Mercy Corps Ventures (MCV), the impact investing part of the international humanitarian organisation Mercy Corps, will receive a $1 million grant from Binance Charity, the charitable arm of Binance, the top cryptocurrency exchange in the world. Up to five high-potential start-ups will utilise the funds as investment capital to advance ethical fintech and Web3 solutions that support financial inclusion and resilience for disadvantaged and low-income people.
By the provision of access to money, technical support, and business development help, the partnership between Binance and MCV intends to provide crucial support to start-ups in developing markets.
MCV has so far made investments in 43 early-stage businesses, assisting them in growing and securing approximately $396.7 million in further funding. Its portfolio, which is 49% female-founded, focuses on resilience-building solutions in inclusive fintech, climate-smart technology, and adaptive agricultural and food systems. This enables people in frontier markets to prepare for the future and adjust to upheaval.
With ethical and cutting-edge digital solutions, the cooperation between Binance Charity and MCV seeks to improve financial inclusion and spur good change in developing economies.
The $1 million gift from Binance Charity will benefit MCV’s seed and early-stage venture capital fund in particular. The Crypto For Good Fund, which provides money to mission-driven social companies using Web3 technology to address urgent global concerns, is also managed by MCV.
With an emphasis on issues including credit access for unbanked users, climate resilience, the delivery of humanitarian goods, transparent supply chains, and crypto-enabled wallets for underserved consumers, this year’s fund attracted 200 applications from 50 different nations. Funding, mentoring possibilities, impact measurement advice, access to collaboration opportunities, knowledge sharing, and brand exposure will be given to successful candidates.
