Pakistani FinTech Startup Receives Funding By Bill & Melinda Gates Foundation
The winners of the first bootcamp for entrepreneurs and startups by FinTech incubator DFS are announced. DFS is funded by Bill and Melinda Gates.
Participants were invited from 10 countries. The participants were required to present their solutions to DFS Lab’s board of experts. This was a seven day camp held in Dar-es-Salam, Tanzania. DFS brought together 20 most promising and hard working entrepreneurs who are going to continue doing best work in the future in the technology field.
The participant got a chance to experience amazing time along with a really good experience as there were experts and mentors to guide them. There was mentorship and strategic counsel from industry stalwarts.
It was also an opportunity to be awarded a share of over $2 million of total investment and a further six months of intensive mentorship.
The funding awarded was split between four stand-out ventures – Yooz (India), Credit Fix (Pakistani FinTech Startup), SERV’D (India) and Malako (Uganda) – which were praised for their innovative approach to building new financial services for emerging markets.
Pakistani FinTech Startup Credit Fix aims to provide a platform for building credit sources for consumers with low income. In this way the people will be able to secure loans for revenue-generating assets such as auto-rickshaws and taxis which will, ultimately, improve their standard of living.
Yooz provides free, fast international remittance transfers of any value at preferential exchange rates.
SERV’D Tech Pvt. Ltd is a platform providing workers at are home some safety. It is making sure that every worker either they are maids, drivers, cooks, sweepers, peons, guard; they all are registered.
Malako aims to provide credit lines to all the low income consumers.
Director of DFS Lab, Dr Jake Kendall said,
“Digital financial services have the power to transform developing country economies, profitably and at scale. We are searching for breakthrough ideas with the potential to bring low income households from the cash economy into the digital financial realm and give them tools to improve their lives. The entrepreneurs were a very diverse and talented group from all over the world. Their different skills, perspectives and levels of experience produced valuable insights and led to dynamic, highly productive collaborations. We are very proud to be able to play a part in helping them reach their full potential.”
So now the change is just at the step of your door