The Milken Institute and the Motsepe Foundation have announced the three teams advancing to the final stage of the Milken-MotsepePrize in Fintech.
These innovators are competing for the prestigious US$1 million Grand Prize.
The competition aims to recognise pioneering solutions that enhance financial inclusion for small businesses in emerging and frontier markets.
The Milken-Motsepe Prize in fintech supports the use of advanced technologies to improve access to capital and financial services for underserved entrepreneurs worldwide.
The three finalists were selected from a highly competitive pool of applicants and will now have the opportunity to attend the Milken Institute’s 2025 Global Conference in Los Angeles, California, in May, where the Grand Prize winner will be announced.
Finalist Teams:
- Chumz (Kenya) – A gamified savings platform that applies behavioural psychology to encourage individuals to save in an engaging and cost-effective manner.
- Oze (Ghana) – A digital lending platform that bridges Africa’s credit gap by equipping banks with an SME-focused app that digitises financial data, improving risk assessment and lending opportunities.
- Verto (United Kingdom) – A business-to-business cross-border payments platform designed for enterprises in emerging markets. Its unified network eliminates intermediary fees, supports 49 currencies, and enables faster transaction settlements.
Emily Musil, Managing Director at the Milken Institute, highlighted the competition’s role in advancing financial inclusion:
“By supporting these pioneering teams, we aim to empower entrepreneurs who drive economic growth and create opportunities in their communities. The Milken-Motsepe Prize in fintech demonstrates the power of innovation to address financial challenges in emerging markets, and we look forward to seeing these finalists bring their solutions to life.”
The Milken-Motsepe Prize in fintech was launched in May 2024 at the Milken Institute Global Conference to recognise companies that effectively utilise cutting-edge technologies to expand access to financial services for small businesses.
The Grand Prize winner will be selected based on the impact, scalability, and sustainability of their solution.
With a total prize fund of US$2 million, including the US$1 million Grand Prize, the competition provides more than just financial rewards.
Finalists gain access to valuable networking and pitching opportunities, accelerating the adoption of their solutions in high-impact markets.
Featured image credit: Milken-Motsepe
