Disruptive new fintech start-up Rainchq, has officially launched to the general public and is a new concept in financial services, designed exclusively for women. The company aims to tackle the gender investing gap by promoting greater financial inclusion.
All rainchq customers will receive access to financial education and events as well as an introduction to a qualified and regulated financial adviser, Amina Kamal, a senior partner at St James’s Place Wealth Management, a FTSE 100 company.
Unlike other financial services, rainchq will be positioned as a lifestyle brand, with a focus on good financial health as a foundation for overall holistic wellbeing. rainchq is also one of a handful of firms offering access to financial advice via video conference as the lead communication channel, compared to the traditional face-to-face offerings. This inclusive approach means the brand is for women across the country, and not just a London-centric proposition.
Founded by Davinia Tomlinson, whose previous career in marketing within the investment management industry for companies managing hundreds of millions of pounds of assets on behalf of clients, rainchq is designed to address the typically low proportion of female investors overall. More than a decade since the start of her working life and two children later, Davinia saw that the number of women investing for their futures hadn’t significantly improved and decided it was time to do something about it.
Davinia Tomlinson, CEO, and co-founder said: “My own personal experience has shown me that the financial services industry is not designed with women in mind, as the low numbers of female investors demonstrate. As a mother, like many, I returned to work part-time, which obviously had a knock-on effect on how I invested and yet there was no advice tailored to my situation. The goal of rainchq is to tackle the challenges specifically faced by women, most notably the gender investing gap, gender pay gap and financial advice gap – and to provide women with tailored guidance on what to do with their money as well as access to best-in-class investment products.”
The cost of the annual service is £300 which includes unlimited content accessed via the member’s hub, two financial advice sessions and one event invite (with a plus one) for a rainchq customer. Events will be held nationally to ensure rainchq reaches its clients in a location that best suits them, and gives them the opportunity to meet the people behind the brand and give their feedback on the service as well as benefit from guidance on all aspects of their holistic wellness delivered by a variety of expert speakers.