Carry

Carry is a US investment and tax-planning platform that combines tax-advantaged accounts with a technology-driven brokerage experience. Its core product is the Solo 401k for self-employed individuals with no full-time employees other than a spouse, supporting pre-tax and Roth contributions, Mega Backdoor Roth conversions, penalty-free plan loans and EACA tax credit eligibility. Carry also offers Traditional and Roth IRAs and taxable brokerage accounts, and supports transfers from external brokerage and retirement accounts.

Within these accounts, members can invest in stocks, ETFs and mutual funds directly, or use automated products including a Roboadvisor and Smart Yield, a cash-management product that allocates cash to money market funds intended to reduce federal, state and local tax exposure. Carry automates standard, Backdoor and Mega Backdoor Roth conversions, and offers a Strategy AI tax agent that reviews user-supplied details to surface potential tax strategies. Pro members can hold alternative assets such as real estate, private equity, private funds and startup equity in Solo 401k and IRA accounts on a self-directed basis, and access crypto within Traditional or Roth IRAs; Carry supplies the retirement plan infrastructure while the member sources and selects the opportunities. Recurring contributions and investments can be automated.

Eligibility is limited to US citizens and legal residents aged 18 or older with a +1 phone number. Support is provided by email, with tax and investment questions directed to outside professionals.

Business model

Carry operates on a paid membership model rather than charging asset-based advisory fees for platform access. Two tiers are offered: Core at $299 per year, covering Solo 401k, IRA and taxable brokerage accounts, equities investing, and managed products such as Smart Yield and the Roboadvisor; and Pro at $499 per year, which adds crypto in Traditional or Roth IRAs and alternative investments within Solo 401k and IRA accounts. Custodial partners may levy additional fees for transaction processing, account transfers and regulatory compliance. Investment advisory services are offered through Carry Advisors LLC, while alternative investing is self-directed and outside the advisory offering.

Revenue comes from annual membership fees of $299 (Core) and $499 (Pro); custodial partners charge separate fees for certain services. As of July 2024 the company reported approaching $1M in ARR, growing about 15% month over month.

Traction

As of July 2024, roughly 18 months after launch, Carry reported more than 1,400 paying customers, tens of millions of dollars managed on the platform, ARR approaching $1M growing about 15% monthly, assets on platform growing about 20% monthly, and burn of approximately $100K per month, achieved without paid marketing spend.

Latest developments

Carry's website states the company is joining Lettuce Financial Labs.