Female Invest has bought trading platform Gaia Investments including the chief technology officer who built the product.
After the acquisition, the platform will be further developed with an aim to integrate it in the existing Female Invest app when the timing is right.
In 2021 Female Invest was part of the prestigious tech accelerator Y Combinator and has since worked on extending its product offering to include an ethically focused trading platform.
Female Invest has paying members in 89 countries globally but will initially offer trading to members based in the UK and the EU.
Gaia Investments has been a fully functioning app-only trading platform in Denmark with a strong focus on sustainability.
Gaia’s product strongly aligns with Female Invest’s vision for its future product expansion and the acquisition will mean a significant reduction in development time.
The purchase of Gaia Investments includes acquiring the previous CTO Mads Sverre Willumsen, who has joined the existing team of software engineers at Female Invest.
He will work on the existing product road map and lead the efforts of bringing Female Invest’s future trading offering to market.
In a 2022 report, the International Monetary Fund stated that there are very few women founders in the fintech industry.
In a fintech space where only 1% of funding goes to female founders, and where no major trading platform has been launched by a woman, Female Invest said this acquisition will “shatter glass ceilings”.
Anna-Sophie Hartvigsen, co-founder of Female Invest, said: “Since starting Female Invest in 2019, our members have asked us every single day to create a trading platform so we are super excited by this development.
“We’re as eager as our members to get the trading platform incorporated into the app, but the front-office changes and testing will require patience and we want the final product to be sublime.
Camilla Falkenberg, co-founder of Female Invest, said: “We see Female Invest as eventually becoming the…
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