Fintech startup, Female Invest is on a mission to boost women’s knowledge of investments. Launched in 2019 with support from Y Combinator, the company is providing a technology-driven solution for addressing financial disparities that women often face.
Through its app-based platform, Female Invest is offering various interactive learning resources, including workshops, webinars, and investment guides. The goal here is to empower women with financial knowledge and mitigate the impact of the gender wage gap.
So far, the company has enticed a diverse audience of approximately 73,000 paying members across 123 countries with its affordable $13 monthly subscription. The expansive base of subscribers clearly highlights the immense demand for such a service, much to the delight of CEO, Anna-Sophie Hartvigsen.
Looking ahead, the startup plans to obtain an investment license and initiate live trading by next year, thereby adding more value to its educational services. Hartvigsen states that this strategy is in line with their ambition to erase the entry barriers in investment practices.
Based in Copenhagen and London, Female Invest has plans for even bigger things. A successful round of fundraising has paved the way for a potential expansion to the US market by 2025.
Empowering women via investing knowledge
The company, co-founded by Emma Svensson and Sarah McLeod, is eager to tap into the untapped potential for their unique investment education offering in this new market.
Besides, a preliminary test-launch is planned for 2025 to gauge the US market’s response to their diverse services, followed by necessary adaptations if required. Female Invest’s vision is clear – to act as a catalyst for women’s financial independence in the US.
The successful fundraising afforded them with an equity funding round of $10.2 million. Educapital, a significant European ed-tech only fund, and Rubio, an impact investor, led the funding. The crowning glory was an additional $1 million, picked up via a crowdfunding campaign.
As CEO, Hartvigsen accepted that the funding process took longer than expected due to a challenging funding business climate. However, she recognized the upside to this delay as they could partner with investors bringing not just monetary support but also industry expertise for the company’s future growth.
The funds raised will be used to double their existing team of 35 within the next 12 to 18 months to align with the company’s expansion plans. Investments are also planned in upgrading product development activities, enhancing marketing strategies and customer service for both existing and new clients.
