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Co-founder of Flutterwave, Iyinoluwa Aboyeji, has made his desire known to financially support any women-focused credit startup. He wants to throw his capital weight behind such a company due to the low financial capacity of female entrepreneurs.
For years, women have had less access to financial opportunities to fund their entrepreneurial activities. While commercial banks and private equity firms pledge gender-equal capital support, businessmen get the upper hand.
In order to help bridge the finance gap, Aboyeji announced on his Twitter page that he is willing to provide funds for concessionary loans, which will be approved to women-owned businesses.
He hinted that if the loan company allows, other individuals who care about women-led businesses will also contribute to fundraising. Aboyeji said he has three startups headed by women, which he plans to back. “Who is building a women’s only bank that allows me or anyone else who cares about bridging the gender wealth gap to deposit money that goes to concessionary loans for women owned businesses?
I have three of such women-owned businesses I want to back with concessionary loans and @anafricanfuture only does equity. Happy to help them raise money too.”
The co- founder had made his interest in supporting small businesses known in the past. Aboyeji and his partner had established a venture capital to make this possible. Recently, Flutterwave invested in Bankly, another Nigerian startup. Another entrepreneur, Edmund Oloto, said he is willing to support with his resources, any company planning to establish such a startup that financially cares for female entrepreneurs.
“If any female founders want to take this on I’ll give you everything including payment rails, core banking application, android and IOs digital banking apps, plus advisory.”
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