Women are also rare in boards and strategic executive positions, the study shows.
They are still a glaring and disturbing minority in the business world, especially if the business is finance. To give you an idea, Brazil is the second country in the world with the most fintechs founded by women. But, there are only 16 out of almost 1.5 thousand. The first in the ranking is the United States (USA), with 26. As for the profile of funds that invest in fintechs, the scenario is repeated: white men control 93% of venture capital dollars.
The survey is in the new Findexable report, Fintech Diversity Radar. On average, women founded only 1.5% of fintechs, according to the study. Here, there is only one fintech in founded exclusively by women: the BCredi, by Maria Teresa Fornea, purchased by Creditas in January, according to an article by Fintechs Brasil, Blocknews partner news site.
According to the report, although the numbers show this harsh reality, the good thing is that outside Europe and the US, efforts for financial inclusion are accompanied by more women at the helm.
Women are also a minority on boards
Of the 1,000 best-performing fintechs on the FDR1000 index, only 16 are women-only initiatives. Therefore, 911 were founded by men. Furthermore, there are only 68 female CEOs in total. And for every woman on the board there are, on average, nine men.
If we look at the composition of founding teams, executives or boards of directors, women in senior-level positions are notable for their absence. So the number in strategic, business, or technology development roles is incredibly small.
When present, they tend to be in the human resources and marketing functions. The number in strategic, business or technology development roles is incredibly small.
16 women at fintechs were interviewed, including Deborah Abi-Saber Nubank’s global leader in diversity, inclusion and people support. The survey was conducted at 1032 fintechs from 62 countries.