The company was founded by Romi Savova in 2014 and is based in London. A valuation of €432.9 million was assigned to PensionBee’s IPO on the London Stock Exchange in 2021.
There is a perception that fintech is a ‘boys club.’ Still, some of the industry’s most exciting and forward-looking companies are founded and led by women.
It’s no secret that fintech still has some way to go in gender equality, combining the traditionally male-dominated fields of finance and technology. Fintech firms founded by women receive just 1 percent of all venture capital funding in the UK and 3 percent of investment in fintech firms led by women in the US. In addition to fintech founders, angel investors, and technology experts. The fact that female-led fintech companies are making waves in this fast-moving industry is undoubtedly encouraging, even though there is still much work. In many cases, these companies are not only founded by women but also created by women in consideration of their specific needs and wants. World Finance looks at five of the world’s most exciting female-led fintech companies in this article.
Starling Bank
Starling Bank is a digital challenger bank based in the UK that has earned a reputation as a poster child for female leadership in fintech. In 2014, Anne Boden founded a company intending to reinvent financial services. She has succeeded in doing so with over 2.5 million customers. While Starling discloses its gender pay gap figures, it acknowledges that there is still much room for improvement. At Starling, 43% of senior leadership positions are held by women.
PensionBee
Customers can track and manage their pensions online with PensionBee by combining their old pension plans into one online plan. The company was founded by Romi Savova in 2014 and is based in London. A valuation of €432.9 million was assigned to PensionBee’s IPO on the London Stock Exchange in 2021. A smartphone-friendly app that manages pensions remotely and efficiently has been dubbed the Monzo of pensions. The company hopes to bring this complex industry into the 21st century.
Borrowell
An economic downturn triggered by COVID-19 has led Canadian fintech firm Borrowell to help those struggling. The company was founded in 2014. Its mission is to help people make informed credit decisions to achieve financial goals. Since 2014, the company has assisted people in making informed decisions about credit to achieve their financial goals. Great Place to Work Canada has recognized Borrowell as one of the top workplaces for women because of its commitment to workplace diversity.
Ellevest
Several companies, such as GameStop, Blackberry, and AMC Cinemas, saw their share prices skyrocket this year as amateur investors drove up the cost of their stock. In the background, Ellevest is a trading app that aims to help women start investing and shake up the industry. Sallie Krawcheck founded the company in 2014 as a tool built by women for women. In addition to addressing specific issues such as career breaks, longer life spans, and pay gaps, its investment algorithm considers particular problems that may affect its female user base. Despite the pandemic downturn, the company reached $1bn in assets under management in March.
Ovamba Solutions
Viola Llewellyn founded Ovamaba Solutions in 2013 to help Africa’s small, medium and micro businesses access short-term financing. The African credit gap was not being closed by banks and traditional financial institutions, so Llewellyn founded Ovamba Solutions to provide innovative online platforms and mobile apps for African entrepreneurs to meet the needs of emerging small and medium-sized businesses more effectively. Aside from chatbots that speak African languages, the company offers culturally sensitive solutions.
