The Milken-Motsepe Prize in FinTech supports the use of cutting-edge technologies to increase access to capital and financial services for underserved entrepreneurs worldwide. The three finalist teams 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:Â
Chumz, Kenya
Chumz is a gamified savings product that leverages behavioural psychology to help individuals save money engagingly and cost-effectively. It allows users to set personal or group savings goals, receive reminders, and track progress. Features include automatic savings options linked to mobile money transactions and the ability to create custom online shops. Chumz is authorized by the Capital Markets Authority and partners with licensed entities to ensure the safety of users’ funds.
Oze (Ghana)
Oze offers a comprehensive business app tailored for small and medium-sized enterprises (SMEs). The platform provides tools for bookkeeping, invoicing, inventory management, and analytics. Additionally, Oze facilitates access to no-collateral loans, helping businesses secure working capital or inventory financing. For financial institutions, Oze’s lending management system enables digital loan applications, credit scoring, automated disbursement, and real-time portfolio analytics, aiming to reduce non-performing loans and improve repayment rates.
Verto (United Kingdom)
Verto is a global financial technology firm specializing in cross-border payments and foreign exchange solutions for businesses of all sizes. The platform offers multi-currency business accounts, expense management, FX and treasury management, and invoice payment solutions. Verto’s services are designed to simplify international transactions, providing access to 49 currencies in real-time and enabling businesses to manage market volatility effectively.
These finalists will present their solutions at the Milken Institute’s 2025 Global Conference in Los Angeles, California, in May, where the Grand Prize winner will be announced.
Emily Musil, Managing Director at the Milken Institute, emphasised the significance of the competition in fostering financial inclusion, saying: “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.”
The Milken-Motsepe Prize in FinTech launched in May 2024 at the Milken Institute Global Conference to award innovative companies that best demonstrate the use of cutting-edge technologies to expand access to capital and financial services for small businesses in emerging and frontier markets. The Grand Prize winner will be selected based on the impact, scalability, and sustainability of their solutions.
Distributed by APO Group on behalf of The Milken-Motsepe Innovation Prize Program.
