Female Invest: Empowering Women in Finance
In a world where financial literacy and investment opportunities are often skewed towards men, Female Invest is making waves as a transformative platform dedicated to empowering women. Recently, the finance app announced the successful closure of its Series A funding round, raising an impressive €10.3 million. This milestone not only underscores the growing demand for female-centric financial education but also highlights the platform’s commitment to bridging the gender investment gap.
A Growing Community of Investors
Since its inception in 2019, Female Invest has rapidly gained traction, boasting over 73,000 paying members across 123 countries. The platform has cultivated a vibrant online community, with more than 512,000 followers on social media. This engaged community is a testament to the increasing recognition of the need for accessible financial education tailored specifically for women.
Record-Breaking Crowdfunding Campaign
In July 2024, Female Invest secured €9.4 million in funding, primarily led by venture capital firms Educapital and Rubio. Additionally, the company launched a crowdfunding campaign on Seedrs, exclusively for its members, which raised an additional €900,000. This campaign shattered several records: it garnered over 12,000 pre-registrants, raised €900,000 in just four minutes, and achieved an unprecedented 94% female participation among investors. These achievements are particularly significant in a landscape where female-founded companies receive less than 2% of venture capital funding, positioning Female Invest as a pioneer in multiple domains.
Co-founder Camilla Falkenberg expressed her astonishment at the overwhelming response: “We are absolutely astounded that our community invested $1 million in just 4 minutes, especially considering we had a cap on how much each member could invest. For years, our members have requested a crowdfunding campaign, so we knew the demand was there, but we anticipated it would take at least a few days to fill the round.”
Founders with a Vision
The vision behind Female Invest was born from the personal experiences of its founders—Emma Due Bitz, Camilla Falkenberg, and Anna-Sophie Hartvigsen—who noticed a conspicuous absence of women at personal finance events. Recognizing the gender disparity in investments and savings, they set out to create a platform that would empower women to take control of their financial futures.
Their journey has been marked by significant milestones, including participation in the prestigious Y Combinator accelerator in 2021 and co-authoring the Sunday Times Best Seller “Girls Just Wanna Have Funds.” Each of the co-founders has been recognized in Forbes’ 30 Under 30 list for finance, and they have received endorsements from influential figures like Hillary Clinton and Emma Watson, further amplifying the platform’s visibility and credibility.
Expanding Horizons
With a staggering Compound Annual Growth Rate (CAGR) of 240%, Female Invest is on a trajectory of remarkable growth, attracting users from 120 countries, with 40% of its user base located in the UK. The recent influx of capital will enable the company to officially launch in the US, expand its trading offerings, and scale its operations further.
Addressing the Gender Investment Gap
The statistics surrounding gender disparities in finance are stark. Currently, 70% of stocks are owned by male investors, and women retire with about two-thirds less in their pensions compared to men, according to a Nest survey from October 2020. Female Invest aims to address these inequalities by equipping women with the skills necessary to manage their finances and achieve financial independence. Research from Warwick Business School indicates that women who invest tend to outperform men in terms of investment returns, reinforcing the necessity for a female-centric financial platform.
A Mission to Close the Gap
Anna-Sophie Hartvigsen, another co-founder, articulated the platform’s mission: “Women are falling financially behind in every single country. They earn less, save less, and invest less with what money they do have. Our goal at Female Invest is to close this gap as quickly and effectively as possible.”
Camilla Falkenberg further emphasized the need for a shift in financial advice tailored to young women: “Financial advice for women often focuses on saving money on beauty, clothes, food, and going out. However, there is a significant gap in resources that help women grow their money through investments. Female Invest fills this void.”
Changing the Narrative in Finance
Emma Due Bitz, who began her career as a certified stockbroker at the age of 20, highlighted the traditional male dominance in the financial industry. She noted, “The financial industry has traditionally been dominated by men, reflected in its communication style, corporate culture, and product offerings. While this isn’t intentionally exclusive, it often results in the exclusion of women. Female Invest aims to change that.”
Through its innovative approach, Female Invest is not just a finance app; it is a movement aimed at empowering women to take charge of their financial destinies. By fostering a supportive community and providing essential resources, Female Invest is paving the way for a more equitable financial landscape.