Wealthtech start-up for women Propelle launches in the UK
Propelle, a London, UK-based investment platform specifically designed for women, is launching with the goal of closing the gender wealth gap and empowering women to “take control of their financial futures”.
Propelle is an investment platform designed for women
Founded by former Goldman Sachs executive director and wealth adviser Ayesha Ofori, the start-up’s solution combines community support, financial education, and a variety of investment options, all designed specifically for women.
The new platform will allow users to invest in traditional options like ISAs and funds, while also offering alternative investments such as art, wine, fractional real estate, and start-ups.
This remit will be paired with investment opportunities that align with a user’s values, including sustainable and Shariah-compliant choices.
The app is free to download, offering features like general investment account options and monthly webinars. Financial workshops, educational courses, on-demand webinar replays, and access to recommended financial experts will be available via monthly subscription.
Propelle has so far secured over £1.2 million in pre-seed funding, with women reportedly comprising 90% of the most recent investors.
This accomplishment is particularly noteworthy given the decline in financing for female-led fintechs in the UK during H1 2024. According to an Innovate Finance report, only 7% (approximately $136 million) of the $2 billion raised went to female-led companies, down from 10% in 2023.
Looking ahead, the firm plans to introduce additional features and tools, including digital financial planning, intelligent goal setting, and enhanced risk assessment.
