Milken-Motsepe Prize in Fintech Three Finalists Announced

The Milken Institute and the Motsepe Foundation have announced the three teams advancing to the final round of the Milken-Motsepe Prize in FinTech.

As the competition intensifies, these innovators are vying for the prestigious US$1 million Grand Prize. The Milken-Motsepe Prize in FinTech aims to recognize groundbreaking solutions that expand financial inclusion for small businesses in emerging and frontier markets.

Building on this goal, the prize supports the use of cutting-edge technologies to increase access to capital and financial services for underserved entrepreneurs worldwide. After a rigorous selection process, judges chose three finalist teams from a highly competitive pool of applicants. These teams will now move forward to the Milken Institute’s 2025 Global Conference in Los Angeles this May, where they will compete for the Grand Prize.

Milken-Motsepe Prize in FinTech Finalist Teams

Chumz, Kenya – Chumz is a gamified savings platform that uses behavioral psychology to make saving money engaging and cost-effective.

Oze, Ghana – Oze is a digital lending platform that bridges Africa’s credit gap by providing banks with an SME-focused app. This app digitizes financial data, enabling better risk assessment and improved lending opportunities for small businesses.

Verto, United Kingdom – Verto is a business-to-business cross-border payments platform designed for businesses in emerging markets. Its unified network eliminates intermediary fees, supports 49 currencies, and enables faster transaction settlements.

Emily Musil, Managing Director at the Milken Institute, emphasised the significance of the competition in fostering financial inclusion, saying “By supporting these pioneering teams, we aim to empower entrepreneurs who drive economic growth and opportunities in their communities. The Milken-Motsepe Prize in FinTech highlights the power of innovation to address financial challenges in emerging markets, and we are excited to see these finalists bring their groundbreaking solutions to life.”

Building on this mission, the Milken-Motsepe Prize in FinTech launched in May 2024 at the Milken Institute Global Conference to recognize innovative companies that best demonstrate the use of cutting-edge technologies to expand access to capital and financial services for small businesses in emerging and frontier markets. The Grand Prize winner will be selected based on the impact, scalability, and sustainability of their solutions.

In addition to the prestigious recognition, the competition offers $2 million in total prizes, including the $1 million Grand Prize. Moreover, beyond the financial award, finalist teams gain invaluable networking and pitching opportunities, helping them accelerate the implementation of their solutions in high-impact markets.

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