The Power of Diverse Leadership in Fintech
Diverse leadership in any sector is not just a buzzword; it’s a catalyst for innovation and economic growth. A recent report by Findexable, titled the Diversity For Growth report 2021, highlights a striking disparity in revenue generation between women-founded and male-founded fintech companies. Women-founded fintechs generate 78 cents for every dollar of funding they receive, while their male counterparts only manage to generate 31 cents. Despite this stark difference in performance, male-founded fintechs continue to attract twice as much investment globally compared to female-led ventures. This imbalance underscores the urgent need for a shift in investment strategies and a greater focus on supporting women entrepreneurs.
In Southeast Europe, particularly in Bulgaria, Romania, and Greece, a wave of female fintech founders is emerging, each contributing unique solutions to the financial sector. This article shines a spotlight on these trailblazers, showcasing their innovative business models across various niches, including payments, open banking, real estate, and blockchain.
Female Fintech Founders from Bulgaria
Anita Stoeva, Co-Founder and COO/CEO of FidU Trade
Vertical: SMEs Accounting
Founded in 2020, FidU Trade is a digital platform designed to assist small and medium-sized business exporters in Western Europe with managing their receivables and assessing credit risk. Backed by Vitosha Venture Partners, FidU Trade is revolutionizing how SMEs handle their finances.
Antonina Martinova, Co-Founder of Phos, CEO of Paynetics
Vertical: Digital Payments
Phos, established in 2018, is a fintech startup that has partnered with Paynetics to create a Software Point of Sale solution. This innovative technology allows merchants to accept card payments directly on their NFC-enabled phones or Android devices, eliminating the need for additional hardware.
Galya Dimitrova, Co-Founder and Managing Partner of Iris Solutions
Vertical: Open Banking
Iris Solutions is a licensed financial services company that develops fintech solutions aimed at creating a secure environment for businesses and their customers. The company offers payment services, account aggregation, API monitoring, and data analysis, all designed to enhance financial accessibility.
Galia Jordanova, Founder of Musketari.bg
Vertical: Real Estate
Musketari.bg is a fintech platform that assists users in securing financing for real estate purchases. The platform provides expert consultations, helps users choose the best mortgage offers, and offers legal advice, making the home-buying process more accessible.
Kremena Stoyanova, Founder of Elca.bg
Vertical: Personal Expense Management
Elca.bg enables users to compare prices of different energy providers, helping both commercial and private users make informed decisions about their energy expenses. The platform is funded by Vitosha Venture Partners and leverages publicly available information.
Sonya Bonova, Co-Founder and CEO of Rilla
Vertical: Personal Finances, Insurance
Rilla is a mobile application that simplifies personal finance management. Users can open a free IBAN account, manage their money, pay bills, find insurance, and obtain credit—all without incurring opening or maintenance fees.
Female Fintech Founders from Romania
Alina Stefan, Co-Founder and CEO of Salarium Fintech
Vertical: Income and Expense Management
Salarium Fintech is a mobile application that allows employees of medium and large companies to request salary advances without fees or interest. The app also educates users on managing their finances and setting financial goals.
Ana-Maria Georgescu and Mihaela Georgescu, Co-Founders of Smart Fintech
Vertical: Open Banking
Smart Fintech is the first fintech company in Romania authorized by the National Bank of Romania. It focuses on delivering open-banking solutions, providing third-party access to financial data for individuals and businesses.
Annemarie Fabian, Co-Founder of SOLO
Vertical: SMEs Accounting
SOLO is a B2B platform that streamlines administrative tasks related to billing, accounting, and online filing. It helps businesses track expenses, issue invoices, and manage taxes efficiently.
Diana Drajneanu, Co-Founder and CTO of Vestinda
Vertical: Crypto, Investments
Vestinda offers an investment dashboard that aggregates users’ crypto accounts, allowing for automated investing. The platform also provides educational resources for beginner traders to make informed decisions.
Diana Seredenciuc, Co-Founder of Bankata
Vertical: Personal Finance
Founded in 2020, Bankata aggregates and compares financial products, helping users analyze personal loans, credit card scores, and mortgages to make better financial choices.
Ioana Hasan, Co-Founder and Product Manager of SmartBill
Vertical: SMEs Accounting
SmartBill is a SaaS solution that provides invoice software for small businesses, offering features like billing options, inventory management, and accounting tools to streamline operations.
Irina Albita and Maria Tanjala, Founders and CEOs of FilmChain
Vertical: Blockchain
FilmChain is a cloud-based collection system that serves the creative industries by optimizing revenue collection and management processes using blockchain technology.
Maria Patrascoiu, Co-Founder and CEO of Zanumi
Vertical: Accounting
Zanumi automates accounting and financial reporting, allowing users to customize reports and streamline annual budget preparations through its cloud-based platform.
Female Fintech Founders from Greece
Chryssi Chorafa, Founder and CEO of StarLiX
Vertical: Tokenized Payments
StarLiX is a digital platform focused on compliance and tokenized payments, aiming to facilitate low-cost cross-border transactions while adhering to regulatory standards.
Efi Pylarinou, Founder of Efi Pylarinou Advisory
Vertical: Fintech, Blockchain
Efi provides independent advisory services in fintech and blockchain, specializing in capital markets and asset management transformations. With a PhD in Finance, she is a recognized speaker and thought leader in the industry.
Ioanna Stanegloudi, Co-Founder and CRO of Finclude
Vertical: Retail Credit
Finclude aggregates and interprets transactional data to enhance credit decisions, providing fair access to credit for individuals and financial institutions across the EU.
These remarkable women are not just breaking barriers; they are reshaping the fintech landscape in Southeast Europe. Their innovative solutions and leadership are paving the way for a more inclusive and prosperous financial future.