On Deck Week 4: The Buying Power of Women is Huge. The Investing Power of Women is Untapped.
I joined the On Deck Founder Fellowship to build a business and democratize private investing. As I enter my fourth week of the program, I want to share a bit about what I have been doing, what I have learned and what I intend to do over the next few weeks.
What I have been doing?
A few weeks ago, I started a business called Tardi — a marketplace for retail investors to gain exposure to private businesses (read more here). I started the business because I believe all investors, regardless of their net worth, should be able to invest in the next billion dollar idea and businesses should have alternative ways to raise capital even if they don’t have access to friends/family and venture money. While I had an idea, I needed to start by talking to people about it. I spoke to countless founders in my fellowship, conducted consumer research, and collected feedback on my initial idea. My ultimate findings were clear: people want access to private businesses, founders are interested in crowdfunding, and I need to figure out how Tardi is different from existing equity crowdfunding platforms.
How is Tardi Different?
As I started to think about how Tardi could be different, I went back to my initial consumer research. During that time, I spoke with both men and women about investing. Men often spoke about managing their personal finances from a young age, having a network of friends to speak with about investing and dabbling in alternative investing whether it was through real estate or angel checks. However, when I spoke to women, their experience was often quite different. Many women shared they were uncomfortable talking to friends about investing, weren’t sure how to get started, and the ever haunting “I take my boyfriend’s investment advice.” And this is when I realized, Tardi will replace the boyfriend and become a safe place for both men and women to invest and chat about their investments.
How do we replace the boyfriend?
Tardi is going to be a community driven model where individuals can follow friends, colleagues, and financial professionals as they invest in private businesses. While we are not a platform for only female investors, we are building with women in mind first and working to flip more women from consumers to investors. We are also working to replicate the sense of community that many men already have in regards to investing.
Why women matter and how do we get more women investing?
While I want to get more women investing, I think its important not to ignore why this is so important.
- Women direct 83% of all consumption in the United States.
- Women-owned firms (50% or more) account for 40% of all privately held firms, yet.
- In 2020, women garnered 2.5% of the total capital invested in venture-backed startups in the US.
- Based on a recent study, 84% of women feel misunderstood by investment marketers.
What this data tells us is that the buying power of women is huge but the investing power is untapped. Most financial platforms are built with men in mind first which is why we are not closing financial gaps. Through Tardi, we aim to get more women investing, get more money into the pockets of diverse founders, and create one of the first fin tech platforms with women in mind first.
What’s Next?
Over the next few weeks, I plan to build out the Tardi MVP and continue conducting consumer research. If you are business interested in equity crowdfunding or investor looking to get into angel investing, please don’t hesitate to reach out to me! I am also growing a community that is a safe space for women to talk about finances. I host a weekly Clubhouse room called “Not Your Boyfriend’s Investment Advice” on Tuesdays at 9:30am PST, so please join me if you’re interested in learning more. Till next week!
