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Did you know that less than 1% of women in Latin America have a savings account in their name?
It is no surprise that financial inclusion is a challenge for a large portion of the population in Latin America, and unfortunately this challenge directly affects the female population when it comes to financial literacy.
Enter Pilou.
Pilou’s vision, a revolutionary new platform designed to bridge the financial knowledge gap for women across Latin America, is to close the gender gap in finance and create a more equitable future for all women, specifically those in Latin America.
“Pilou is the 1st online investment platform led by Women, for Women in Latin America.” - Patricia Florencia ( Co-Founder Pilou)
Time to Take Action
The origin story of Pilou traces back to Patricia and Andrea's, Pilou's founders, experience in private banking, where the scarcity of women, both in management and as clients, was strikingly evident. Upon managing investment accounts for some of Mexico's wealthiest individuals, they noticed a glaring gender disparity:
"Very few accounts were held by women, and among these, most were disengaged from managing their finances, typically deferring to their male counterparts..." Patricia Florencia
Additionally, Patricia and Andrea received frequent requests from friends, family, and acquaintances seeking advice on how to begin investing revealing a broader issue of financial illiteracy and disengagement from saving and investing, especially among women in Latin America.
Recognizing the opportunity, Andrea and Patricia took action and launched Pilou.
A Tailored Approach to Wealth Management
Pilou makes savings and investing easy and clear for women in Mexico and the USA. Patricia explained to VC Mexico, “We offer simple, affordable portfolios designed for different goals and risk levels. But we're more than just money managers. We prioritize financial education, building your confidence and knowledge. Our mission is bigger than profits: we're creating a fairer financial world where all women can build a brighter future, together.”
The time is Now
Patricia highlighted the critical gender disparity she encountered in her banking career, noting that out of 100 clients, fewer than 15 were women. This stark imbalance underscores the urgent need for a platform tailored to women, developed by those who fully grasp the unique challenges women face in finance.
“Only 0.8% of women in Latin America have an investment account. Financial inclusion and education for women in Latin America's main markets is lacking, which represents a huge opportunity for an underserved market."
Founders
Bridging the Gender Gap in Financial Literacy
The driving force behind Pilou stems from a profound recognition of the financial exclusion faced by women in Latin America. This gap is due to:
- Limited time and financial market knowledge: Women often juggle demanding responsibilities, leaving little room for in-depth financial exploration.
- Lack of confidence: Societal conditioning and ingrained stereotypes can erode women's confidence in navigating investments. A lack of financial education can make women feel insecure, mistrustful, or afraid of making mistakes.
- Inadequate financial products: Traditional financial services often fail to cater to the specific needs of women, who usually feel intimidated by the perceived complexity of financial markets.
