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The MetLife Foundation and digital payments giant Visa have partnered to launch the Inclusive Fintech 50 competition which aims to recognise the world’s top 50 early-stage fintech startups that contribute to financial inclusion around the globe.
The competition — which is held in partnership with global non-profit Accion and World Bank global development institution IFC — will be implemented by MIX, the global data resource for socially responsible investors and businesses focused on inclusive finance.
Applications will close on 8 March, while winners will be selected in May and announced in June.
The Inclusive Fintech 50 competition aims to recognise the top 50 early-stage fintech startups that contribute to financial inclusion
In a statement on Monday (11 February), Visa global head of social impact Marianne Mwaniki said the initiative will help investors to identify “high-potential” companies.
This in turn, will help those companies attract the capital and knowledge they need to scale their businesses for “maximum social impact”, she said.
Startups will be assessed by a panel of more than 20 industry experts and investors on how inclusive their solutions are, business model innovation, scale potential and traction.