Village Capital has announced that the deadline for applications for Finance Forward Europe 2020 - an investment-readiness program for early-stage FinTechs from the European Union and neighbouring countries - has been extended to accommodate startups working on COVID-19 solutions.

The focus for the program is on startups that are building tech solutions for the nearly 40 million Europeans locked out of basic financial services, as well as tools for small businesses.

"The COVID-19 crisis has had a profound impact across all aspects of our society - including the financial health of people and businesses across Europe," said Allie Burns, chief executive of Village Capital.

"As people lose jobs, dig into their nest eggs and fight to keep businesses from shuttering, we need innovation more than ever in building solutions that help people save money, find work and access financial services," she continued. "We're extending recruitment for financial health startups to ensure that startups that are actively responding to the pandemic have an adequate amount of time to finish applications"

A total of 12 financial health-focused startups will be selected to participate, if circumstances permit, in two workshops in Dublin and Berlin in mid-late 2020. Otherwise, the workshops will be conducted virtually.

Participating startups will get eight days of training, with a focus on improving investment readiness and growing their businesses. Each company will work closely with industry experts, investors and ecosystem partners to develop the networks they need to scale their impact.

The top peer-selected companies will be eligible to receive a total of $150,000 in grant funding from MetLife Foundation, divided between the winners.

The program is a part of Finance Forward, a multi-year global coalition led by founding partners MetLife Foundation and PayPal to support entrepreneurs on four continents who are building tech-enabled solutions to place-based challenges around financial health.

All startups that apply to the program will be invited to join Abaca, Village Capital’s global online network that helps entrepreneurs articulate how ready they are for investment, and matches them with the right investors and resources.

Applications now close on 25 April.

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