FINCA International and USAID PACE Launch FINCA Forward, a Fintech Innovation Platform

Global microfinance pioneer FINCA International, in partnership with USAID, announces the launch of FINCA Forward, a fintech innovation platform. This two-year pilot will facilitate collaboration between early-stage financial technology enterprises and microfinance institutions (MFIs) to help small and growing fintech businesses overcome the pioneer gap and to enable MFIs to better reach underserved and underbanked populations, especially women. Participating fintechs will run proof-of-concepts in close collaboration with MFIs in Africa and Latin America, which will include tailored pre-investment support and the opportunity to access investment capital.

FINCA Forward provides a platform through which microfinance institutions can systematically evaluate new technologies, and fintech start-ups can test their value propositions with prospective clients, by way of a microfinance institution’s established customer base.