"On Thursday last week, the Trampery played host to the “Black In Fintech” launch, hosted by founder Valerie Kontor who is also a product specialist in the fintech space.

The mission and purpose were clear for Kontor - black people have been “short-changed” for too long by a sector built on western traditions of cultural norms, including money management. This has been perpetuated by the lack of representation at the heart of fintech.  

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Hard to disagree.
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A stellar panel topped off the formal part of the event, with Perpetua Gitungo (Wise), Joe Kinvi (Borderless/Hoaq) and Nina Mohanty (Bloom Money).

Kinvi made no bones about the knowledge gap and exclusion around wealth building - and stressed that for the community to advance, it needs to invest.  

Through his micro-investment enterprise Borderless, £4 million has been deployed by an investor group that is 90% Black. Numbers rarely seen in traditional wealth-management platforms.

Mohanty made a point echoed by the rest of the panel, that trust in financial services was low, and so returning to the roots of financial management for underserved groups - like pooling for loans - made sense now more than ever.  
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She also flagged the need for the community to support its founders, who are often asked to do more with less.
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Compliance SME Gitungo set out the known “red flags” that block minorities from the sector including identity poverty and cultural money management behaviours.  

Her solution: be in the product-design ‘room where it happens,’ selecting vendors with inclusion in mind. Building on Kinvi’s point, she commented that financial inclusion was not just a barrier to wealth generation, but it cuts off basic, safe financial access.

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Founders in the room raised frustration with these products and services being seen as social enterprise when it came to funding. The call to arms was clear from Mohanty - building for communities is lucrative not charity so hit them hard with the numbers.

During networking, there was clear agreement on the business opportunity for integrating wider traditions into products and services. However, for some, a downbeat view of whether industry firms are still willing to be true allies, given the tonal shift since 2020...

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As for what they wanted from Black In Fintech, two key themes came through:

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1. “We have to see it to be it"

The group wanted to see more success stories from senior leaders. Those who could inspire and show how success can be achieved.

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2.“Confidence catalysts”

Sharing more about how junior members have navigated themselves into spaces where their voice could be heard at this early point in their career.

This ambition is real and within reach. With more allies joining in, the movement can truly reshape the mainstream. Kontor’s newcomer status adds a refreshing authenticity at the heart of Black In Fintech’s mission - and we’re excited to see what’s next."

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