Female Engage debuted in 2019, intending to build the community where women who wanted to invest in the stock market but didn’t know where to start could get the knowledge and confidence to do so. Users can now do so entirely within the Female Invest platform.
This week, the Copenhagen-based business announced the acquisition of fellow Danish fintech Gaia Investments, intending to incorporate the trading platform, which focuses on investing in companies with long-term sustainability goals, into its app. Gaia’s purchase price was not disclosed. However, the business raised USD 3 million three months before the sale.
Adding the possibility to invest directly through Female Invest is a terrific next step for the subscription edtech platform, according to Female Invest co-founder and partner Camilla Falkenberg.
“Since day one, we’ve been focused on creating the features and products that our community has demanded,” Falkenberg said. “And we have requests for the ability to trade directly via us every day.”
She said that she believes the site receives that request so frequently because its users trust it. According to a recent client poll, 96% would trust Female Invest with their money more than their banks.
Female Invest has spent the whole of last year preparing the firm more readily incorporate trade. Since their USD 4.5 million seed round in November of last year, Falkenberg stated that they’d built an app, have expanded their tech team, and have raised an additional USD 3 million in funding.
However, after discovering Gaia Investments in July, they realized that it might make more sense and also save time for Female Invest to partner with an already existing trading platform rather than build their own.
“Gaia has a very strong brand here in the Nordics and a strong focus on ethics and sustainable investing, which are both very important to us,” she said.
More about the company:
Female Invest was founded in 2019 as the creators noticed no decent resource teaching women how to start investing. When co-founder and CEO David Bentzon-Ehlers’ mother asked him in 2020 if there was a reliable platform to invest in sustainable companies, he realized the platform she was looking for didn’t yet exist.
It’s unusual for a startup to be acquired so early in its life — Gaia had just finished a TechStars accelerator program a few months earlier — Sverre Willumsen said the transaction made much more sense for Gaia because they were more interested in expanding the reach of their product rather than being startup founders.
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