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Fintech and White Privilege

This thought leadership piece explores the issue of race in Fintech, particularly amongst founders and those leading investment rounds in the Fintech space. The author posits that like much of the tech sector, Fintech has a long muffled racial and gender diversity issue. The piece shows us that only 3% of venture investors in 2016 were black, and fewer than 1% of founders were black. As the author puts it – this is important because ” While people of color don’t only build businesses to serve other people of color, diversity at the top is more likely to yield strategies, products and marketing aimed at diverse users.” Interestingly, this piece also talks about Fintech’s moral obligation to diversity. As so many fintechs are aimed at “democratizing” access to financial services, many fail to see that in many markets, those most underrepresented are communities of color.

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