CFI launches competition for fintech start-ups

The Centre for Financial Inclusion (CFI) announced the launch of the fourth annual Inclusive Fintech 50 (IF50) Competition, a global initiative that competitively selects 50 early-stage, inclusive fintechs with innovative business models that aim to advance financial inclusion.

Bangladeshi start-ups can also participate in this competition. An independent panel of expert judges will select 50 early-stage fintech start-ups leveraging data and digital technology to advance financial inclusion, reads a statement.

The theme of the 2022 IF50 competition is ‘Making Digitalization Count’. Rapid advances in the digital economy, further accelerated by COVID-19, are changing the financial services landscape and creating opportunities to drive further inclusion and impact for underserved populations.

Early-stage, inclusive fintechs are leading the way by leveraging data and digital infrastructure to deliver valuable products and services to low-income consumers, especially women.

Even with increasing attention to the promise of inclusive fintech, many early-stage fintech companies struggle to secure funding to help them grow. IF50 aims to address this gap by identifying the 50 most promising inclusive fintechs and providing them with visibility to attract investors and other support.

IF50 is sponsored by Visa, MetLife Foundation, and Jersey Overseas Aid & Comic Relief, with support from Accion and IFC, and implemented by CFI.