March 2022

Hi there,

This month’s newsletter...

Proliferation in the industry:

1. Green or Greed: Early-stage developments in green fintech 🤔 🌳

2. Firsts for Italy and Bulgaria: Scalapay & Payhawk reach unicorn status! 🇮🇹🦄🇧🇬

3. Upcoming report: Financial inclusion in the Latam six 🌎

Future-fit finance

Green or Greed: Early-stage developments in green fintech 

🌎 🌳 Since the COP26 UN Climate Change Conference in November stressed the importance of finance, sustainable development and technology in accelerating the transition to net zero there’s been a noticeable increase in attention to green fintech.

✅ 👏 4 key green fintech ecosystems and their local innovators

Work in progress 🤔

This month we’re taking a look at some of the (early) successes in green fintech. While the definition is still a bit woolly green fintech refers to financial technology that rejects the profit over planet principle of growth economics to incorporate environmental objectives into business strategy. 💸

The space is still in its infancy (three quarters of climate fintechs have raised less than US$10 million) but it is growing. As is the breadth of activity under the ‘green’ umbrella. Ranging from financial services to drive investment into emissions reduction and sustainable technologies at one end, to enablers such as emissions data and analytics and tools to help banks go paperless at the other. 

💬 As with many things in fintech the breadth of the definition is the problem and, when combined with global attention on the green agenda, opens the door for companies of all shades to wash themselves in a green light. 

With the industry still at an early stage it will be a while before we can pick out the net zero’s from the plus one’s… More data needed please!

Wishing you a productive and “green” rest of the week!

Simon Hardie

simon@findexable.com

Fintech Diversity Radar - 30% of firms led by women by 2030

The business case for serving women with better financial services. Financial Alliance for Women predicts that women have the potential to control more than USD 200 trillion in wealth globally. 

As part of the Fintech Diversity Radar last month we hosted the Diversity for Growth Roundtable with founders and banking leaders from Innovate Finance, Mambu, GPS, Chargebacks911, JP Morgan Chase, Women's World Banking, 100 Women in Finance and Anthemis among others. 

With the workshop centred on how to build an inclusive fintech ecosystem and how the Fintech Diversity Radar can enable it, delegates made a collective call to:

• Add more data to track a wider range of diversity metrics
• Give more exposure to diverse founders and talented women to change perceptions
• Target data that can be used for ‘market-building’ by investors
• Build collaboration with partners, including investors to enrich data that already exists
• Connect the impact of diversity to the business case
• Create channels and programmes to mentor women leaders. 

With International Women’s Day and the emphasis on women this month, it is no longer enough to talk about what needs doing. We all know that it is now about action. For private fintech firms to start reporting on diversity and inclusion before regulatory enforcement. For investors to take a stand on diversity in companies they invest in. And for investment in the tools to monitor progress.

Our plight is for a coalition to work together to make 2022 a turning point. Join our target for 30x30 - 30 percent of firms led by women by 2030.

Email Denise at denise@findexable.com for further details and how to get involved.

Findexable live at … The Family Alternative Investment Forum, 24 February

Fireside Chat: Crypto - How do HNW’s feel about digital assets?

At our crypto fireside chat at the Campden family office Alternative Investment Forum in London - one thing was on the mind of delegates: Impact. How can family offices support ESG goals? And what information should they look at to see the positive contribution their investments are making? 

At the moment, a little over a quarter of family offices invest in cryptocurrency with understanding of the space limited to specialist investors and passionate advocates. While there is interest, the crypto community has worked ahead to persuade family and HNW investors that the commercial case for investing comes with a positive social or environmental return.

Last month, we talked about fintech’s defining themes in 2022. Impact was one of them. Read about the other pillars dominating the industry here.

FinteCorn Update: Two Firsts! 🇮🇹 🇧🇬

Italy’s get its first fintech unicorn as Scalapay, a BNPL technology provider secures $497m Series B funding. 

Bulgaria ends the month on a high as the country gets its first ever unicorn as Payhawk secures an additional $100m investment led by Lightspeed Venture Partners. 

Check out the March issue of the FinteCorn tracker here for our updated list of global fintech unicorns.

Funding Opportunity… by CGAP … for Innovative Digital Finance for MSEs

Are you using or planning to introduce technology in innovative ways to advance access to responsible credit for micro and small enterprises (MSEs)? 

CGAP is seeking to partner with fintechs, traditional financial services providers and retail firms starting from this March. Interested? 

For further details and to apply, click here.

Partner Update: FinTech B2B Marketing Conference 2022

Want to know what’s happening in the world of fintech marketing and where it’s heading? Join the 2022 FinTech B2B Marketing Conference on 27 April. Virtual or in person. You can find further details and book your seat here.

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