LearnVest, a personal finance site for women, has raised $4.5 million in a first round of funding. LearnVest’s pitch: Women control 80 percent of all consumer spending in the U.S. — so it makes sense to have a site that caters to them. Content includes a daily e-mail with “hip lifestyle tips for living on a budget,” guides to a series of financial “basics,” as well as financial action plans and budgeting tools.
The NYT has a profile of the startup, which explains that LearnVest’s 26-year-old founder decided there was a need for the site when she was offered a hedge fund job at Morgan Stanley — but didn’t feel comfortable managing her own money.
That’s a good story but it will be worth watching whether LearnVest can catch on considering there are other personal finance resources online, including some that cater to beginners — both male and female.
The funding round was led by Accel Partners. Here’s the release, which has more details.