Fintech startup ElleXX raises 1.43 million francs via crowdinvesting
The platform, which aims to change financial inequality for women and empower them to become financially self-sufficient, raised a record amount in two days via crowdfunding in May.
Female founders often have a much harder time than male founders. For example, they receive only one percent of venture capital in Europe, with the rest going to founders. Yet women found 21 percent of European startups. This means that they have a disproportionately low access to capital. Now, in May, ElleXX Universe was able to break through the million mark in just two and a half days and, according to the company, has thus achieved the largest crowdfunding ever achieved by female founders in Europe.
The Platform for Women was founded by journalists Patrizia Laeri and Nadine Jürgensen and creative designer Simone Züger. The platform wants to change the structurally caused financial inequality of women and at the same time empower women to financial independence and investment courage.
New chapter for equality
The financial milestone underlines the innovative strength and commitment of female founders in Europe. The success of this campaign opens a new chapter for equality and recognition of women in the corporate world. It is proof that outstanding ideas and innovation know no gender boundaries and that women's success in entrepreneurship is not a
exception, but should be the rule.
1,379 investors have placed their trust in the ElleXX team, betting on the female finance platform. 85 percent of the new ElleXX co-owners are women. Co-founder and Chief Innovation Officer Simone Züger explains, "We are witnessing a bit of the future of finance here. elleXX issued purely digital shares that could only be purchased via a wallet. People are ready for this change, which democratizes the financing of startups to a certain extent. This will make it easier to access capital and enable broader participation."
The newly acquired capital will be invested in new products and technology. The goal is a consumer-friendly finance app with an S-focus. Later, expansion into the DACH region is planned.
