MiKashBoks, a digital social finance platform has emerged second place at the 2022 Massachusetts Institute of Technology (MIT) Sloan Fintech Conference’s “Global Start-up Pitch Competition.”
According to a press statement by the company, Salton Massally, the chief technology officer and Rachel Chang, the chief product officer, two minute pitch on digitizing informal financial transactions made them win the award.
“Their presentation focused on the Mabula Women’s Group in Bombali, Sierra Leone, a community of 50 women in rural Sierra Leone who have ‘saved and lent’ together for a generation. Tens of thousands of transactions, but their financial lives are invisible outside of their group,” the company stated.
It added that in addition to the work in rural Sierra Leone, MiKashBoks has made inroads in Nigeria, as a fintech solution for Village Savings and Loans Associations (VSLA) in the South-Western Region with ongoing level deliberations with Local and International Partners to deploy across the country.
Read also: Can you gain financial independence through online trading?
“This has been made possible with our partnership with Rindev Consulting. Our work with these groups was demonstrated to the audience at MIT Sloan, especially the potency of the Mikashboks digital solution as a transformative platform for the financially excluded worldwide,” the company concluded.
In addition to emerging as first runner up at the competition, MiKashBoks was also awarded the Audience Choice prize, through an independent voting exercise from a room of financial technology experts, and other players within the ecosystem.
This feedback, connections and validation represent an important milestone for MikashBoks as they ramp up their global deployment efforts and move towards their first 100,000 users.
“Our mission is to transform the financial experiences of the last billion, being the platform that people trust to achieve their financial goals together,’ the company said.
