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#InclusiveFintech50 // Jamii.One Joins This Year’s Cohort
Jamii.one , a fintech company that works with communities helping them unlock the potential of unbanked has been recognised by Center for Financial Inclusion (CFI) as part of this year’s #InclusiveFintech50 cohort.
The company was selected among other fintech companies including AkinTec is a tech startup that provides loans to classes C, D, and E, through a credit risk modelling system primarily for Afro-descendent entrepreneurs and businesses, Aloi ,a platform for dedicated lending to green micro-entrepreneurs through verified merchants, Bima Money, Cash2Crop, Flexpay, Marketforce, Umoja Labs among others.
The companies were recognized for their effort in using #fintech to make #financialservices inclusive to everyone.
Inclusive Fintech 50 (IF50) is a global innovation competition that aims to identify and elevate cutting-edge emerging inclusive fintechs that have the potential to drive financial inclusion.
IF50 uncovers high-potential start-up fintechs addressing limitations in financial services delivery for unserved or underserved customers.
Also Read : CM.Com ranked a leader in the CCaaS Market
Over the last three competitions, IF50 has attracted over 1,000 eligible applicants. Past winners have collectively increased their funding by $620 million in the year following their win.
Winners benefit from access to zero-cost tools such as Visa’s Practical Business Skills and Practical Money Skills.
Since the first cohort in 2019, The InclusiveFintech50 seeks to recognize early-stage fintechs in advanced or emerging markets that offer a solution among credit, insurance, payments & remittances, savings & personal financial management, or infrastructure addressing special challenges of underserved customer segments.
Source: Jamii.One LinkedIn Page
Eligible applicants were scored against the following criteria:
Inclusivity: Investors are increasingly interested in finding fintechs that are filling market gaps and contributing to inclusion. Applicants will be assessed on the degree to which their target market includes underserved people and the problem that the startup is aiming to solve.
About Jamii.One
Jamii.One who operate from our Westlands Office Space helps elevate data of communities for financially underserved people to access services to weather financial shocks and improve their financial health.
Jamii.one unlocks the potential of 1.6 billion financially underserved people in community-based groups.
By using the Jamii.one app for their record-keeping, +200,000 people are already gaining access to affordable financial services through their community-based groups.
These groups are innately inclusive to even the weakest in society and with just one smartphone in the group, they can now access financial services including credit and micro insurance to improve members financial health.
67% of users are women, and Jamii.one is committed to SDG 1 and SDG 5. Jamii.one is a Mastercard MASSIVE Finalist 2020 and was selected by the UNDP Digital X as a proven and innovative digital solution.
Under the Digital X Program, The UNDP #ChiefDigitalOffice mapped over 4,000 solutions and now launched the first UNDP marketplace of vetted solutions with proven traction.
The solutions covered the themes climate, crisis, health, gender, and inclusive growth and the entire database of solutions is readily available for download.
