Women in Fintech: Why Closing the Gender Gap Matters

Introduction: A Paradox in Fintech

The fintech industry has been reshaping the world of finance for years. Through apps, digital platforms, and innovative payment solutions, it has made financial services faster, cheaper, and more accessible for millions of people around the world. One challenge fintech continues to face? Closing the gender gap.

In 2024, only 2,3% of the $289 billion invested globally in startups went to all-female founding teams (FMIntelligence). Today, only 17% of fintech C-suite positions and 6% of fintech CEO roles are held by women (FMIntelligence). But as we will explore throughout this article, greater representation creates growth opportunities. When women have more seats at the table, companies benefit from broader perspectives and a better understanding of half of the world’s population.

In this article, we are examining the gender gap in fintech through recent global data and insights from women in leadership positions across Euronet’s Cross-Border Payments segment. By the end, you'll gain a better understanding of how greater representation can support innovation, financial inclusion, and business growth across the fintech sector.

The Gender Gap in Fintech: Where We Stand

The gender gap seen in fintech reflects a broader challenge that exists across many industries. And in many cases, it begins before companies are even built. In 2024, companies founded solely by women received just 1% of total US venture capital (FMIntelligence). This is also true in fintech where female founders often struggle to secure funding. According to a 2025 analysis of PitchBook data, of the $289 billion invested globally in 2024, only 2.3% went to all-female founding teams, while mixed-gender teams received 14.1% and all-male teams 83.6% (FMIntelligence). A study even found that an overwhelming 88% of women founders in the UK start their companies with personal funds and credit cards (Forbes).

In the 2025 edition of their Women in the Workplace report, McKinsey paints a sobering picture: for the 11th consecutive year, women remain underrepresented at every level of the corporate pipeline. The fintech industry is not immune to this trend: only 29% of its overall workforce are women (FMIntelligence).

The same McKinsey report highlights more barriers: across industries, women tend to receive less career support than men. For example, at entry-level, women are around half as likely as men at their level to have multiple sponsors or a sponsor in a senior role. Sponsors are colleagues who support an employee by checking in on them, advocating for their work, giving them strategic projects, and being transparent about what it takes to climb the ladder. More than support, sponsors also help with promotions: employees with sponsors are promoted at nearly twice the rate of those without.

Expanding sponsorship and mentorship initiatives would create opportunities to help women progress into leadership positions. Indeed, according to the same report and across different industries, women are especially underrepresented in senior leadership where they hold just 29% of C-suite roles. In the fintech industry, this percentage drops to only 17%. We also count that only 11% of board seats are occupied by women, and only 6% of fintech CEOs are women (FMIntelligence). McKinsey also notes that women in leadership receive less consistent support from their manager and are less likely to receive training opportunities.

So why does this gap persist? One possible explanation lies in cognitive biases. Cognitive bias refers to the unconscious assumptions and stereotypes that shape how we perceive and evaluate others. In the workplace, these biases can influence who is seen as leadership material, who receives opportunities, and whose ideas are taken seriously.

Greater representation across the fintech pipeline creates opportunities at every stage, from funding and hiring to product development and leadership. Bringing more women into the industry isn't just about diversity. It also expands the range of perspectives shaping the financial products and services people use every day.

Why Women Need a Seat at the Table

Unlocking Financial Inclusion for Women

Did you know that about 700 million women worldwide still do not have a financial account (WorldBank)? Without one, accessing financial services, saving money more securely, or building financial resilience becomes far more difficult. So, what is the first step? For many, payments are the entry point to financial systems as they are the most widely used financial service, and they are often the reason why women open accounts in the first place. The data is clear: half of all women account holders opened their first account to receive a wage or a government payment (WorldBank). Once women own accounts, they can unlock access to financial products: the latest round of the Global Findex finds that, across low- and middle-income countries, more women are using accounts to save formally (36% in 2024) and make or receive digital payments (58%), including making digital merchant payments (38%) (WorldBank).

Fintech is already helping overcome some of the barriers women face when accessing financial services. Digital wallets help women gain financial autonomy, remittances provide women with direct control over household finances, cross-border payments support female entrepreneurs and migrant women, mobile money reduces dependence on cash and intermediaries. The World Bank is clear on this subject: “Mobile connectivity and digital accounts can help overcome the barriers of cost and distance.”

As the industry continues to evolve, opportunities remain to further broaden representation across the sector. With fintech companies designing products for increasingly diverse users, ensuring that women are represented in product, leadership, and decision-making roles can bring valuable perspectives to the table.

Designing With Women, For Women 

In McKinsey’s 2025 edition of Women in the Workplace, employees overwhelmingly see the benefits of a fair and inclusive workspace: 91% of women and 90% of men agree that a variety of perspectives leads to better decision-making and outcomes. Diverse teams build more relevant, inclusive, and trusted products. Sarah Bernhardi, Chief Strategy Officer at XE agrees: “Healthy gender representation will always yield good outcomes for products, services and organizations,” she says. “Build with women in the room, not just as a customer segment you’re designing for after the fact.” For Taylor Kwan, Chief Operating Officer – Digital at Ria, it’s clear: “As women, we understand what our female customers want because we are them, that insight is invaluable and it’s lost when women aren’t at the table.” Sarah Bernhardi provides a great example: “There are some gaps [in fintech products and services today]: for example, credit scoring still leans on data patterns like steady, linear income that maps better to men’s financial lives than women’s, especially where career breaks are involved." 

Better products are only one part of the story. For fintech companies, greater gender diversity is not just an inclusion opportunity, it is also a business one. By bringing more perspectives into decision-making and product development, companies can better serve a vast and often underserved customer segment while strengthening their performance. 

Looking Ahead 

A Growing Market Opportunity 

Fintech products and services designed for women represent a significant growth opportunity for the industry. Around 80% of women in developing economies already own a mobile phone, creating a strong foundation for expanding access to digital financial services. The opportunity is particularly visible in Sub-Saharan Africa. Women represent roughly half of the region's population, or nearly 663 million people in 2025 (World Bank). And yet, they remain 12 percentage points less likely than men to have a financial account, despite being just as likely to exclusively own a mobile money account. In other words, the demand is there, but significant barriers remain. For fintech companies, this represents a largely untapped customer segment. By designing products that better reflect women's realities and financial needs, companies have an opportunity to reach millions of new users while advancing financial inclusion. 

When Diversity Leads to Business Growth 

The benefits extend far beyond customer acquisition. Ensuring that women have a seat at the table when financial products are designed can lead to better outcomes for both users and businesses. The numbers are there: companies with more diversity in leadership are 21% more likely to be profitable (Forbes) and female founders generate more revenue than men (FMIntelligence). Forbes even notes that, in 2024, U.K. firms with female founders achieved 30% greater revenue growth compared to other fintechs. The economic opportunity is substantial. The World Economic Forum estimates that closing the gender gap in financial services could unlock as much as $700 billion in new value and FMIntelligence notes that closing gender gaps could add between $7 trillion and $28 trillion to global GDP. 

From Inclusion to Impact 

Fintech has transformed the way money moves around the world. The next challenge is ensuring that the people shaping that transformation reflect the diversity of the people it is meant to serve. 

Closing the gender gap is not simply a matter of fairness. It is an opportunity to build better products, reach underserved communities, drive financial inclusion, and unlock business growth. As the industry continues to evolve, the companies that listen to different voices will be best positioned to innovate and grow. 

So what is the plan?  
Maria Adriana Colella, Global Comms & PR Director at Ria, advocates for “diversity programs and equal-opportunity policies throughout all departments.” “From talent acquisition, to onboarding, to career development programs, all the way to product development and IT projects, diversity needs to be one of the priorities,” she explains. “[We need to] invest in educational programs and training programs so that young women have the opportunity and acquire the necessary knowledge and curiosity to join this industry.”  
For Katya Bachl-Cohen, Global Head of Marketing at Dandelion, the key is creating an environment where women feel supported at every stage of their careers, from navigating major life milestones such as childbirth and parental leave to accessing mentorship and guidance from senior women leaders.  
Fernanda Mendes Martinez Gonzalez, EMEA Marketing Director at Ria, highlights the importance of sponsorship and support in helping more women progress into strategic roles across the industry. “The same way I got real support to grow into mine,” she says. According to her, closing the gender gap in fintech matters because “seeing women in leadership positions is what makes the next generation believe it's possible for them too.” 
For Taylor Kwan, the business case is clear: “Closing the gender gap in fintech matters because we represent half of the market — and you can't build products for half your customers without them at the table.” 

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