- Girls-focused roboadvisor Ellevest acquired a $53 million Sequence B funding, bringing its whole funding to $153 million.
- The corporate will use the funds to deepen its choices and to assist fulfill its purpose of getting more cash into the fingers of girls.
- Ninety % of the buyers within the Sequence B spherical are girls and underrepresented buyers.
Girls-focused wealthtech startup Ellevest simply raised $53 million in Sequence B funding to satisfy its mission to get more cash into the fingers of girls.
BMO and Contour Enterprise Companions co-led the spherical, which brings the corporate’s whole funding to $153 million. Contributions additionally got here from new buyers Halogen Ventures, Cleo Capital, Stardust Fairness, The Enterprise Collective, Envestnet, in addition to the LGBTQIA+ funding syndicate Gaingels. Current buyers Pivotal Ventures, Enterprise Fund, Khosla, AME Cloud Ventures, Rethink Affect SPV, Salesforce Ventures, PayPal Ventures, and Allianz Life Insurance coverage Firm of North America additionally contributed.
Ninety % of the buyers in as we speak’s Sequence B spherical are girls and underrepresented buyers. “What we’ve received right here is girls investing, girls investing in girls, and ladies investing to assist girls make investments,” the corporate acknowledged within the press launch.
“Ellevest was constructed by girls, for girls. Additionally it is funded by girls, with 360 girls and underrepresented buyers collaborating on this funding spherical. This group acknowledges that ladies have been disproportionately shedding monetary floor, and that’s unhealthy information for all of us. Ellevest has a key function to play in addressing this situation: to assist girls — and their households — rewrite their monetary narratives and thrive,” stated Ellevest CEO Sallie Krawcheck.
Based in 2014 by Krawcheck, Ellevest has grown to $1.44 billion in belongings beneath administration. The corporate will use as we speak’s funding to deepen its choices, which at present consists of a roboadvisor, monetary and profession teaching, insurance coverage, and a digital financial institution with a debit card that provides a financial savings roundup software and cashback rewards.
Along with its monetary services and products, Ellevest additionally serves monetary content material to its neighborhood of three million members, a quantity that features Sallie Krawcheck’s connections on LinkedIn and Ellevest’s followers on Instagram.
Picture by Anastasia Shuraeva