SmartPurse Company Profile

Background

Mission and Vision

SmartPurse is dedicated to empowering individuals, particularly women, with the knowledge, tools, and confidence to realize their full financial potential. Their vision is to build a gender-inclusive global economy where financial equality contributes to a better world for everyone.

Primary Area of Focus

SmartPurse specializes in financial education and wellness, offering resources that enable users to learn about money management, create personalized financial plans, and engage in investment activities. Their services are designed to be accessible, impartial, and inspiring, catering to a diverse audience seeking financial empowerment.

Industry Significance

As a female-founded fintech company, SmartPurse addresses the significant gender gap in financial literacy. By providing tailored financial education, they contribute to increasing financial independence among women and drive meaningful change across the financial services industry.

Key Strategic Focus

Core Objectives

Financial Education Accessibility: Making financial education accessible, impartial, and inspiring to all individuals.

Empowering Women: Strengthening the financial independence of every woman.

Industry Innovation: Driving meaningful change across the financial services industry.

Areas of Specialization

Financial Education: Offering a comprehensive Money School with over 80 lessons and exclusive resources to deepen financial understanding.

Personalized Financial Planning: Providing tailored financial plans designed by independent experts to fit individual life circumstances.

Investment Guidance: Delivering independent reviews of financial products and providers to ensure fair returns and cost-effectiveness.

Key Technologies Utilized

SmartPurse leverages digital platforms and mobile applications to deliver its educational content and services. Their app offers interactive learning experiences, live coaching sessions, and access to a community of financial experts.

Primary Markets Targeted

While SmartPurse's services are designed for a global audience, they have a significant presence in the UK and Switzerland, aiming to expand their reach to other regions.

Financials and Funding

Funding History

September 2020: Raised £500,000 in angel investment capital from prominent investors, including former Goldman Sachs partner Jacki Zehner and Jamie Broderick, former head of UBS Wealth Management UK.

August 2023: Launched a crowdfunding campaign on Conda.ch with a funding goal of CHF 400,000, attracting 34 investors and raising approximately CHF 200,000.

Total Funds Raised

Approximately £500,000 in angel investments and CHF 200,000 through crowdfunding.

Notable Investors

Jacki Zehner: Former Goldman Sachs partner and prominent angel investor.

Jamie Broderick: Former head of UBS Wealth Management UK.

Utilization of Capital

The funds have been utilized to scale the business, expand educational offerings, and enhance technological platforms to reach a broader audience.

Pipeline Development

Key Initiatives

Money School: An extensive educational platform offering over 80 lessons and resources to enhance financial literacy.

SmartPurse App: A mobile application providing interactive learning experiences, live coaching sessions, and access to a community of financial experts.

Employer Financial Wellbeing Programs: Collaborations with companies to integrate financial wellness programs into employee benefit packages, aiming to improve productivity and well-being.

Target Conditions

The initiatives primarily target financial literacy gaps, particularly among women, and aim to address the lack of accessible and impartial financial education.

Anticipated Milestones

Expansion of Educational Content: Continual development of new courses and resources to meet diverse financial education needs.

App Enhancements: Regular updates to the SmartPurse App to improve user experience and engagement.

Increased Corporate Partnerships: Growth in collaborations with employers to offer financial wellness programs to a wider workforce.

Technological Platform and Innovation

Proprietary Technologies

SmartPurse App: A mobile application offering interactive learning experiences, live coaching sessions, and access to a community of financial experts.

Significant Scientific Methods

Financial Education Modules: Over 80 lessons and resources designed to enhance financial literacy.

Live Coaching Sessions: Opportunities for users to engage with financial experts in real-time.

Community Forums: Platforms for users to connect, share experiences, and support each other's financial journeys.

Leadership Team

Jude Kelly

Position: Co-founder

Background: Founder of the Women of the World (WOW) Festival, a global movement celebrating women's achievements and addressing gender inequality.

Contributions: Leads the strategic direction of SmartPurse, focusing on community engagement and advocacy for financial education.

Olga Miler

Position: Co-founder

Background: Former Managing Director and Global Program Architect of UBS Wealth Management’s change program for women.

Contributions: Oversees the development of educational content and partnerships, leveraging her expertise in financial services and women's initiatives.

Competitor Profile

Market Insights and Dynamics

The financial education market is experiencing significant growth, driven by increasing awareness of financial literacy's importance and the need for accessible, impartial financial education. SmartPurse operates in a competitive landscape with several key players offering similar services.

Competitor Analysis

Ellevest: A digital investment platform tailored for women, offering personalized investment portfolios and financial planning tools.

LearnVest: Provides financial planning services and educational content aimed at helping individuals manage their finances effectively.

The Financial Gym: Offers personal training for financial health, including one-on-one coaching and group classes.

Strategic Collaborations and Partnerships

Kaspar&: Partnered to launch the Kaspar&SmartPurse card, enabling users to invest spare change automatically in sustainable and gender-smart portfolios.

Alpian: Collaborated to introduce the SheWealth Collective, aiming to empower women in Switzerland towards financial independence.

Operational Insights

SmartPurse differentiates itself through its focus on gender-inclusive financial education, offering a unique combination of educational content, personalized financial planning, and investment guidance. Their partnerships with financial institutions enhance their service offerings and expand their reach.

Strategic Opportunities and Future Directions

Strategic Roadmap

Expansion of Educational Content: Developing new courses and resources to address emerging financial topics and user needs.

Technological Enhancements: Improving the SmartPurse App to offer a more personalized and engaging user experience.

Global Expansion: Extending services to new markets, particularly focusing on regions with significant gender financial literacy gaps.

Future Business Directions

Corporate Partnerships: Increasing collaborations with employers to integrate financial wellness programs into employee benefit packages.

Community Engagement: Strengthening community forums and support networks to foster a sense of belonging and mutual support among users.

Opportunities for Expansion

By leveraging existing partnerships and expanding their educational offerings, SmartPurse is well-positioned to become a leading global platform for financial education and empowerment.