10 later stage fintechs pioneering modern monetary options for the low-income girls’s market introduced as semifinalists; first-ever Feminine Founder’s Circle members named
November 2, 2022 – On the Singapore FinTech Competition right now, Ladies’s World Banking introduced the ten semifinalists for the 2023 Fintech Innovation Problem, a worldwide competitors to spotlight and advance options to shut the gender hole via digital monetary providers. Now in its fourth 12 months and the one women-centered competitors for later stage fintechs, the Problem will present a platform for these firms to proceed working to deal with the persistent challenges in serving the low-income girls’s market.
The ten Fintech Innovation Problem semifinalists had been chosen from a pool of 98 extremely certified candidates throughout 34 international locations. Candidates had been judged based mostly on rigorous standards by an knowledgeable Advisory Committee that evaluated a number of components, together with product innovation, gender inclusivity, monetary viability, scale potential and group expertise and variety.
- 50% of semifinalist options concentrate on credit score for women-led MSMEs, 40% concentrate on sending and receiving cash, and 10% concentrate on past cash options
- 7 international locations are represented
- 7 are based or co-founded by a girl entrepreneur
As well as, of the ten semifinalists, 7 female-founded fintechs be a part of Ladies’s World Banking’s first-ever Feminine Founder’s Circle. This unique community of like-minded female-founders can be promoted via a strong built-in communications, advertising and marketing and media marketing campaign.
“I’m thrilled to see such extremely certified candidates advance as semifinalists of our 2023 Fintech Innovation Problem and to announce the members in our first-ever Feminine Founder’s Circle,” Mary Ellen Iskenderian, President and CEO of Ladies’s World Banking. “All 10 semifinalists, together with these within the Feminine Founder’s Circle, are growing modern options and merchandise to effectively meet the wants of low-income girls in ways in which conventional monetary providers suppliers can’t or received’t. I’m excited to see their continued participation in our competitors.”
The 4 finalists can be introduced on January 9, 2023. Finalists within the Problem will take part in an in-person pitch competitors at Ladies’s World Banking’s bi-annual International Summit happening in 2023, and be fast-tracked for participation within the Ladies’s Financial Empowerment Accelerator, powered by the Miller Middle for Social Entrepreneurship at Santa Clara College. They will even obtain pitch recommendation and a UX design session. The Grand Prize winner will obtain entry to key 2023 fintech occasions like Level Zero Discussion board, Elevandi Connects, and the Singapore FinTech Competition, in addition to a speaker invitation at a Ladies’s World Banking Making Finance Work for Ladies occasion.
See the total record of the 2023 Fintech Innovation Problem semifinalists under:
- ARTH – Feminine Founder Circle Participant
- Awaaz.De Infosystems – Feminine Founder Circle Participant
- DotX Applied sciences
- GajiGesa – Feminine Founder Circle Participant
- HAMWE East Africa – Feminine Founder Circle Participant
- IndiaP2P – Feminine Founder Circle Participant
- MeraBills – Feminine Founder Circle Participant
- MoneyMart Finance – Feminine Founder Circle Participant
The Fintech Innovation Problem is sponsored by the Invoice & Melinda Gates Basis (Main Sponsor) and Ernst & Younger LLP (EY US and Advancing Sponsor). Ladies’s World Banking’s core funders are Australia’s Division of Overseas Affairs and Commerce (DFAT), the Swedish Worldwide Growth Cooperation Company (SIDA), and Visa Basis. In-kind prizes are supplied by Elevandi and Miller Middle for Social Entrepreneurship at Santa Clara College.
About Ladies’s World Banking
Ladies’s World Banking designs and invests in monetary options, establishments, and coverage environments in rising markets to create higher financial stability and prosperity for ladies, their households, and their communities. With a International Community attain of 61 monetary providers suppliers in 34 international locations serving greater than 136 million girls shoppers, Ladies’s World Banking drives influence via its scalable, market-driven options; gender lens non-public fairness fund; and management and variety packages. To be taught extra go to womensworldbanking.org.