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EmergeVest, the Hong Kong-based growth-oriented private equity investment group, has invested in Lucy, the world’s first neobank focused on women entrepreneurs, through seed funding. In addition, Dr. Jessica Bruser of EmergeVest has joined Lucy’s board of directors.
Lucy will use the proceeds of this funding round to invest in its tech platform, expand its Singapore-based team and prepare for an imminent launch of its inaugural product, before expanding regionally through strategic partnerships.
Diversity and inclusion are a fundamental part of the culture and long-term strategy at EmergeVest. This investment, which allows Lucy to further support female entrepreneurs, is aligned with EmergeVest’s goals and values.
Jessica Bruser, Director of EmergeVest, says, “We are delighted to partner with Debbie and the Lucy team on their journey to provide financial services and opportunities for women entrepreneurs. EmergeVest is passionate about making a positive impact through our investments and we are excited to be a part of Lucy’s story.”
“We immediately connected with Jessica and the EmergeVest team and are pleased that they share our vision for supporting women entrepreneurs,” says Debbie Watkins, Founder and CEO of Lucy. “We are looking forward to Jessica joining our board and helping us to expand Lucy across Asia and worldwide.”
Previously, Lucy secured funding in an all-women pre-seed funding round in September 2020. Initial founder funding came from Debbie Watkins (ex MD of Fern Software APMEA), Hal Bosher (ex CEO of Yoma Bank, and Chairman of Wave Money), Luke Janssen (ex-CEO and Chairman of Tigerspike), as well as the Savearth fund.