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.
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.