Flutterwave Co-founder, Iyinoluwa Aboyeji, has made his desire known to financially support 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 account that he is willing to provide funds for concessionary loans, which will be approved for women-owned businesses.
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?
— E (@iaboyeji) March 25, 2021
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.
Flutterwave 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.