teach women how to make financial investments, announced closing a seed funding round of €1 million ($1.2M).

The money was raised from a range of local investors from Germany including Cavalry Ventures, Berlin Ventures as well as angels Verena Pausder and Philipp Pausder, Lea-Sophie Cramer, Emma Tracey, Doreen Huber, Kerstin Schiefelbein and Lara Von Tippelskirch.

Alice, founded by Andrea Fernandez and Artyom Chelbayev in 2020, aims to help women optimise their finances via a financial app focused on tailored education and simple-to-use tools that enable women to meet their saving and investing goals.