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

The three finalists will attend the Milken Institute’s 2025 Global Conference in May, where the Grand Prize winner will be announced.

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The Milken Institute and the Motsepe Foundation have revealed the three finalists for the Milken-Motsepe Prize in FinTech, who will compete for the prestigious US$1 million Grand Prize. This prize recognizes innovative solutions aimed at expanding financial inclusion for small businesses in emerging and frontier markets.

The three finalist teams were selected from a competitive pool of applicants and will now attend the Milken Institute’s 2025 Global Conference in Los Angeles, California, in May, where the Grand Prize winner will be announced.

Finalist Teams:

  • Chumz, Kenya: A gamified savings product that uses behavioural psychology to encourage individuals to save money in an engaging and cost-effective manner.
  • Oze, Ghana: A digital lending platform that helps bridge Africa’s credit gap by providing banks with an SME-focused app that digitises financial data for better risk assessment and improved lending opportunities.
  • Verto, United Kingdom: A business-to-business cross-border payments platform that supports 49 currencies, eliminates intermediary fees, and facilitates faster transaction settlements for businesses in emerging markets.

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Emily Musil, Managing Director at the Milken Institute, emphasized the importance of the competition in promoting financial inclusion: “By supporting these pioneering teams, we aim to empower entrepreneurs who drive economic growth in their communities. The Milken-Motsepe Prize in FinTech highlights the power of innovation in addressing financial challenges in emerging markets.”

Launched in May 2024, the Milken-Motsepe Prize in FinTech seeks to award companies using cutting-edge technologies to increase access to capital and financial services for underserved entrepreneurs. The Grand Prize winner will be chosen based on the impact, scalability, and sustainability of their solutions.

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The total prize pool is $2 million, with $1 million designated for the Grand Prize winner. Finalists also gain valuable networking and pitching opportunities to help accelerate their solutions in high-impact markets.

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