Female FinTech Competition 2020 Winner Announced11.02.2020
After two months, 43 applications, six finalists and one virtual pitch: Nuggets has emerged as the winner of the 2020 Female FinTech Competition.
The UK-based e-commerce payments and ID platform allows users to store their personal and payment details securely in the blockchain, so it is never shared online. According to Nuggets: “That means no more data breaches – because companies don’t have to store your data. So you can use services and make payments without worrying about your privacy and security.”
The competition, run by Deutsche Bank, Atos, Google Cloud and TechQuartier, invites FinTechs with a female founder or female(s) in the top management groups to pitch their business case. The winner earns a place on Atos’ FinTech programme, while the remaining finalists are able to access and benefit from Deutsche Bank and Google Innovation resources.
After 2 months, 43 applications, 6 finalists and one virtual pitch the winner of #FemaleFinTech2020 has been decided: @nuggetsPAYandID! Find out more about the competition, the finalists and the winner: https://t.co/zFYhk46Zx3
— Deutsche Bank (@DeutscheBank) October 30, 2020
Deutsche Bank judge Luc Mériochaud said: “All six finalists delivered really compelling pitches, and we had a tough time judging. In the end, we had to agree on which one had the strongest business case at this moment in time, but I am looking forward to seeing how they all develop as I am convinced each has the potential to succeed.”
The competition aims to promote gender diversity in the FinTech space. A recent study from Deloitte found that only 7% of finance-based startup founders were women, and that this group is still being denied equal access to opportunities. The same study found that just 1.3% of the funding raised in 2019 by FinTechs went to companies founded only by women.
Mériochaud added: “Gender diversity is much-needed in the FinTech sector. Not only are women severely under-represented relative to the population, there is also plenty of evidence that greater gender diversity results in more successful new ideas, products and services. My hope is that this competition showcases the talent in the market and creates role models to inspire women at all levels.”
The full list of finalists and judges can be found below:
- Franca Perin – IMPACTIN (France)
- Iwona Pawlak – Smart Forest (Poland)
- Seema Khinda Johnson – Nuggets (UK)
- Serena Torielli – Virtual B (Italy)
- Annie Guo – Silkpay (France)
- Nerissa Naidu– Axil (USA)
- Luc Mériochaud, Global Head of Innovation Network and Corporate Venture Capital, Deutsche Bank
- Ozlum Yavus, HRD for AtoS Central Europe and Germany, Atos
- Annette Maier, MD, Google Cloud Germany
- Lucas Schmitt, Head of Innovation Products, Tech Quartier
Source: Deutsche Bank
Under-represented founders face with disproportionate barriers entering the VC ecosystem.
The list shines a spotlight on 250 women across 9 categories.
Half of companies have disclosed that women earn between 2.6% and 21.1% less than men.
Sometimes "brute force" is needed to change fundamental structures.
Businesses with more diverse teams produce better results with more innovation.