Winners of Inclusive Fintech 50

Winners of Inclusive Fintech 50

by June 17, 2019

MetLife Foundation and Visa, with partners Accion and IFC, launch inaugural list to help fintech companies attract capital and resources to benefit the 3 billion financially underserved people globally.

MetLife Foundation and Visa with global nonprofit Accion and World Bank Group member IFC, announced the winners of the Inclusive Fintech 50, a competition launched in February to help early-stage fintech companies attract capital and resources to benefit the world’s 3 billion financially underserved people.

The 50 winners – which were selected from 400 eligible applicants – demonstrate the power of financial technology to expand access, usage, and quality of financial services in advanced and emerging markets.

Approximately 30 percent of the winners provide credit products to underserved segments including MSMEs, and approximately 25 percent offer infrastructure solutions like biometrics software that enable financial institutions to expand access to previously excluded groups. Fintechs offering insurance, payments & remittances services, and savings & personal financial management tools each made up approximately 15 percent of the winners.

Marianne Mwaniki

Marianne Mwaniki

“Existing research indicates that investment capital has largely overlooked early-stage and inclusive fintechs in several markets,”

said Marianne Mwaniki, Head of Social Impact at Visa.

“This group of winners makes clear that there are high-potential startups with viable products and business models – and they’re ready for investment.”

Nearly 70 percent of the winners are pre-Series A, yet these startups already exhibit strong product-market fit and traction, as demonstrated by their combined 8 million customers. In terms of geographic distribution, nearly one-third operate in more than one region, and another third operate exclusively in Sub-Saharan Africa. Twenty percent of the selected fintechs operate exclusively in South Asia, and 8 percent each in North America and East Asia & the Pacific. The remainder comes from Latin America & the Caribbean and MENA. A forthcoming white paper will provide insights into the applicants, winners, and lessons learned.

“Inclusive Fintech 50 demonstrates that there are lesser-known fintechs able to reach underserved populations with appropriate financial products,”

said Sarah Willis, Director of Financial Health & Inclusion at MetLife Foundation.

“We want to support startups that are addressing the holistic needs of these target segments with the ultimate goal of improving their financial health.”

The winners are listed below by operating regions. Full profiles can be found at

East Asia & the Pacific

AwanTunaiAwanTunai (credit)

FrolloFrollo (savings & personal financial management)

JuloJULO (credit)

TaniFundTaniFund (credit)

Latin America & the Caribbean


Celcoin (payments & remittances)

Middle East & North Africa


Dinarak (payments & remittances)


Dopay (payments & remittances)

North America

Distilled Identity

Distilled Identity (infrastructure)


Edquity (savings & personal financial management)


Resolve (savings & personal financial management)

Self Lender

Self Lender (savings & personal financial management)

South Asia


BASIX Sub-K (infrastructure)


CreditVidya (credit)


GramCover (insurance)


Happy (credit)

Jai Kisan

Jai Kisan (credit)


SmartCoin (credit)

Tez Financial Services

Tez Financial Services (savings & personal financial management)

Toffee Insurance

Toffee Insurance (insurance)

Sub-Saharan Africa

ACRE Africa

ACRE Africa (insurance)

awamo (infrastructure)

E-Settlement (infrastructure)

Hello Paisa (payments & remittances)

Inclusivity Solutions (insurance)


Kwara (infrastructure)

MaTontine (infrastructure)

Numida (infrastructure)

OZÉ (infrastructure)

PEG Africa (credit)

People’s Pension Trust (savings & personal financial management)

Pezesha (credit)


Pula (insurance)

Riby (infrastructure)

Tulaa (credit)

Multiple Regions

4Told Fintech

4Told Fintech (credit)

AID:Tech (payments & remittances)

Blockbonds (savings & personal financial management)

Click2Sure (insurance)

CreditEnable (credit)


Everest (infrastructure)

hiveonline (infrastructure)

Mosabi (credit)

Musoni Systems (infrastructure)

MyCash Online (payments & remittances)

Peppermint (payments & remittances)

Stonestep (insurance)

Teknospire (infrastructure)

Thunes (payments & remittances)


Inclusive Fintech 50 is implemented by MIX, the global data resource for socially responsible investors and businesses committed to financial inclusion.