Global fintech and funding innovation ecosystem
August 26, 2022   Entrepreneurs, Start-ups, Small Businesses, FinTech and Alternative Finance, Fundraising, Investing, Trading, Innovation and Resources, Leadership, Competition, Human Capital, Health, Research, Stories, Venture Funding and Building   No comments

Venture Capitalists Dislike Women More Than They Like Profit

AltFi | Hannah Duncan  | Aug 22, 2022

Image Pexels Andrea Piacquadio - Venture Capitalists Dislike Women More Than They Like Profit

Image: Pexels/Andrea Piacquadio

It’s enough to make you want to hurl your skinny latte at the wall. Preferably a freshly painted white one. 40 per cent of all early-stage fintechs are led by women. Yet investors – blinded by prejudice - are only willing to part with 4 per cent of funds. It’s not a coincidence. It’s a disgrace.

Esteemed psychologist and fintech leader Elin Helander:

  • A concrete example is that if a man comes in wearing a fancy, expensive coat, it’s seen as a sign of success. Whereas if a woman wears an expensive, fancy coat, [investors] think she’s not good at handling money – or she’s spending a lot.  Along with other researchers, Helander has conducted extensive studies into gender-related bias in business.
  • Our brain is designed to put everything into categories bBut these categories easily turn to prejudices. Just because you acknowledge them… it doesn’t mean they go away.
  • Across investment rounds, women are frequently interrogated about their homelife too. A hurdle most men do not have to jump:
    • “Quite often I was told that because I have four children, I’m uninvestable”, reveals Gemma Young, founder of the award-winning Women of Fintech community and Chief Growth Officer at TechPassport. “But there are just as many male parents as female parents”.

See:

What’s more, the latest findings from Innovate Finance show that female-led fintechs receive just a microscopic 4 per cent of fintech investment in the UK. It’s SO wrong. It’s blatant sexism. It’s deeply unfair. And – stupidly - it’s also hurting the investors themselves.

Investors are missing out on a lot of money

Like smashing a cup of coffee against the wall, investors are wasting resources, destroying opportunities, and making one hell of a mess. For god’s sake. The solution is obvious. We urgently need investment in female-led fintech. It’s time to end the antiquated thinking and start opening the wallet… Your profit margins will thank you for it.

Continue to the full article --> here

 

NCFA Jan 2018 resize - Venture Capitalists Dislike Women More Than They Like ProfitThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Venture Capitalists Dislike Women More Than They Like ProfitFF Logo 400 v3 - Venture Capitalists Dislike Women More Than They Like Profitcommunity social impact - Venture Capitalists Dislike Women More Than They Like Profit

Support NCFA by Following us on Twitter!







NCFA Sign up for our newsletter - Venture Capitalists Dislike Women More Than They Like Profit




 

Leave a Reply

Your email address will not be published. Required fields are marked *

seven − 4 =