Propelle, a new investment platform tailored specifically for women, launched on September 25 with an ambitious aim: to close the UK’s gender wealth gap.
The platform, founded by 40-year-old Ayesha Ofori, a former Goldman Sachs Executive Director, empowers women to invest confidently and build wealth.
Closing The Gender Investment Gap
During her six years at Goldman Sachs, Ofori managed over £500 million ($663 million) in client assets and saw firsthand how the investment world primarily benefited the wealthy—and predominantly men.
With the UK’s gender investment gap currently standing at £1.65 trillion ($2.19 trillion), Ofori wanted to address the disparities that leave women hesitant about investing.
In a global survey by BNY Mellon Investment Management, only 28% of women said they felt confident about investing some of their money.
Ofori noticed that many women she spoke to preferred saving over investing, often finding the investment world overwhelming and inaccessible.
“The first thing is a lot of women tell us they don’t know where to start. There’s too much information. It’s too overwhelming and they don’t have time to sit there and figure it out,” she told CNBC. “So rather than make a mistake, they just don’t do anything.”
Moreover, Ofori noted that the way investment platforms portrayed information and structured investments didn’t resonate with women’s thoughts about investing and building their wealth.
Realizing these challenges, Ofori left her job to create Propelle—a Financial Conduct Authority-regulated platform designed to make investing approachable for women.
A Holistic Approach to Investing
Propelle is built on three pillars: community, education, and investment. The platform supports women with tools like goal setting, risk assessment, and financial planning, making it easier to start investing with confidence.
Propelle offers curated portfolio options, including traditional investments like ISAs and funds from companies like Vanguard, BlackRock, and HSBC.
It also focuses on values-based investing, with options for sustainable and Shariah-compliant investments. Propelle plans to introduce alternative investments like real estate and startup opportunities, which are traditionally reserved for wealthier individuals.
Backed by Industry Leaders
Propelle has raised over £1.2 million ($1.59 million) in pre-seed funding, with 90% of the latest investors being women.
Ofori’s platform has garnered the support of high-profile figures, including Stefan Bollinger and Jim Garman of Goldman Sachs, Lucy Demery of Barclays, and founders Tamara Lohan and Maxine Laceby.
Propelle is free to download, with a Pro membership offering access to workshops and expert advice.
Ofori’s goal is to empower over one million women to invest regularly and build stable financial futures.
Inage credit: Propelle
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