Investment apps are primarily aimed at young men. Now, startups led by women want to drive a generational change in investment habits.

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Your Juno financial education platform.
  • A new generation of fintech apps want to make equity trading and finance more accessible to women.
  • Startups like the Juno financial education platform that were designed for women.
  • Triin Hertmann, co-founder of the investment app Grünfin, says women are “totally underserved” by fintech.

While tech startups in Europe enjoyed a record-breaking fundraising year in 2021, it was mostly male founders who benefited.

Investors injected $ 121 billion into startups in the region, but only 1.1% of the money went to women-led businesses, according to Atomico State of European Technology Report.

This uneven distribution of funding may explain why fintech products – the continent’s largest startup sector – do not always meet the needs of half the population.

Women tend to suffer in terms of both financial access and literacy, according to the Global Center of Excellence for Financial Literacy, which suggests that a perceived lack of knowledge and confidence makes female consumers reluctant to participate, for example, in stock trading.

And a study of 300 press articles from British challenger bank Starling found that 65% of articles defined women as excessive spenders and 70% of articles defined money as a male ideal.

“This is one of the biggest issues affecting women and it’s something that will require generational change to change,” said Alexia de Broglie, co-founder of the financial education platform for women Your Juno, at alongside his sister Margot.

“The media tends to push women to save and budget rather than invest, the perception is that investing is not for them, and it makes investing look like a boys club.”

Grünfin co-founders Karin Nemec (CEO) and Triin Hertmann (COO).
Grünfin co-founders Karin Nemec (CEO) and Triin Hertmann (COO).

A perception the “frat bro” culture around, for example, the GameStop day-trading saga and the fact that crypto and other investment apps are marketed by predominantly male executives of companies like Robinhood doesn’t help.

“Women are totally underserved as a segment of fintech, with most investment products marketed to young men,” Triin Hertmann, an early employee of fintech Wise and now co-founder of Wise, told Insider. Grünfin sustainable investment app.

“Events like GameStop suggest that investing is short term and based on greed,” she added. “The broadest tendency for women is to want education, community, impact and the data indicates that women are more loyal customers with better lifetime value who will buy more products.”

De Broglie and Hertmann both told Insider that an improvement in the number of female founders, angel investors, CEOs, financial influencers, and a wider awareness among younger generations of these issues are making a difference in funding and the expansion of their startups.

During the COVID-19 pandemic, more women invested in the stock market in the United States. Nearly 67% of women currently invest outside retirement accounts, up from 44% in 2018, and tend to outperform men while they are there, according to Fidelity Investments 2021 Women and Investing Study.

Another major shift has been the rise of Millennials and Gen Z investors, a key target market for Your Juno. These young investors increasingly get their financial information from social media sources like TikTok and Instagram. They seem to constitute the number of new registrations to investment applications, suggesting that information circulates more easily for the younger generations.

“I really believe that the change of generation and wealth is happening,” added Hertmann. “I think women are underserved when it comes to investing, but I believe they are coming.

“We’re not dumb, women just want different kinds of information or a different approach that leads to better, longer lasting results.”


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