Women can change narratives - and they need money to do so

Women Can Change Narratives - and They Need Money To Do So

Women can change narratives - and they need money to do so

Women entrepreneurs notoriously get fewer investments or lending opportunities. According to Forbes, only 25% of female business-owners seek financing while what they end up getting is one-third less than what's approved for their male counterparts.

There are countless examples of successful women-led enterprises that skyrocketed into public attention after receiving loans and/or venture funding. Stories like these, unfortunately, are often overlooked in the sea of business breakthroughs dominated by men.

Emily Weiss of Glossier

This has been by far one of the most exciting cosmetics companies to come out of the unicorn boom of the last 5 years. Former glossy magazine editor Emily Weiss turned what once was only a beauty blog "Into the gloss" into a brand that re-wrote the old playbook - Glossier. Weiss heavily relied on the community feedback to develop products that talked to a specific type of consumer - millennial women - and catered to their preference of clean and minimal makeup regimen. The founder raised venture capital several times and eventually, the company joined the ranks of billion-dollar startups. Emily's keen attention to community-oriented CRM helped her create exceptionally marketed products.

Laura Katz of Helaina

Successful businesses often rely on specific points of view. Be it that 'aha' moment or a simple need. Laura Katz created a formula that helped make faux breast milk. While the food industry advanced in creating alternative meats and milk, the 29-year-old food science teacher at New York University found a way to use yeast and fermentation to replicate proteins infants consume in real human breast milk. Katz's been passionate about food since the age of 14 right when she participated in Food Network competitions. She saw the gap in the market and decided to take action. Laura had to raise venture funding so that her company Helaina could start the process of manufacturing and commercialization. Her goal now is to reach all parents who use formula to feed their children.

Dr. Nicola Nice of Pomp & Whimsy

The spirits industry is clearly dominated by male-oriented products while women are often ignored by brands. Dr. Nicola Nice used to work for giants like DIAGEO and Bacardi as a sociologist and brand strategist. Creating marketing strategies for these brands, Nice saw through systematic neglect to target women as potential consumers. The future entrepreneur found that frustrating as a spirits drinker so she spent a few years developing a product that she and many other women would enjoy. It turned out that it wasn't the brands ignoring the female customer base, but a simple fact of not being able to market well. Nice's extensive knowledge of the market helped her develop Pomp & Whimsy, a botanical gin liqueur. With the help from business partners and capital infusion, she was able to launch the brand.

Funding matters

These 3 women could have not made it with their brands if it weren't for investments that private entities made to support their vision. Most women entrepreneurs and their businesses aren't seriously considered for funding because of social expectations: starting families, baring children, maternal instincts over business priorities. This results in lower credit scores and a low approval rating that traditional institutions use to protect their profits. Or so they think they do.

Richie's customizable embedded lending infrastructure allows B2B companies to offer their partners, merchants, and other interested parties in obtaining a loan for faster growth. The design of our solution helps us avoid the human factor that is so present in interviewing processes at banks or other lending services. By connecting business owners with banks through a largely automated system, we eliminate the effect of social stigmas and create a fair environment.

#lendingsolutions #fintechstartup #funding #loans #innovation #diversityequityandinclusion #womenentrepreneur #womenbusiness

 

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