Switzerland-based firm Seedstars Capital has announced the launch of the Financial Innovations for Women Affected by Migration (FIWAM) program. This growth initiative aims to support fintech companies across Asia, the Middle East and North Africa (MENA), and Sub-Saharan Africa that promote financial inclusion for women migrants. The program, accepting applications until July 30, is funded by the Impact-Linked Fund for Gender Inclusive FinTech (ILF for GIF), managed by the Impact-Linked Finance Fund (ILFF), and supported by the Swiss Agency for Development and Cooperation and the Austrian Development Agency.
Seedstars has partnered with the ILF for GIF to enhance access and utilization of financial products and services for women affected by migration. Through the FIWAM growth program, selected fintechs from the target regions will receive technical assistance to unlock investment potential and scale their impact, with a focus on serving women migrants and those affected by migration. Each cohort of 10-15 fintechs per region will benefit from expert support and mentorship over a three-month period.
To qualify for the program, fintech entities must be for-profit organizations operating in a Sub-Saharan African, MENA, or Asian country. They should provide or have the potential to offer fintech solutions catering to women migrants or those affected by migration. The entities should demonstrate product-market fit, be at a growth stage, and generate monthly revenues of around $10,000 USD. Women-led companies and founders who are women migrants are strongly encouraged to apply.
Susanne Thiard-Laforet, Programme Manager at the Austrian Development Agency, expressed enthusiasm for the collaboration with Seedstars, emphasizing the program’s importance in enhancing access to financial services for women impacted by migration. Elizabeth Jones, Global Lead Program Operations of Seedstars, highlighted the transformative potential of the FIWAM program, expecting it to create lasting impact by fostering financial inclusion for women migrants and those affected by migration.