TLDR
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Lume Women + Health is redefining care for women in midlife, addressing needs often overlooked by the healthcare system.
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The founders are pushing back against outdated models that approach health with a “one-size-fits-all” mindset.
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As a women-led business, the founders faced systemic hurdles in funding – but found a supporter that became both funder and champion.
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RBC helped Lume secure financing, expand its network and bring women’s health into mainstream conversation.
When the founders of Lume Women + Health opened the doors to their 6,000 square foot women’s health clinic in Toronto, they weren’t just starting a business. They wanted to redefine how healthcare is delivered to women in Canada.
A vision for women’s health, built by women
According to Lume, women in midlife may face gaps in the health system, with their physical, mental and hormonal health needs overlooked. Gaps may include concerns related to perimenopause, menopause, as well as gender-specific concerns around cardiovascular health, metabolic function and brain health.
Lume’s mission is to close those gaps and change the narrative surrounding women’s health. By offering tailored, personalized care at a pivotal stage of life, the founders aim to provide women with the healthcare they deserve.
Breaking barriers in business and health
As a women-founded and women-led business, Lume faced obstacles on two fronts: outdated models of care and systemic barriers to entrepreneurship.
According to the 2024 State of Women’s Entrepreneurship in Canada report, only 18.4 per cent of businesses are majority-owned by women, and women founders receive just four per cent of venture capital funding. But Lume’s leadership team — which brings together decades of expertise in medicine, business and wellness — refused to let those statistics define their future.
Instead, they leaned into their conviction: Personalized solutions for women’s unique wellness needs aren’t a niche, but a necessity. After all, women spend 25% more of their lives in poor health compared to men, and are diagnosed later than men for more than 700 diseases. For the founders, the urgency was clear.
“One of the biggest hurdles has been this shift in mindset: Care for a woman is different than it is for her counterpart. We’ve been directly compared to something we are not,” says Christine Lacey, Director of Strategic Partnerships at Lume.
Turning vision into reality
For Lume’s founders, bringing their vision to life required more than medical expertise. It meant building a business model, attracting clients and finding the right partners to launch and scale. The team knew they needed support not just to fund the clinic, but to expand awareness, spark dialogue and ultimately normalize women’s health as part of mainstream care.
That’s where RBC came in.
How RBC supported Lume’s growth
There is a great deal of heart, work and determination that goes into starting a business — not to mention practical resources and support needed to get it off the ground. As an enduring champion for women entrepreneurs, RBC was a natural collaborator, helping Lume turn bold ideas into tangible impact.
The collaboration across four key areas:
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Access to credit
Lume approached RBC with a business plan and brand already in place. The commercial banking team moved quickly to provide financing, enabling the clinic to open its doors. For the founders, the speed and transparency of the process stood out.
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Creating connections
As Lume continued to grow, RBC introduced them to key contacts across the enterprise. From HR leaders to thought leadership teams, the bank introduced Lume to a network of decision-makers who could amplify their reach.
“They enveloped us within the network, taking us under their wing — both as a business and as people. The alignment was there right away,” says Lindsay Stollery Jephcott, Cofounder and Chief Investment Officer.
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Access to advice and expertise
While the Lume team brought deep experience in their respective fields, launching a new kind of women’s health service came with unfamiliar territory. RBC provided resources, expertise and mentorship to help the team navigate the unknown.
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Championing success
RBC also helped bring Lume’s voice into larger conversations about women’s health. From co-developing educational sessions for RBC employees to spotlighting Lume’s leadership, the bank amplified their message across clients, employees and communities.
Changing the narrative together
The impact of this collaboration has been felt across many fronts. RBC became Lume’s first corporate client, hosting internal events where practitioners educated employees and encouraged open discussion about women’s health.
Such early engagement can create a powerful ripple effect. A 2023 McKinsey report found that for every $1 invested in women’s health, there is a $3 return — benefiting not only individuals, but also entire communities. Lume and RBC are helping to prove that principle.
This collaboration also connects to RBC’s broader commitment to supporting women-led businesses through initiatives such as The Honest Talk podcast and the RBC Canadian Women Entrepreneur Awards. Lume is part of that ecosystem: a business redefining healthcare and demonstrating the importance of health, innovation and values-driven growth.
A collaboration built to challenge conventions
From the clinic to the boardroom, Lume’s story shows what can happen when vision meets the right support. By combining entrepreneurial courage with the resources of a financial collaborator willing to support bold ideas, they are reshaping the narrative around women’s health and women in business.
Together, Lume and RBC show how working together can drive meaningful change, proving that when barriers are challenged, new possibilities for health, business and community can emerge.
This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.
