The EdTech platform Female Invest, which aims to close the financial gender gap, has raised a record-breaking £8.7m ($11.2m) in Series A funding. This was inspired by the realization that there is a lack of women attending personal finance educational events, as well as a wider unaddressed gender disparity in investments and savings. The business now has 73,000+ paying members across 123 countries and has become a global movement. The funding round was led by Educapital and Rubio Impact Ventures.
As part of the round, members were allowed to become part owners of the company through crowdfunding, raising $1m in just four minutes. According to Emma Due Bitz, this success highlights the powerful target group of women despite them only raising 2% of capital due to unique and discriminatory barriers. Female Invest hopes the fundraise is part of a larger change in smashing stereotypes of what an investable founder looks like. The company plans to use the funds to accelerate its US expansion.
Venture capital investor with Educapital, Marie Geneste, explained why they backed Female Invest, emphasising the importance of financially educating and empowering women. The company is based in London and Copenhagen and offers a subscription-based model, with monthly membership costing $13 and annual membership $139. Their community has grown to 450,000 women who have access to a wide range of learning materials.
Female Invest has seen remarkable success, as all three co-founders were named in the Forbes 30 Under 30 list for 2020. We thank our amazing community, team, and investors for being on this journey with us and we can’t wait to smash more glass ceilings together.
