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The former Citigroup and Bank of America executive has raised a $10m Series A to develop a robo advisor for women. The Series A was led by Morningstar, with participation from industry heavyweights such as Mohamed El-Erian, chief economic adviser at Allianz and the former CEO of PIMCO; Ajay Banga, president and CEO of Mastercard; and Brian Finn, former president of Credit Suisse.
The initiative—called Ellevest—doesn’t officially launch until next year. Krawcheck will be the company’s CEO and Charlie Kroll, founder of fintech startup Andera, will serve as Ellevest’s president and COO. Krawcheck has yet to release any details about what the platform will actually entail. She declined Fortune‘s request for an interview. (Morningstar did not respond to an interview request.) “It’s time to turn our attention to another gender gap: the investing gap,” Krawcheck said in a statement. “It’s time to give women an investing experience built specifically for them.” A veteran of the financial world, Krawcheck previously held top posts at Citigroup and Bank of America. In 2013, she bought women’s networking group 85 Broads from former Goldman Sachs executive Janet Hanson.
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