For the 3 billion financially underserved people globally — and particularly for low-income households and businesses — a lack of stable income, emergency savings, and health insurance makes them vulnerable to economic shocks. The Covid-19 pandemic has underscored the role financial services can play as a stabilizing force for these populations.
Amidst an immensely challenging operating environment, more than 400 fintech startups working to improve the accessibility, affordability, and convenience of financial services for underserved populations applied to Inclusive Fintech 50. The initiative identifies, assesses, and elevates the most promising early-stage inclusive fintechs in advanced and emerging markets through a competitive process led by an independent panel of 35 experienced fintech leaders and VCs including leaders from Plaid, Jumo, SOSV, and ADB Ventures. Inclusive Fintech 50 was founded by MetLife Foundation and Visa, with support from Accion and IFC, and additional funding from BlackRock and Jersey Overseas Aid & Comic Relief.
Using a scoring model that combines quantitative and qualitative assessments, the judging panel selected 50 high-potential startups based on four criteria: inclusiveness, innovation, scale potential, and traction. The cohort, featured in the gallery below, are upending the status quo through solutions tailored to the needs of underserved populations.