Which former Dragon founded the gift-experience company Red Letter Days?

Rachel Elnaugh founded the gift-experience company Red Letter Days.

Red Letter Days sold experiences intended as gifts, including activities and special outings rather than conventional physical presents. Elnaugh built the company into a prominent British experience-gifting brand before becoming one of the original investors on Dragons' Den.

Her business background explains why she was selected for the programme's initial panel. She was also the first female investor to appear on the British show, making her significant both for her company and for the programme's history.

Red Letter Days is sometimes confused with Moonpig, another British gift-related business, or with companies later associated with Deborah Meaden and Sara Davies. The defining link is Elnaugh's founding role. The company later experienced financial difficulties, but that does not change who founded it.