Sallie Krawcheck has launched an “investing experience” built for women.
Ellevest, a new digital investment platform for women launching in early 2016, announced on Monday a $10 million Series A financing round led by Morningstar Inc.
“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. Ellevest will be unlike anything else out there and will empower women to take financial control of their lives.”
The former head of two wirehouse wealth management units — Bank of America Merrill Lynch and Citi — strongly defended the robo-advisor model in an interview back in February, and some questioned then whether that meant a move into the robo-space.
Ellevest was founded by Krawcheck, who will become the new platform’s CEO, and Charlie Kroll, who will become its president and COO.
Prior to Ellevest, Kroll founded Andera and served as CEO of the venture-backed fintech company, growing the company from a startup to an industry leader until its sale in 2014.