A veteran Wall Street bigwig just raised tens of millions of dollars for her roboadvisor.
Last week Ellevest told
the SEC that it recently sold nearly $32.5 million worth of equity (another $2.2 million of equity was offered but not sold). Ellevest, led
by none other than former Merrill wealth management chief Sallie Krawcheck
, is a roboadvisor focused specifically on women.
, Crowdfund Insider
, and Financial Planning
all reported on the move. Meanwhile, Krawcheck also just hired Ellevest's first chief marketing officer, Lisa Stone
, Fast Company reports
There's no word on how big of a stake of Ellevest was sold in the offering, so it's not clear what the robo is currently valued at.
Ellevest grew out of Ellevate, a network promoting women as business leaders. Ellevate also teams up with Pax World to power an index mutual fund.
Neil Anderson, Managing Editor
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