Women's rights campaigner Jude Kelly has joined forced with former banking executives Olga Miler and Jacki Zehner on a money coaching and learning start-up, called SmartPurse, aimed at making financial education affordable and accessible to every woman.
The brainchild of Women of the World Festival founder Kelly and former UBS exec Miler, SmartPurse offers women access to bespoke financial coaching and a learning toolbox designed to help users achieve financial independence.
The business is being backed with £500,000 in angel investment capital from, among others, former Goldman Sachs partner Zehner.
Costing £96 per year, SmartPurse delivers 16 educational modules, all co-created by women, on themes such as divorce, retirement, investment and saving. Members also have access to a variety of in-person sessions and courses. The firm also offers a platform to more conveniently find and connect with credible financial advisors who "understand women’s lives first-hand".
Meanwhile, a ‘freemium’ model means educational resources are available free of charge for women who do not wish to sign-up to the full proposition.
The service is already up and running, with close to a thousand members and pilot schemes ongoing in corporates. It now plans to expand beyond the UK and Switzerland while scaling its licencing and partnership model for employers to become a key part of benefit packages.
Says Zehner: “For too long women have been marginalised when it comes to their money. Despite much progress, the financial fallout from the pandemic is a dangerous set back, expected to hit women the hardest and further exacerbate existing pressures on all aspects of their lives.
“Now more than ever, there is a need for an accessible and affordable and safe space where women can equip themselves with the tools they need to make the most of their money."