The 2020 Inclusive Fintech 50 has now opened for applications and African startups can now apply.
In its second year, the initiative will identify a cohort of 50 high-potential, early-stage, and innovative fintech startups driving financial inclusion and resilience for the 3 billion financially underserved people worldwide.
Inclusive Fintech 50 creates visibility for the most promising inclusive fintech with a solution among credit, insurance, payments and remittances, savings and personal financial management, and infrastructure addressing challenges of underserved segments.
The initiative brings selected fintechs together with leading investors in the space and develops industry insights from aggregated and anonymized applicant data.
The selection takes place through a competitive process led by an independent judging panel of experts from venture capital, technology, and financial services firms.
The competitive process identifies startups poised for success through four criteria:
-Inclusiveness
-Innovation
-Scale potential
-Traction
Selected fintechs will benefit from -Increased visibility, with the opportunity to connect with peers and position themselves for investment through connections to investors.
Two of the selected fintechs will also receive cash prizes of USD 25,000 based on the judging panel’s assessment of their contributions to the financial resilience – or the ability to withstand and recover from shocks – of low-income households and micro-, small- and medium-enterprises (MSMEs).
Inclusive Fintech 50 was founded by MetLife Foundation and Visa Inc., with support from Accion and IFC, and additional funding from BlackRock and Jersey Overseas Aid & Comic Relief. The initiative is implemented by MIX, the global data resource for investors focused on inclusive finance.
Interested early-stage fintechs can apply between June 15 and July 10, 2020.
Applications will be accepted in English, Spanish, and French. The 2020 cohort will be announced in October. Visit www.inclusivefintech50.com for more information and to apply.
