How Fintech Firms can Support the Growth of Women Led Businesses?

Women Led Businesses

It has been stated that women-led businesses, bring in more profit and fewer failed loans with a fintech firm’s support when compared with male-led businesses. From saving small amounts of personal money to adversely managing the household income to running smooth businesses, women have been making their way through for many centuries now. Therefore, women entrepreneurs have been naturally more trustworthy in regard to financial services.

Women Led Businesses Supported by Fintech Firms

The financial gap becomes a crucial pain point for the women-led business, hence, the fintech system not only provides the edge but also meets several non-financial needs that need to be addressed.  

Let us, deep-dive, into how fintech firms can support women led businesses:

  1. Transforming women led businesses to data-driven firms
    One of the biggest barriers to financial institutions supporting women entrepreneurs is the lack of reliable data which is segregated by gender.
    While the government and formal financial institutions have launched certain schemes to meet the requirements of the women entrepreneurs, who lack awareness and networking, especially in the rural areas have limited the impact of the facilities.
    Here, fintech firms provide custom-built API-based platforms that can access numerous sources of data and can analyze those through several data points, which makes it easier for lenders.
    Fintech systems are a boost that rapidly calculates creditworthiness and thus leads to hassle-free and quick credit options. 
  2. Foster diversity by Turning traditional into digital
    Fintech offers solutions for SMEs which manage the financial services on one single platform and boosts their independence to cater to all the problems. This saves a lot of time for Small Businesses and leverages monetary terms that help you to grow.
  3. Turning traditional to digital
    With the help of digital channels, there has been a steady rise in women-led companies. They are useful as they support the total system with various networking opportunities, building trust, providing guidance, and availing of short-term loans.
    For many decades now, it has been observed that women are especially dependent on the non-systematic or the unorganized way of fetching out financial services. But now a digital makeover has allowed them to function more efficiently at a lower cost with the help of such a hybrid setup. Hylobiz is one of the top financial services providers which support women entrepreneurs in an easier way throughout their business journey.
  4. Financial Planning and Accountancy
    By setting up in-house mentor panels, fintech can help the women in business to forecast short-term cash flow, negative cash flow trends, unplanned or unexpected expenses, liquidity crunch, invoicing, managing payments, etc.
  5. Improved financial inclusion:
    Nowadays, voice-based banking plus solutions allow people who don’t have a technical background to operate all kinds of businesses smoothly. Fintech companies facilitate quick and accessible credit without much complexity or queries. These services provided by the fintech, reduce the time required to complete each and every process.
  6. Making the financial services inclusive
    The issues faced by most women entrepreneurs and their social roots require some clarification or built-in filters that will help product development and marketing to better address the need of women led startups across the geographies.

    Here are some of the socio-cultural biases which are required to be lifted so that women can easily enter financial markets:
  • Removing requirements of male signatures while applying for financial services/loans
  • Focus on multilingual and multimedia support for applications
  • More number of women staff must be kept in institutions
  • Women entrepreneurs can take better decisions only if they are provided with the required knowledge

The fintech firms play a major role as it promotes women-led businesses both at the micro and macro levels. These firms understand the challenges faced by these women and help them to execute their ideas promptly. Hence, by providing lifelong support, the fintech firms inclusively address business issues that women are often deprived of.

The hylobiz-fintech firm which supports businesses

Hylobiz is a fintech working broadly in India and UAE which improvises and helps out businesses in the B2B segment. Our neobank has more than 2500 customers who boarded with us. We also facilitate SMEs and all other kinds of businesses to implement their present ERP integration tools with our services.

Top Hylobiz features:

  • Digitalization
  • All-in-one Automation Solutions 
  • Faster collection with payment links and automated reminders 
  • ISO certified 
  • Easy payouts 
  • Collateral-free loans are partnered with Connected banking Services
  • Cash flow transparency and auto reconciliation   
  • Hassle-free usage 
  • Real-time automated invoices and management of inventory  
  • Pre-approved credit cards

Hylobiz backing up Women led businesses:

Hylobiz always believes in the willpower and strength of every woman in this era or environment. 

All the professionals working at Hylobiz (that is a digital journey), are always encouraged to believe and follow their interests and passion. Women present in Hylobiz are breaking the stereotypical environment with a supportive environment that not only helps in their personal but also in their professional life. 

Here, we would love to have more women share their experiences and contribute to us. 

We are now offering extra SMS and WhatsApp credits exclusively to female entrepreneurs’ finance initiatives to send out payment reminders and communicate easily with clients. You can now create and start to build a good relationship with your clients.

We encourage you to #breakthebiaseveryday

Then why wait? Grab the offer now! 

We here encourage everyone to work as a team. Any business can refer to a women entrepreneurial business to Hylobiz and inculcate the very possibility with us.

Read about important tips for women entrepreneurs:

Read More:

Interested? Write to us here:

Contact us:

Scroll to Top