Seedstars, the global startup community and investment platform a new program to support fintech companies focused on promoting financial inclusion for women migrants.
Known as Financial Innovations for Women Affected by Migration (FIWAM), the program is targeting women affected by migration across Asia, MENA, and Sub-Saharan Africa.
Elizabeth Jones, Global Lead Program Operations of Seedstars said, “We’re thrilled to launch the Financial Innovations for Women Affected by Migration (FIWAM) Growth Program, as it has the potential to create a lasting impact on the lives of women migrants and women affected by migration. We’re eager to witness the transformative financial inclusion these innovative solutions will bring about in their communities.”
The program is funded by the Impact-Linked Fund for Gender Inclusive FinTech (ILF for GIF), managed by the Impact-Linked Finance Fund (ILFF) and supported by the Swiss Agency for Development and Cooperation, as well as the Austrian Development Agency, the operational unit of Austrian Development Cooperation. The ILF for GIF has partnered with Seedstars to foster improved access and utilization of financial products and services for women affected by migration.
Selected fintechs from Asia, MENA, and Sub-Saharan Africa will receive technical assistance to attain investment potential and scale their impact, targeting women migrants and women affected by migration. Each cohort of 10-15 fintechs per region will also receive direct support from experts in residence (EIR) and mentors drawn from their respective regions, over a period of three months.
To qualify, the startups must be a for-profit entities and have operations in the three regions. They must be providing a fintech solution that already serves or has the potential to serve women migrants or women affected by migration as well as have product market fit, be at growth stage, and generating monthly revenue of more than $10K USD. The startups must also be woman-led companies, as well as founders who are women migrants, are highly encouraged to apply.
Interested fintech startups can submit their applications before July 30, 2023. The applications can be done by visiting the FIWAM Growth Program website here.
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