Milken-Motsepe Prize in FinTech Announces Three Finalists Competing for US $1 Million Grand Prize
The Milken Institute and the Motsepe Foundation are pleased to announce the three teams advancing to the final round of the Milken-Motsepe Prize in FinTech (https://MilkenMotsepePrize.org/). These innovators are competing for the prestigious US$1 million Grand Prize. The Milken-Motsepe Prize in FinTech aims to recognise groundbreaking solutions for expanding financial inclusion for small businesses in emerging and frontier markets.
The Milken-Motsepe Prize in FinTech, supports the use of cutting-edge technologies to increase access to capital and financial services for underserved entrepreneurs worldwide. The three finalist teams were selected from a highly competitive pool of applicants and will now have the opportunity to attend the Milken Institute's 2025 Global Conference in Los Angeles, California, in May, where the Grand Prize winner will be announced.
Finalist Teams:
Chumz, Kenya (https://apo-opa.co/3DmBdD4)
Chumz is a gamified savings product that leverages behavioural psychology to help individuals save money in an engaging and cost-effective manner.
Oze, Ghana (https://apo-opa.co/3XvWFMF)
Oze is a digital lending platform bridging Africa's credit gap by providing banks with an SME-focused app that digitises financial data, enabling better risk assessment and improved lending opportunities for small businesses.
Verto, United Kingdom (https://apo-opa.co/4ilCutv)
Verto is a business-to-business cross-border payments platform designed for businesses in emerging markets. Its unified network eliminates intermediary fees, supports 49 currencies, and facilitates faster transaction settlements.
Emily Musil, Managing Director at the Milken Institute, emphasised the significance of the competition in fostering financial inclusion, saying: 'By supporting these pioneering teams, we aim to empower entrepreneurs who drive economic growth and opportunities in their communities. The Milken-Motsepe Prize in FinTech highlights the power of innovation to address financial challenges in emerging markets, and we are excited to see these finalists bring their groundbreaking solutions to life.'
The Milken-Motsepe Prize in FinTech launched in May 2024 at the Milken Institute Global Conference to award innovative companies that best demonstrate the use of cutting-edge technologies to expand access to capital and financial services for small businesses in emerging and frontier markets. The Grand Prize winner will be selected based on the impact, scalability, and sustainability of their solutions.
The Milken-Motsepe Prize in FinTech offers $2 million in total prizes, including the $1 million Grand Prize. Beyond the financial award, finalist teams benefit from invaluable networking and pitching opportunities, helping them accelerate the implementation of their solutions in high-impact markets.
Distributed by APO Group on behalf of The Milken-Motsepe Innovation Prize Program.
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