The fintech industry has long been dominated by male founders. New research released Thursday highlights this ongoing gender disparity.
At the same time, the Deloitte report offers a glimmer of encouragement for women-run fintech start-ups—and suggestions for leveling the playing field.
The analysis shows that women-founded startups and those co-founded with men comprised 12.2% of the 3,017 fintechs in 2019, only slightly higher than the 10.9% (of 411 startups) recorded in 2010.
Why the disparity? “We are operating at the intersection of technology and finance, which are notably two industries woefully under-represented by women,” Alaina Sparks, Deloitte’s US fintech leader, tells Forbes. “The issue can be exacerbated by bias from those who have tremendous influence in providing the necessary capital to be successful—financial, social, and human capital,” she says.
Encouragingly, more dollars are being directed toward women-founded