Wells Fargo, PayPal and Discover have joined together to help provide capital for fintech startups founded by women; in Q3 2018 only 14 percent of VC money globally went to startups founded by women; the drive is in part to help women owned businesses gain access to different types of capital as many think that a small business loan is the only way; Lisa Frazier, head of innovation at Wells Fargo, said in an interview with American Banker, “The challenge is to try to get female founders the confidence, exposure and mentoring to go for it. They have a tendency to think, ‘I’m not going to raise money, I’m just going to take out a small- business loan.” Source.
