Female Invest Raises $11 Million in Series A Funding to Empower Women Financially
July 2024 was a historic month - for us as a company, our community, and the startup industry. Why? Because raising money as a female founder is close to impossible, with just 2% of funding going to female founders. Needless to say, raising $11 million in our recent Series A funding round is an incredible milestone, but this is just the beginning.
Female founders receive just 2% of funding globally.
In a financial world largely dominated by men, raising $11 million in a Series A is a rare achievement, as women continue to face unique and discriminatory barriers and bias in accessing funding. How bad it is? Let’s take a look at a few facts.
- About 8% of partners at the top Venture Capital firms are women [1]
- All-male founding teams receive 93% of the capital invested [2]
- Only 1 female CTO out of 175 CTOs that work at VC-backed European tech companies that raised a Series A or Series B in the past year [3]
- The total micro, small, or medium enterprise (MSME) finance gap for women is estimated to be valued at $1.7 trillion
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Women face discriminatory barriers
Throughout the past few years, more and more evidence has shown that we judge women in leadership roles much more than men and that hiring managers, for instance ,simply don’t see potential in women in the same way that they do in men. Another example is the bias that female founders face when pitching to potential investors. Here, multiple studies show evidence of favourable reactions to male entrepreneurs during pitch meetings (even when content is the same) and asking different questions of female and male founders during due diligence. [4]
To break the cycle and create lasting change, increasing female representation at all levels is essential. We need more women founding and leading their own companies, where they can drive innovation and set new industry standards. It's equally important to have women in top executive roles within major corporations. These positions not only allow them to shape strategic decisions but also enable them to serve as powerful role models for other women in the organisation, inspiring the next generation of female leaders.
Moreover, the lack of women in venture capital firms is a glaring issue. Currently, only about 8% of partners at leading VC firms are women, which highlights a significant diversity gap. This imbalance is deeply problematic, because 50% of the population is not qualified to make decisions on behalf of the entire population.
Breaking Records and Smashing Stereotypes
We hope our milestone of raising $11 million in our Series A against these odds signals a shift in breaking down stereotypes of what an investable founder looks like. Led by prominent venture capital funds Educapital and Rubio, our Series A funding round is a testament to the growing recognition of the importance of female-focused financial platforms. It represents a major step forwards for our company and community, propelling our mission to close the financial gender gap.
Raising $1 million in 4 minutes
As part of our Series A funding round, we set aside a portion of shares for our members to join us for the next chapter. We launched a crowdfunding campaign exclusively for our members, which broke several world records. Over 13,000 people pre-registered, and within just four minutes, we raised $1 million USD. Even more impressive is that 94% of the investors were women, making it the highest number of female investors in any crowdfunding campaign to date.
“We are absolutely astounded and humbled that our community invested $1 million in just 4 minutes, especially considering we had a cap on how much each member could invest,” said Camilla Falkenberg co-founder of Female Invest as a reaction to the overwhelming support from our members. The enormous support and interest is a testament to our mission, and clear evidence that there is a high demand for financial education targeting women.
With over 73,000 paying members across 123 countries and a thriving online community of more than 512,000 followers, Female Invest is more than just an app—it’s a movement. It’s a place where women come together to learn, share, and take control of their financial futures.
“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,” says Co-founder Anna-Sophie Hartvigsen.
Forever a Community Driven by Women, For Women
Founded in 2019 by Emma Due Bitz, Camilla Falkenberg, and Anna-Sophie Hartvigsen, Female Invest was born out of the frustration of the lack of female representation in the financial industry. When attending events centred around personal finance and investing, they witnessed first hand that women were noticeably absent. Having no role models and recognising this gender disparity in investments and savings, they decided to change the narrative and created a platform to close the financial gender gap.
Co-founder Camilla Falkenberg sums it up perfectly: “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. We’re here to change that.”
Looking to the Future
The new capital from the Series A funding round will fuel the goal of creating the best possible app combining financial learning, investing and community, targeting women. The goal is simple yet ambitious: to ensure that every woman, no matter where she is in the world, has the knowledge and confidence to invest in her future.
As the largest finance app for women, we want to not only help women manage their money; we want to help women rewrite their financial stories. And with every new member, every new investment, and every new milestone, the future looks brighter than ever.
Ready to take control of your financial future? Start your membership today to learn more, join the community, and start your journey towards financial empowerment.