Rukayyat Kolawole: The Fintech Maverick Disrupting the Status Quo, One Investment at a Time

At the intersection of wealth management and social impact, at a point where cultures and financial markets converge, stands Rukayyat Kolawole. As the CEO and founder of PaceUP Invest, she is at the forefront of a movement that seeks to democratise wealth-building and financial literacy across diverse geographies and populations. Operating out of Germany, France, and Nigeria, Rukayyat and her team are challenging traditional narratives of wealth and introducing a sustainable vision for the future that can be passed down generations.

Rukayyat is deeply steeped in the powerfully pro-woman ethos of Yorùbá culture from her native Nigeria – it has helped her thrive in the cut-throat world of international finance. This unique blend of her upbringing and professional experience finds its full expression in her work. Through PaceUP Invest, she champions a model of wealth-building that draws from the wisdom of her grandmother, a self-made entrepreneur, while resonating with the realities of the digital age.

Seeing her friends face the devastating consequences of job losses was the catalyst for Rukkayat’s dedication to financial literacy and investing. “Finance has traditionally been a male-dominated realm, leaving women and underrepresented groups in the dark. The reality hit me hard when I saw my friend and countless others blindsided by job losses and relying on their partners for financial security.” When she moved to Germany, Rukayyat realised that the gender gap in wealth intersected with racial disparities – and worse, this intersection was overlooked in existing data.

The path was forged: “Fuelled by my own experiences and driven by compassion, I founded PaceUP Invest within three years of arriving in Germany.”

Rukayyat’s dedication to uplifting women in finance is contagious. She is quick to point out how disproportionately difficult this is for women: “The gender gap in financial literacy is often underestimated,” she says, “and the statistics highlight the urgent need for change.”

The statistics she shares with me are dire: 61% of women would rather discuss their own death than talk about money. 60% of women who don’t invest cite lack of knowledge as their reasoning, and 34% cite lack of confidence. And it is clear that women want to invest: 41% of women regret not investing more.

The icing on this patriarchal cake? Rukayyat says the data show that, “despite investing less, women are actually better at it."

At the heart of this desire to empower women is Rukayyat’s upbringing. "My culture is Yorùbá," she states emphatically. "There's an inherent power in being a Yorùbá woman that has persisted over time, and it forms a significant part of my identity." This observation is borne out by a University of California study, which highlights the long-standing tradition of female power in Yorùbáland, present-day Southwest Nigeria and Southeast Republic of Benin. The study cites the goddess Ajé, a deity of the marketplace, as a powerful symbol of women's influence in economic, domestic, religious, and political spheres.

Rukayyat reflects, "Yorùbá women have harnessed this power to their advantage over time. And it was this sense of empowerment that drew me into investment banking." Her passion was ignited by the stories of her grandmother, a gold trader who traveled between Ghana and Nigeria, creating wealth and teaching the women in her community the basics of financial independence. "My grandmother showed me the power of communities and the importance of women's empowerment through wealth-building," Rukayyat recalls. "For her, real wealth was about freedom."

This culturally-rich legacy has had a profound influence on Rukayyat's approach to wealth management, shaping the philosophy that underpins her work at PaceUP Invest. For Rukayyat, building PaceUP Invest has been more than establishing a business. "It's about witnessing the impact of our services, seeing clients grow financially," she reflects. "The real value lies not just in wealth accumulation, but in the opportunities and security that wealth-building offers."

Wealth-building, according to Rukayyat, implies breaking free from financial limitation. "We're talking about creating a legacy, providing a foundation for future success.”

She highlights the emotional and psychological significance that financial stability can bring, such as the peace of mind from knowing one's financial future is secure, and the confidence that comes from being in control of one's destiny. Her experience at PaceUP Invest has given her the privilege of witnessing transformative financial journeys. "Watching clients overcome their fears and dive into investing, seeing their money grow and compound - there's a thrill in it," she says. "The transformative effect it has on their mindset, their relationships, their overall well-being, it's evident."

Rukayyat is fighting for a world in which minorities don’t have to face the barriers she herself did: “With my experience in the financial industry, I have witnessed firsthand the systemic barriers and inequalities that women and other underrepresented groups face when it comes to managing their finances.” This is why PaceUP Invest provides education, personalised advice, tailored solutions, and community for these underserved groups. “It's about demystifying the complex world of finance and breaking it down into relatable and actionable steps.”

But education is not enough, she makes sure to point out. As an advocate for diversity and inclusion in finance, she actively creates opportunities for representation, whether it is through mentorship, networking initiatives, and more. “Seeing relatable role models who have achieved financial independence and success can be incredibly empowering and motivational,” she notes.

Mentorship and uplifting others are consistent themes in Rukayyat’s expansive career. She serves on the board of Kassavex, a social impact agricultural company, and contributes to the advancement of women in finance as a founding committee board member of 100 Women in Finance Germany. She is also guiding the next generation of innovators through her roles at &ahead and The Migrant Accelerator in Germany.

Rukayyat's credentials speak volumes about her expertise: An MSc in Finance and Investment Management with Distinction from BPP Business School in the UK, and a double Diploma Executive MBA from Mannheim Business School, Germany, and ESSEC Business School, France. Yet, her influence is more than the sum of her titles and degrees; she is a Chartered Financial Analyst with a deep, personal understanding of her mission.

And Rukayyat's investment in future generations is something she practises in all aspects of her life. She is the author of Magical Baby, a book penned for her daughter to see girls like herself reflected in literature. "Representation helps individuals develop self-esteem, confidence, and belief in their capabilities," she elaborates. "When we see people who resemble us achieving financial success, we too can envision ourselves on a similar path."

It is poetic that Rukayyat herself is the living embodiment of that principle – not just providing representation through her book, but representing empowerment through her journey, her career – of being who she is in this world.

Rukayyat also credits representation with challenging the damaging myth that financial success is reserved for the privileged few. "Representation dismantles the false narrative that certain communities are predestined for financial struggle," she says. "Whether it's in a book or on a balance sheet, it's about helping people see what they can achieve, no matter their background."

To keep her and PaceUP invest at the forefront of the finance industry, Rukayyat draws upon a blend of continuous learning, research, and active industry engagement. "In this field," she notes, "you must stay informed and adaptable."

Her strategy for maintaining relevance is two-fold. Firstly, she prioritises her own professional development, continually expanding her knowledge through courses, workshops, and conferences, as well as a rigorous reading regimen of scholarly articles and industry publications. Secondly, leveraging technology to analyze market trends, consumer behavior, and investment patterns, Rukayyat then collaborates with her team to incorporate these insights into their wealth management solutions and educational resources.

"It's a meticulous evaluation process," she states, "but it ensures that our clients receive the most relevant and effective support."

Guided by a vision of a future where financial empowerment is universally accessible, PaceUP Invest has its sights set on audacious goals. "We're in the midst of fundraising to expand our horizons," Rukayyat says, her determination clear. She dreams of PaceUP Invest blossoming into a global go-to for wealth management and financial literacy, serving as a catalyst for millions to seize control of their financial destinies.

Embracing innovation is central to her strategy. Rukayyat plans to use artificial intelligence and machine learning to tailor financial advice to individuals, taking their unique circumstances into account. "The power of technology can unlock personalised, potent ways to empower our clients.”.

She also aims to forge partnerships with other organizations and experts who share her goal of universal financial empowerment. "Collaborations don't just amplify our reach; they infuse our work with fresh perspectives," she states. Under Rukayyat's guidance, PaceUP Invest is ramping up its targeted programs, mentorship initiatives, and resources designed to address the wealth gap head-on.

Yet, amidst this ambition, education remains central. Rukayyat is unwavering in her commitment to enhancing the educational resources provided by PaceUP Invest. "Knowledge is power. The more we equip individuals with financial knowledge, the more empowered they become.”

Rukayyat's aspirations for PaceUP Invest are clear – a world where financial empowerment is a right, not a privilege. And through innovation, collaboration, and relentless pursuit of this mission, she's confident that PaceUP Invest will be instrumental in forging a more equitable and inclusive financial landscape.

Her passion is contagious and her words stay with me long after we speak: “Empowering women and underrepresented groups to manage their finances independently goes beyond just numbers and figures. It's about breaking free from the constraints imposed by a patriarchal system and reclaiming their autonomy. It's about instilling a sense of empowerment, confidence, and self-determination that ripples through every aspect of their lives. By providing the tools, resources, and support needed, I aim to trigger a profound shift in the lives of individuals who have historically been overlooked and underestimated. Together, we can create a future where financial independence is not a privilege but a fundamental right for all.”

This is Rukayyat Kolawole: financial maven, transcultural leader, mentor, mother, and an influential figure transforming the landscape of wealth management and financial literacy. It's clear that she is not merely in the business of wealth creation; she is in the business of legacy-building.

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Photos courtesy of: Rukayyat Kolawole