Rethinking Fintech Distribution In Africa: The Role Of ‘Undiscovered Founders’
- Funding for African startups grew 18.5x from 2016 to 2022, with 45% of it attributed to fintech.
- 75% of all equity funding secured by African fintech startups in 2023 went to just 10 companies.
- Empowering undiscovered founders through a white labelling model could foster financial inclusion and innovation.
The concentration of investor capital on a few major players in the African fintech sector has limited innovation and financial inclusion. Empowering undiscovered founders through a white labelling model could address these challenges and create a more inclusive and far-reaching financial ecosystem. This approach has the potential to unlock innovation, increase job creation, and foster financial literacy in underserved communities.
