Advocacy for gender diversity continues. The advocacy drums are louder and louder every day. Twitter handles #mensupportingwomen, #metoo, #WeUniteWe and the 5th SDG dedicated to Gender equality, are just a few examples of campaigns. The Decade of Women was created as an action-focused campaign to support SDG5. Women investing in women is one not-for-profit campaign along those lines and All Raise.
Source: All Raise
Techcrunch published recently the Q1 2018 global diversity investment report: Investing trends in female founders and showcased All Raise. Lots of statistics around funding of startups with females in the founding team or solo female founders. Looking at either dollars raised or number of deals. Checking seed deals which are leading indicators or later stage venture funding. Things look better if you look close enough and make an effort to pick one positive statistic for every disappointing one.
Here are some of my morning efforts:
– “$ invested in Q1 2018, into companies with at least one female founder were just 9% of venture dollars invested”
+ “$ invested in Q1 2018, were up 60% from $ invested in Q1 2017”
– “$ invested in Q1 2018, invested in solo female founders were only 3% of venture dollars.
+ “Seed $ invested in Q1 2018, into companies with at least one female founder were 18% of all seed dollars, compared to 17% in Q1 2017”
Fintechs targeting the underbanked, led by female founders.
Two years ago Wobe won the regional Southeast Asia Her Startup competition in Indonesia and then the Her Startup Global Finals Competition in California. As a result, Tim Draper who was a judge at the event, decided to invest $100,000 in the company’s seed round. Also, The Singaporean Wavemaker Partners fund had also participated in earlier funding rounds and was instrumental in introducing Wobe across the Draper Network (more details).
Total funding: $1mil Seed round
Total funding: $1.2mil ICO, Seed + Newton partners undisclosed.
Total funding: $10mil
Source of funding figures = Crunchbase.
These are all real fintechs that have communities, apps that are fully operational, a solid addressable market, but seem to have as much backing as they deserve.
Efi Pylarinou is a Fintech thought-leader, consultant and investor.
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