5 financial apps supporting women-led businesses
By Leandra Monteiro
With increased awareness of women’s roles and economic standing in society, a greater number of women are unleashing their inner entrepreneurial potential. In the recent past, we have seen a rise in women entrepreneurs owning and running successful businesses, even from the Tier 2, Tier 3 cities in India.
However, there are several women entrepreneurs who face a credit crunch that deters them from starting their own business ventures. In order to promote and support female entrepreneurs’ businesses there are platforms that provide instant personal loans starting from as little as ₹500 to up to ₹30,000. Any woman can secure such loans within seconds and fulfill their entrepreneurship dreams in a seamless and worry-free way. There are also apps that educate and advise women on financial matters, empowering them and making them financially independent.
Here are 5 finance apps helping women entrepreneurs:
mPokket is an instant loan platform that grants hassle-free loans to individuals from INR 500 to 30,000, without involving any collaterals. mPokket is the perfect financial app for promoting women’s empowerment. Any woman can get an instant loan and use it to start their own business or to meet business expenses.
Applying for loans in banks or financial institutions can be lengthy and cumbersome. With mPokket, the entire process of applying for a loan is available on the mobile phone. The loan application process is paperless and simple, and loans get approved in minutes.
Based in Bengaluru, Basis helps women to become financially savvy and achieve their financial goals by organising educational webinars and lessons in finance. It also gives personalised investment advice, tailored around specific goals. The app includes a knowledge boosters’ section that explains financial jargon; an advisory section that offers tools to manage mutual fund investments and calculate other capital needs, and finally, a community section that allows users to share their experiences, learnings, and clear doubts.
Exclusively meant for women, LXME aims to bridge the financial knowledge and accessibility gap for women to make their own decisions, through the LXME website and mobile application. It educates women on financial instruments, such as mutual funds, stocks, and bonds, and creates a community of women to engage them in conversations around their finances.
- Miss Piggy Bank
It is a not-for-profit user-centric finance platform focused on women seeking financial advice. Through blogs and Instagram, the platform simplifies financial advice and connects users with financial advisors/planners who are credible and curated. Users can book appointments, get the guidance, and get matched to the right advisors.
This Delhi-based organisation aims to bring gender diversity into private equity by involving women. It engages with investment firms, decision-makers, employers, and influencers to drive positive action in favour of gender diversity. It also empowers women by helping them with networking, mentorship, leadership training, and encouraging women’s participation through outreach and career-related conversations.
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