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Last week, I had the pleasure of listening to Sallie Krawcheck, CEO and co-founder ofEllevest, at CB Insight’s Future of Fintech conference. (Krawcheck, a legend on Wall Street, is the former president of global wealth & investment management division atBank of America.)
Krawcheck, who spoke last week during a keynote, criticized how women are perceived to be not as good of investors as men. “Not True,” Krawcheck said. CNBC is geared for men, she said, while women get frivolous advice asking them if they’re a “Carrie or a Miranda.”
To help women take control of their investments, Krawcheck founded Ellevest, a digital platform. In March, Ellevest raised $33 million in a round led by PSP Partners and Rethink.
Women do think differently about investing, she said. The group is more interested in having the financial ability to “leave the job they hate, buy the home we want or have a child.”
Women, she said, get better returns, Krawcheck said. “That’s all there is to it.”
I also checked in with Arik Shtilman, co-founder and CEO of Rapyd, a fintech that helps businesses and customers get paid however they choose. The London company integrates local payment methods like bank transfers, e-wallets and cash into digital applications like API. Rapyd raised $40 million in a Series B round led by Stripe and General Catalyst in February, PitchBook said.
Shtilman, who spoke on the sidelines of the fintech conference, said no other company, except for PayPal, provides all-in-one fintech services like Rapyd. Many companies in the payments space are “one trick ponies” that will likely be swallowed up by bigger players, he said. Shtilman plans to build Rapyd into becoming the “AWS of fintech”, referring to how Amazon’s cloud services let anyone develop and deploy a web service.
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