reach52 announced as an “Inclusive Fintech 50” for 2020
reach52 has been announced as an “Inclusive Fintech 50” for 2020. Inclusive Fintech 50 elevates early-stage fintechs driving financial inclusion and resilience around the globe.
Inclusive Fintech 50 announced the 2020 cohort of startups driving inclusion and resilience for the 3 billion financially underserved people globally. An independent panel of 35 experts from venture capital, technology, and financial services firms identified the most promising startups providing credit, insurance, savings, and other critical products to low-income households and businesses that are particularly vulnerable to financial shocks like the COVID-19 economic crisis.
The 50 fintechs were selected from a pool of 403 eligible applicants operating in 111 countries based on four criteria: inclusiveness, innovation, scale potential, and traction. The cohort will benefit from connections to leading investors including the IF50 Investors Circle, as well as their peers from the 2019 cohort. Inclusive Fintech 50 was founded by MetLife Foundation and Visa, with support from Accion and IFC, and additional funding from BlackRock and Jersey Overseas Aid & Comic Relief.
The judges also selected reach52 as one of only two fintechs to receive “Financial Resiliency” prizes of USD 25,000. This was based on our contribution to strengthening the ability of low-income households to withstand and recover from the COVID-19 pandemic, as we expand our community health insurance to more families across India, Cambodia and the Philippines,
Read more about the Fintech 50 and this year’s cohort here…
Despite the pandemic, reach52 experienced our most impactful year to-date in 2021. Read our impact report for more on our tech developments, growing global presence and campaign spotlights.
Co-authored by reach52’s John Paluyo, reach52 alumni Rich Bryson and Medtronic Labs’ Anne Stake.
Noncommunicable diseases (NCDs) continue to be the leading cause of death globally, with four out of five people with an NCD living in LMICs. However, there is limited availability of affordable diagnostics for NCDs at the primary care level in many rural populations, making it one of the weakest links in the cascade of care. New innovations are needed to reach these populations with the accessible diagnostics services they need.