Milken-Motsepe Prize in FinTech Announces Finalists Competing for $1 Million Grand Prize

The Milken Institute and the Motsepe Foundation have announced the three finalist teams advancing to the final round of the Milken-Motsepe Prize in FinTech. These pioneering innovators are competing for the prestigious $1 million Grand Prize, which recognizes groundbreaking financial solutions aimed at expanding access to capital and financial services for small businesses in emerging and frontier markets.

Finalist Teams and Their Innovative Solutions

The finalists were selected from a highly competitive pool of applicants, all striving to leverage cutting-edge technology to foster financial inclusion. These three teams will attend the Milken Institute's 2025 Global Conference in Los Angeles, California, in May, where the Grand Prize winner will be announced.

Chumz (Kenya)

More about Chumz Chumz is a gamified savings product that applies behavioral psychology to encourage individuals to save money in a more engaging and cost-effective manner.

Oze (Ghana)

More about Oze Oze is a digital lending platform bridging Africa's credit gap by providing banks with an SME-focused app that digitizes financial data. This enables better risk assessment and improved lending opportunities for small businesses.

Verto (United Kingdom)

More about Verto Verto is a business-to-business (B2B) cross-border payments platform designed for businesses in emerging markets. Its unified network eliminates intermediary fees, supports transactions in 49 currencies, and accelerates transaction settlements.

A Global Platform for Financial Inclusion Innovation

Emily Musil, Managing Director at the Milken Institute, emphasized the significance of the competition, stating: "By supporting these pioneering teams, we aim to empower entrepreneurs who drive economic growth and opportunities in their communities. The Milken-Motsepe Prize in FinTech highlights the power of innovation to address financial challenges in emerging markets, and we are excited to see these finalists bring their groundbreaking solutions to life."

Recognizing Impact, Scalability, and Sustainability

The Milken-Motsepe Prize in FinTech, launched in May 2024 at the Milken Institute Global Conference, seeks to award innovative companies that demonstrate the use of advanced technology 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 solutions.

Beyond the Prize: Transformative Opportunities for Finalists

With a total of $2 million in prizes, including the $1 million Grand Prize, the Milken-Motsepe Prize in FinTech goes beyond financial awards. Finalist teams gain access to invaluable networking and pitching opportunities, helping them accelerate the implementation of their solutions in high-impact markets. By connecting with key industry leaders and investors, these teams have the potential to drive long-term, transformative change in financial inclusion worldwide.