Wider, Deeper Vc Funding Wished For Indian And African Cell Cash Companies, Says Gates Foundation Document

This will improve outreach and the ability of more fintechs and DFS firms to get to market.
“The market hasn’t reached any kind of meaningful scale,” said Ross Baird, CEO of Village Capital, in a statement.
“According to the Breaking the Pattern report, funded by the Gates Foundation, 72% of venture capital in East Africa for the last two years went to only three start-ups.
New pitching opportunities and forums for smaller, less well known firms to meet investors, governments and so forth are needed.
Not enough other digital financial services (DFS) firms outside of the big names like M-Pesa are getting early seed investment money or, crucially, scale up investment to allow their fintech-enabled financial inclusion projects to achieve wide scale adoption.

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