The Center for Financial Inclusion (CFI) has recently announced the winners of the Inclusive Fintech 50 (IF50) competition’s 2021 cohort.
The winners are 50 fintech startups leading the world in supporting low-income customers, SMEs and MSMEs in rebuilding from the challenges caused by the COVID-19 pandemic.
Tia Hodges, President and CEO, MetLife Foundation, one of the sponsors of the event said:
“This exemplary group of IF50 winners demonstrates the impactful role that fintechs play in expanding access to innovative, affordable, and client-centric financial solutions. The shift from basic access and inclusion to a focus on creating sustainable financial health is key to building stronger communities for the long term.”
The pool of winners from the 2021 competition join winners from the 2020 edition to represent various ways in which fintech startups are supporting the underserved populace to improve their financial lives.
This year’s winners were selected from 377 applicants from over 70 countries, where Sub-saharan countries made a 44 percent representation.
The selected fintech startups which were evaluated based on traction, inclusivity, innovation and scale potential offer products ranging from fintech infrastructure, credit solutions and payments providers.
The winners will benefit from getting introduced to investors and access to Practical Business Skills.
The Inclusive Fintech 50 startup winners will get a pre-qualification for Visa Fintech Fast Track. The IF50 application process has shown how fintech startups adapted to provide recovery support for the COVID-19 pandemic.
The fintech startups have demonstrated confidence in using digital financial services.
One of the Sub-saharan fintechs who made the winners list, VPD Money is a no‑Limit Pan‑African digital financial service, unifying wallet, bank account, remittance, and AI‑powered savings experiences at cheaper or no cost for businesses and individuals.
The full profiles of the fintechs can be viewed here.
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