WInvest: Pioneering Financial Empowerment for Women Investing in her future one dollar at a time

In a world where financial literacy remains a significant hurdle for many, particularly women, the inception of WInvest, a London based financial education platform, marks a transformative step toward inclusivity and empowerment. Founded by Sophia Xinqi Lan who once faced financial victimhood herself, WInvest aims to change the narrative around women and their relationship with money.

Reflecting on her own journey, the founder shared, "I used to be a financial victim. About seven years ago, I had saved £5,000, and my ex-partner convinced me to hand over my savings, promising he'd triple it in the stock market. Instead, he lost everything in stock options. That experience was traumatising, and I couldn't bring myself to talk about it with my parents or friends for a long time." This painful experience sparked a passion for financial education.

During her master's studies at Imperial College, she discovered a new world of finance. "I studied finance and investment and realised how much simpler it was compared to high school physics or chemistry. From that moment, I was determined to restart my investment journey." However, she was struck by a troubling observation: "What surprised me most was that none of the women I studied with were investing. Even years after graduation, most of them still kept their money in current accounts, untouched by the power of compound interest."

This gap in financial engagement fueled her desire to make a difference. "Becoming a financial education coach and later founding London Gal Invest opened my eyes further and drove me to start WInvest," she explained. "I've helped hundreds of women on their financial journey, and seeing the hope and positivity they experience after using my services is incredible." Yet, she also recognised a significant barrier: many women simply couldn't afford coaching. "Financially vulnerable groups, like immigrants, gig economy workers, and young professionals, are often the ones who need this guidance the most—yet they can't afford it."

Determined to create a solution, she began asking, "Can I create something affordable, scalable but still personal and empowering?" That's when WInvest was born. "I believe WInvest will revolutionise how women interact with their finances," she said. "Historically, many women have felt stuck in their financial journeys. Our Money Bestie is here to change that—it helps women take real financial action."

The concept of Money Bestie, WInvest's flagship product, is a conversational artificial intelligence (AI) designed to assist women at various life stages. "We're the virtual assistant that optimises your money decisions. This is the future of finance—a future where finance becomes a language everyone can speak and interact with," she explained. Reflecting on her past, she mused, "If I had a Money Bestie converse with me about my savings seven years ago, I never would've handed my savings to my ex."

Looking ahead, she is driven by a personal mission. "I want my daughter to grow up financially empowered, able to follow her passions without worrying about money, knowing she's financially secure thanks to the education and tools she has access to."

However, the journey has not been without its challenges. Despite the UK's reputation for supporting female founders, she notes, "We're still significantly underfunded. We need more angel syndicates, government loan schemes, and diverse funding sources to provide aggressive capital support for early-stage startups." The necessity of capital cannot be overstated: "As a founder, you face different challenges at every stage, but you have to strategise and execute. That's the only way to test if what's in your head is right—and execution requires capital."

Fortunately, her perseverance paid off with a £280,000 grant from Innovate UK for fintech service innovation in 2023. "Without this grant, I wouldn't have been able to bring my vision to life," she admitted.

WInvest differentiates itself in a crowded marketplace by focusing on a unique user experience. "WInvest is the first women-focused conversational AI, built with insights from a beta user base that's 100% female," she noted. "While there are plenty of great B2C finance apps, they often miss the conversational, fun, and personalised approach that keeps women engaged and leads them to take real financial action."

Technology plays a crucial role in making financial literacy accessible, particularly for underrepresented groups. "Technology is going to transform financial literacy because it can now adapt to people's needs and language," she said. "For example, 10% of the UK population is dyslexic. With Money Bestie, they can have conversations that make them feel empowered without being overwhelmed by complex text." She believes that this adaptability is essential for making finance relatable and engaging, especially for immigrants who may lack familial financial guidance.

When asked about her advice for aspiring female entrepreneurs, she emphasised the importance of community. "I think meeting like-minded people from your industry is important. When I first started my fintech journey, I had absolutely no idea what I was doing. Then, I met a fintech CEO who became my mentor and really helped me on my journey—shoutout to Hardy Pemhiwa! His guidance was a game-changer for me." She likened her journey to cooking: "It's like cooking a great lasagna—you need to know the essential ingredients first. Once you have that, you can innovate and make it your own."

Looking to the future, she is particularly excited about the evolution of Open Finance. "One major trend is how Open Finance will continue to evolve—a world where you can automate every aspect of your finances effortlessly. That day is coming, and I want to be part of it," she said. "I envision a future where personal finance is transparent, automated, and fun, once the right regulations, technology, and timing align."

As WInvest continues to grow, its mission to empower women through financial education is set to reshape the financial landscape, making it more inclusive and accessible for all.