Founders: Sallie Krawcheck (CEO), Charlie Kroll (president)
Launched: 2014
Headquarters: New York City
Funding: $19 million
Source: Ellevest
Sallie Krawcheck, co-founder and CEO, Ellevest
Sallie Krawcheck knows a thing or two about money. As the former CFO for Citigroup and head of Merrill Lynch, she's been among the highest-ranking women in finance. Now she's taken that knowledge and launched Ellevest, a digital investing platform designed for women. Her mission: Close the gender investing gap. Krawcheck understood that how much a woman makes dictates how much she invests. But since most women's salaries peak at different times from men's — and are likely to be interrupted by time off from work to care for children — their investing goals and objectives are different as well.
Ellevest takes all these factors into account and provides women (and men, too; they can use the platform as well) with an investing road map based on the life events they deem most important, whether that be starting a business, having a family, buying a home or retirement. Ellevest uses ETFs for its clients, and there is no minimum deposit to get started. It charges a .5 percent fee for assets under management and 0 percent for emergency funds set up by clients.
The company grew from 13 to 30 employees last year and has attracted $19 million in funding from a group of heavyweight investors, including Khosla Ventures and Morningstar. Tennis great Venus Williams is also an investor.
