New York based investment advisor for women Ellevest has raised $34.6m in Series A funding led by Rethink Impact. The platform tailors investments to the realities of women's careers: they face a gender pay gap, they live longer, and their salaries peak earlier than men's.
With this funding round, Ellevest will add human financial planners as an option to complement its roboadvising services. That's something other investing startups like Betterment have also added recently. Those changes have helped roboadvisors tap slightly older customers who are more comfortable using a roboadvisor when there's also someone they can talk through their finances with. “I’m thrilled these global leaders—who are female 'firsts' and technology innovators—are joining Ellevest’s mission to end the gender gap in investing and personal finance,” Ellevest CEO and Wall Street veteran Sallie Krawcheck said in a press release. “We will use this new funding to build on the momentum in our digital offering, and develop solutions with women in our community who are asking us for human interaction and financial planning services.”