Dealflow | April 4, 2019

Ellevest raises $33 million for women’s investment platform

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, April 4 – Ellevest, the online investment services company started by Wall Street veteran Sallie Krawcheck, raised a $33 million funding round from Rethink Impact and PSP Growth, with backing from Melinda Gates’ Pivotal Ventures, PayPal, Mastercard and several high profile individuals including President Obama advisor Valerie Jarrett and former Google and Alphabet chairman Eric Schmidt.

Ellevest structures investment portfolios—which include an impact option—around women’s career and earning curves. It also offers financial planning support and career coaching.

The company launched in 2016 and recently passed $100 million in assets under management. (The average age of its clients is 34, and their primary goal is building wealth and then saving for retirement.)

Ellevest will use the capital to support growth, but also to develop financial education resources for women.

Sallie Krawcheck raises $34 million for women-focused robo-adviser