Fintech Startup Ellevest Secures $32.5 Million

According to a recent SEC filing, Ellevest has raised $32.5 million in financing from an undisclosed investor.

Ellevest is an online financial advisory platform designed specifically for female investors. The platform calculates financial goal targets to meet women’s specific needs, including larger retirement target amounts for longer lifespan. It also suggests how much one should contribute based on individual financial profiles and a gender-specific salary curve. Unlike other online robo advisors, Ellevest use insights into users’ finances and gender to build investment portfolios to help them reach their goals or better in 70 percent of markets.