A stark reminder of the lack of diversity at fintech's highest levels.
After spending the Summer calculating our inaugural Powerlist 50, AltFi came to a worrying realisation—women comprise just under 25% of the players on the list.
Our methodology included calculating financial firepower, social reach and the number of customers and staff each person is responsible for. For many reasons, men in fintech still outperform women on these factors.
The realisation nearly led us to scrap publishing this list entirely, abandon our methodology, or move to an editorially-chosen ranking.
However, we believe that it’s only by recognising the shortfallings and current lack of diversity in fintech and alternative finance that we can start making positive changes.
While women continue to be underrepresented in our industry, making up just 29% of employees and 17% of executives [UK fintech: State of the Nation 2019], the AltFi Powerlist 50 will be a stark reminder of the work we still need to do.
"In terms of venture capital, financial firepower will not move towards women until those who really hold influence begin to mandate that VC funds invest their capital, and build their teams, in a truly inclusive manner,” said Diversity VC’s Co-Founder Check Warner, addressing the launch of AltFi’s Powerlist 50.
“The Limited Partners need to start holding VCs to account, and insisting the VCs report on diversity and inclusion, rather than just on financial returns."
We wholeheartedly agree, and in the years ahead we hope the names on the AltFi Powerlist 50 will shift to reflect the positive changes made to rebalance our industry.