Emerging fintechs for financial inclusion

Frequently Asked Questions

What is the Inclusive Fintech 50 competition?

Inclusive Fintech 50 is a competition to showcase early-stage fintechs driving financial inclusion in countries around the world.  50 winners will be selected from a pool of applicants based on a number of established criteria, which you can find here.

 

Who is behind Inclusive Fintech 50?

MIX, the leading global resource for inclusive finance, is the sponsor of the Inclusive Fintech 50 competition. The Inclusive Fintech 50 is funded by MetLife Foundation and Visa, with support from Accion and the International Finance Corporation (IFC). 

 

Why was Inclusive Fintech 50 created?

Inclusive Fintech 50 was created to help make select early-stage fintechs more visible to investors and others who can help them scale.

 

When is Inclusive Fintech 50?

The application period begins on February 11, 2019 and ends on March 22, 2019, unless 200 submissions are received by March 8, 2019 in which case the application period will close on March 8, 2019.  Fintech companies are encouraged to apply early.

 

Who selects the winners?

A panel of industry leading experts – including investors, fintech founders, and financial institution leaders – will assess the applicants and select the final winners. You can view the list of judges.

How are winners selected?

You can read more about the selection criteria. A total of 50 fintechs will be selected as winners from the highest-scoring applications across credit, insurance, payments & remittances, savings & personal financial management, and infrastructure.

How do I apply?

To be considered for Inclusive Fintech 50 you must meet the eligibility criteria outlined below and submit a complete application, which can be found here.

 

What will winners receive?

Winners will be listed as the Inclusive Fintech 50 and will also receive publicity through media partnerships, digital activations, a white paper, and publicity at a global fintech event in mid-2019.  Learn more here.

 

What if I still have questions after reading the FAQs?

Please see the Official Rules or email info@inclusivefintech50.com.

 

ENTRY & ELIGIBILITY

Does the application take a long time to complete?

The application can be completed in around 40 minutes.

Who is eligible?

All early-stage fintech companies that have raised less than USD$25 million. The fintech can be B2C (business-to-consumer), B2B (business-to-business) or B2B2C (business to business to consumer) and must have at least one product and one user. Companies applying for Inclusive Fintech 50 must have a solution in credit, insurance, payments & remittances, savings & personal financial management, or infrastructure addressing challenges of underserved segments. Companies must be legally registered in their country of operation and not subject to US sanctions programs administered by OFAC.

The individual applying for the Inclusive Fintech 50 must also meet the applicant eligibility criteria and the submission eligibility criteria set forth in the Official Rules, which can be found here.

Can we apply if we’re a for-profit business?

Yes. All early-stage fintech companies with target markets that include underserved population segments can apply.

 

Should I submit my application in English?

Yes. Only applications submitted in English in their entirety will be reviewed.

 

Can my company submit more than one application?

No. Each company can submit only one application. If more than one application is submitted for a single company, we will review only the first submitted.

 

Can I submit an application on behalf of a company that I don’t work directly for?

No. Applicants must be a representative of the company they are submitting to Inclusive Fintech 50 and must have the legal authority to bind the fintech on whose behalf they submit an application to the terms and conditions set forth in the Official Rules.

 

Does my company need to be registered as a legal entity?

Yes.

 

CONFIDENTIALITY AND INTELLECTUAL PROPERTY

Will details of my company or product be kept confidential?

By submitting content as part of your application for Inclusive Fintech 50, you agree to allow us to use this content for purposes related to the competition, including showcasing the winners. However, if a question in the application is marked ‘confidential’, responses to that question will only be used by our internal staff and judges for selection purposes. For complete details, please read the Official Rules.

 

Will applying to Inclusive Fintech 50 require me to share additional data not included in the application form?

No, although we might ask for additional clarification on certain responses. We may also request certain information to confirm your eligibility.

 

APPLICATION PROCESS

Can I get a copy of the application questions before I fill out the application?

Yes, you can download the questions here.

 

Do I need to create an account or register to apply?
No, you do not need an account.

 

Can I include documents or additional information to the application?

Yes, there are opportunities throughout the application to upload supporting or relevant documentation and we strongly encourage the sharing of documents to provide evidence to back up your responses.

 

Can I save a draft of my application on the site if I want to edit it later?

Yes, you can save your application at any time. You can either email yourself the link or copy the URL to your clipboard. Once you’ve navigated away from the application, you will not be able to retrieve the URL.

 

Can multiple people from my company contribute to the application?

Yes, you can share the link to your partially completed application with your colleagues. Please note that they will need to follow instructions to either save or submit the application.

 

How do I make sure my application is successfully submitted?

Make sure all required fields are populated and within the given word limits, then click the "Submit" button. If the application has been successfully submitted, you should see a screen with a message confirming that we received your application. You should also receive a confirmation email to the email address you provided.

How do I send a copy of the filled in application to myself? 

On submitting the application, you will receive a confirmation email containing all the information filled in the application you have provided. However, confidential information will not be on this email. Alternatively, you can print and save each application page in PDF format before submitting your application. Meanwhile, you can save your application and send a link to your own email address for viewing and  resuming later. Your application will be available via the website before submission.

I’ve submitted my application. What do I do now?

That’s great news! No further action is required. We’ll reach out to the contact information you listed in your application if we require any clarification, and will announce the finalists per the timeline on the website.

 

Will every single application be reviewed?
We will review all eligible applications received before the deadline.