UNICEF and ING Financial institution within the Philippines have introduced a partnership to launch an initiative referred to as ‘fintech for affect’ for early-stage startups growing digital options for teenagers, youngsters and households.
The startups will obtain equity-free investments and technical and enterprise mentorship from UNICEF, ING and different undisclosed mentors for a yr.
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“We’re repeatedly working on methods to assist folks in navigating monetary challenges to have a optimistic affect on their monetary well-being,” stated Benoît Legrand, Chief Innovation Officer at ING.
This initiative is launched as COVID-19 has bolstered the necessity for extra investments within the fintech sector.
“The funding helps open-source options that contribute to a rising physique of digital public items that may advance society,” Chris Fabian, Senior Adviser at UNICEF Innovation, stated.
ING Financial institution is a Dutch world monetary establishment with places of work in over 40 nations whereas UNICEF supplies humanitarian and developmental assist to youngsters worldwide.
The 5 startups:
Agrabah: A digital platform that connects farmers and fisherfolk on to consumers and loans.
BeamAndGo: A remittance-based platform that helps migrant employees and their households to raised handle their funds.
Educ4All: It connects college students to instructional loans.
Attain52: It supplies reasonably priced micro-insurance healthcare and well being merchandise to rural communities.
Saphron: It empowers grassroots micro-insurance brokers to gather correct, environment friendly knowledge with a robust new AI-enabled platform.
Picture Credit score: Valencia Wong
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