Financial Innovations for Women Affected by Migration (FIWAM) is a Growth Program funded by the Impact-Linked Fund for Gender Inclusive Fintechs (ILF for GIF) and managed by the Impact-Linked Finance Fund. The goal is to provide Impact-Linked Finance and expert support for growth-stage fintechs interested in having a direct or indirect impact on financial inclusion for migrants, especially women migrants.
According to the recent report by Village Capital, “Catalyzing Financial Inclusion: Gender-Inclusive Fintech Solutions for Migrants,” globally, there’s an estimated 281 million international migrants and more than 55 million internally displaced persons. Many migrants choose or are forced to migrate due to economic challenges, conflict, and climate change, amongst other reasons. They are exposed to significant challenges and vulnerabilities at departure, during their migration journey as well as when they arrive at their destinations. One of the key obstacles they face is limited access to financial products tailored to their needs and particular situation. These challenges are even more evident with women migrants and women affected by migration, who also face cultural barriers, restricted mobility and higher illiteracy levels, in addition to existing barriers to financial access.
WORTH
- Capacity Building
- Mentorship
- Visibility
- Peer-to-peer network
- Access to demo day events
- Consideration for Funding
ELIGIBILITY
- Must be a for-profit entity with operations in a Sub-Saharan African, MENA, or Asia
- Provide a fintech solution.
- Must have at least one year of active operations and be ready for growth
- Woman-led companies are highly encouraged to apply!
DEADLINE: July 30, 2023
To apply and for more information, apply here.
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