Promoting Financial Inclusion

The global movement of people has increased dramatically in the last decade. The growth of cities and urbanization have led to the creation of new economic opportunities for migrants and refugees. However, this population group often faces difficulties accessing financial services due to language barriers and lack of understanding about local banking systems. Financial inclusion is critical for migrants as it helps them manage their finances appropriately, plan their savings effectively, access credit when needed and build a better future for themselves and their families.

What is the SeedStars-led Fintech Growth program?

The Seedstars-led Fintech Growth program is funded by the Impact-Linked Fund for Gender Inclusive Fintechs (ILF for GIF) and managed by the Impact-Linked Finance Fund. The goal is to provide Impact-Linked Finance and expert support for growth-stage fintechs interested in having a direct or indirect impact on financial inclusion for migrants, and especially women migrants.

The Seedstars World in coordination with ILF for GIF developed a new growth programme to help high potential fintechs have an impact on financial inclusion of migrants and refugees. Up to 15 startups from each of Asia, MENA, Sub Saharan Africa will be selected to receive 3 months of hands-on support for: Enhancing their company’s growth through experimentation methodology and key growth concepts

How will Fintech Growth help women affected by migration?

The Fintech Growth program will help women affected by migration to access financial services and improve their financial situation. It aims to:

  • Enable them to save money,
  • Help them manage their finances better, and
  • Improve their overall financial health.

What are the application criteria?

The program is open to all for-profit entities with operations in a Sub-Saharan African, MENA or Asia region.

To apply, your company must have at least one year of active operations and be ready for growth. They are looking for fintech solutions that address unmet needs of financial inclusion and gender equality for women affected by migration. In addition to providing an innovative solution, applicants should also demonstrate how their product will impact the lives of women affected by migration across these three regions: Sub-Saharan Africa (SSA), MENA and Asia Pacific (APAC).

Women-led companies are highly encouraged to apply!

Conclusion

If you are interested in applying for the Fintech Growth program, please follow this link: https://www.seedstars.com/community/entrepreneurs/programs/fiwam/

Categorized in:

Opportunities

Tagged in:

,