Rachel Elnaugh was born in 1964 in Essex, England, and grew up above her father’s electrical shop, which influenced her early interest in business.

She was educated at Chelmsford County High School for Girls and later worked for accountancy firm Arthur Andersen after being rejected by several universities.

In 1989, she founded Red Letter Days, one of the UK’s first experience gift companies. The business grew into a multi-million-pound brand and helped establish a new gifting market in the UK.

She became widely known as one of the original investors on Dragons’ Den (BBC Two), appearing in the first two series (2005–2006). She was the only female Dragon at the time.

After her business went into administration in 2005, she shifted focus to writing, public speaking, and mentoring. She lives in the UK and continues to work as a business coach and author while maintaining a relatively private family life.