NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

We are excited to announce that the application period for the 2020 Inclusive Fintech 50 opens on June 15. The initiative elevates promising early-stage fintechs driving financial inclusion and resilience around the globe through a competitive process led by an independent panel of judges from venture capital, technology, and financial services.

This year, in addition to providing an opportunity for selected fintechs to pitch their innovations in front of leading investors, the panelwill select two startups to receive cash prizes of USD 25,000 based on an assessment of their contributions to the financial resilience of low-income households and MSMEs. Who should apply? Find out here.

In light of COVID-19, efforts to bring together promising inclusive fintechs and investors for the benefit of the 3 billion financially underserved people globally are more important than ever:

• Low-income households and MSMEs need access to financial products and services that can help them withstand income volatility, build and replenish emergency savings, access quality health insurance, and plan for and afford basic necessities.

• Early-stage fintechs can dramatically enhance inclusion and resilience through innovation.  But they need access to capital and knowledge resources to adapt to new customer needs, evolve business operations, and position themselves for growth.

In 2019, we received eligible applications from 400 early-stage fintechs headquartered in 72 countries and with a combined customer base of 69.8 million. The fintechs selected as part of the 2019 Inclusive Fintech 50 cohort received significant visibility including several speaking engagements in front of investors, wide media coverage, and introductions to prospective partners.

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