Digital Financial Services Lab (DFS), an earl-stage incubation vehicle funded by the Bill and Melinda Gates Foundation, has announced its planned investment of $250,000 in four FinTech startups in developing markets.
DFS seeks out promising startups that have the potential of encouraging and sustaining entrepreneurial activities in the low-income brackets in developing nations by providing innovative solutions to their socio-economic challenges.
Founded in 2015, DFS has so far invested over $600,000 in 8 startups from across the globe. For the year 2017 edition, DFS finalists were nine startups from six countries; USA, Canada, Nigeria, Kenya, Ghana, and India.
These eight startups went through a rigorous one-week boot camp geared towards refining their products before they were presented before DFS Lab’s board of experts in Negombo, Sri Lanka. On top of getting financing, the startups will also get six months intensive mentorship, leading to their integration into an international network of top experts who are willing to mentor and guide them through their growth.
“We are excited to have the opportunity to invest in companies that are focusing on consumers in emerging markets. Expanding access to digital financial services, especially …read more