A new research by global fintech think tank Findexable shows that, in Latin America, there are progressive signs in women’s participation in founding some of the world’s largest new companies. A third of the 15 newest best funded fintechs founded by women from 2019 to 2020 are in Latin America; led by Brazil and followed by Argentina and Chile.
The median funding for companies with one or more woman founders is $3 million and $5 million for women-only founders in Latin America.
Also, the region has the highest share of fintech firms (11%) with a mix of male and female founders; but 1.5% were founded solely by women. Earlier this year, LABS showed that in a crowded 2020 for funding in Latin America, none of the $4.4 billion went to female-only founded startups.
Sao Paulo is home to one of the biggest companies with a woman founder by employee count, two of the biggest by total venture funding and four companies with a woman as CEO, according to the report.
In the Middle East, Africa and Latin America more than 10% of female executives have made it to CEO; in North America it is less than 5%, according to the report. Findexable’s survey also shows that in Latin America, APAC, and Africa, the companies that secured the highest median funding were those with only women founders.
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Findexable found that, globally, 1.5% (16) of 1,032 best funded private fintech firms globally are founded solely by women and receive just 1% of total fintech venture funding. The Fintech Diversity Radar research also reveals how “globalization of technology and financial services is playing out, as fast-growing markets score better by proportion and numbers of women founders and women in key positions – numbers that are a mirror image of the distribution of global venture funding,” it says.