Venus Williams, the first black American woman to become the top-ranked tennis player in the world, recently became one of the many investors for Ellevest. The $9 million funding round will help the digital investment platform on its mission to give women an investing experience.
Ellevest is run by CEO Sallie Krawcheck and is a company made especially for women in an attempt to close the gender investing gap, a cause the businesswoman has championed. Williams has an extensive background in standing for women’s right for equal pay dating back to 1998.
“I feel like we’ve had so many parallels in our lives,” Williams told Fortune of Krawcheck. “This is really me believing in her.”
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Back in 1998, the female victor at Wimbledon had collected less than the male ever since the tournament began back in 1880. In 2005, when both Williams and Roger Federer won their respective championships, Federer found himself with a prize that was 9.5% more than Williams’ ($1.13 million vs. $1.09 million). Finally in 2007, a statement was released from chairman of the All England Club, Tim Phillips, mentioned that the committee had “decided that the time is right to bring this subject to a logical conclusion and eliminate the difference.”
Ellevest is a company full of go-getters, both women and men, who are working to eradicate the pay gap. In addition to the star tennis player, individuals such as Mellody Hobson (President of Ariel Investments), Theresia Gouw and Jennifer Fonstad (co-founders of Aspect Ventures), Miriam Rivera (former Deputy General Counsel at Google) and many more are investors.
“This incredible group of individuals is investing in other women to promote the message about the importance of taking financial control,” Krawcheck said in a statement. “They have each broken down barriers in their own careers and are now turning to closing the gender investing gap; we’re thrilled to have them as investors in Ellevest.”
According to Ellevest, women control about $5.1 trillion of wealth, so making proper investments is important. It is hoped that, with the help of the fintech firm, these women will be able to reach their long-term investment goals such as starting a business, retiring well-off or buying a home.