Financial health – a household’s ability to manage its income and expenses, weather financial shocks and plan for the financial future with a long-term perspective – is a challenge for families around the world, particularly in developing and emerging markets.
The MetLife Foundation and Village Capital are teaming up for a two-year partnership to harness the power of venture capital toward the goal of financial health in select countries in Europe and the UAE.
Local Solutions to Local Problems
Our goal: uncover overlooked fintech innovators that are having an impact on financial inclusion, and build ecosystems around them.
Rather than just looking to Silicon Valley for ideas, we are going straight to the source: entrepreneurs living in countries where MetLife is active and broadly shared financial health is a challenge. Why? We believe in the value of lived experience and local solutions to local problems. Local entrepreneurs have a deeper understanding of culturally-relevant solutions and customer needs, making them better served to solve local problems.
We will support these entrepreneurs and help them scale, by facilitating partnerships with existing institutions (banks, microfinance institutions, lenders) and providing ecosystem support (opportunities for collaboration, exposure to policymakers, investors, and intermediaries.
Specifically, in each country we will:
- Host a financial health roundtable that convenes top experts from across the ecosystem, including startups, investors, regulators, banks and corporations
- Select and provide business development support to a group of 10-12 startups seeking investment to scale their innovations
- Showcase the participating companies through a Financial Health Forum, in which three participating ventures will receive a total of US$50,000 in grants from MetLife Foundation
- Partner with a local financial technology accelerator to help provide best practices in startup development and an international network of stakeholders through VilCap Communities
Village Capital and the MetLife Foundation are seeking startups developing products that address true barriers to low-to-moderate income families living financial healthy lives. We are specifically interested in companies that:
- Improve the financial resiliency of underserved households;
- Lower the barriers for SMEs in supporting their employees and growing their businesses;
- Increase the relevance and affordability of savings, credit, payments, and insurance through leveraging data analytics and/or blockchain technology;
- Improve efficiency in supply chains and distribution channels across sectors through increased price transparency and access to other decision-driving market information.
Applications are closed.
Program Dates and Locations
Check back for updates on the initiative in Ukraine (Spring 2018), and Turkey (Fall 2018).