- Alternative credit scoring and risk assessment now seems to be the norm for fintech startups looking to expand access to financial services for billions of adults excluded from traditional banking systems.
- “Our initiative aims to identify and nurture fintech start-ups to generate innovative ideas which will help make financial products and services more accessible to this critical mass of Indians,” said JP Morgan’s Kalpana Morparia
- The initiative has now backed 20 companies with $100,000 each, provided tailored technical assistance and delivered access to a dedicated network of investors.
- Ugandan startup Tugende launched in 2013 to help motorcycle taxi, or “boda,” drivers finance the purchase of a motorcycle
- The Nairobi-based startup makes solar-powered irrigation pumps and systems, which it sells on credit to small scale farmers. Its products start at $390
ENGIE’s investment in HomeBiogas fits into a growing portfolio of small-scale clean energy companies that focus on emerging markets
- San Francisco-based RaiseMe aims to incentivize high school students' academic performance and keep them on a path to college by offering micro-scholarships for good grades and developmental extracurricular activities.