MIX announces partnership to track funding for digital financial services
19 September 2018
We are pleased to announce a new effort to raise the profile of digital financial services among funders through better data on funding flows. In partnership with the Bill & Melinda Gates Foundation, MIX will develop a methodology to analyze global funding for digital financial services, across all funding instruments including grants, debt, and equity. Armed with this data, funders will be able to identify gaps and concentrations in funding for digital financial services, which will in turn enable greater impact.
This initiative is part of MIX’s larger effort to improve the quality and scope of data available in the inclusive fintech space. As technology expands the availability and convenience of financial services for the poor, better data is needed to drive responsible investment. While the impact of digital financial services on financial inclusion has been demonstrated through global surveys such as Global Findex, there is limited data on how private and public sector funding can catalyze the development, improvement, and expansion of these services.
Better data on funding flows will allow funders to (1) understand the current landscape of funding for digital financial services, (2) identify over or under concentrations in funding and (3) assess the funding required to support further development of digital financial services. Additionally, MIX seeks to answer the following:
- What is the volume of funding going to digital financial services?
- What types of funding instruments are used in funding digital financial services?
- What segments of digital financial services is this funding supporting?
- Is funding for digital financial services concentrated in certain countries or regions?
“Funders continue to stress to us the importance of knowing where investment is flowing and where it is not,” said Camilla Nestor, MIX’s CEO. “The expertise our team has gained from similar efforts, including as data partner for CGAP’s Funder Survey and also for CSAF’s State of the Sector, will help us to paint the landscape of DFS funding. With this clear view, funders will be able to see where their investments can have outsized impact.”
If you are a funder and would like to get involved, email firstname.lastname@example.org to learn how you can provide data.
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