Which Dragons' Den investor was the founder of the online retailer Red Letter Days?

Rachel Elnaugh was the founder of the online retailer Red Letter Days.

Elnaugh established Red Letter Days in 1989. The company sold vouchers for experience gifts, such as driving, leisure and entertainment activities, rather than conventional physical presents. Its model helped make experience-based gifting more visible in the British retail market.

Elnaugh became one of the original Dragons when the BBC launched the UK version of Dragons' Den in 2005. Her business background made her especially associated with consumer services and gift experiences during the show's early years.

Red Letter Days later experienced financial difficulties and entered administration in 2005. The business was subsequently acquired by fellow Dragon Peter Jones, who revived the brand. This history is why the founder and later owner are both linked with Red Letter Days, but the founder was Elnaugh.