The first global benchmark of gender diversity in FinTech has revealed systemic underrepresentation of women.

The research from think tank findexable, found that only 1.5 per cent of the 1,000 best funded private FinTech firms around the world are founded solely by women and receive just 1 per cent of total FinTech venture funding.

The study reveals women make up 11 per cent of all board members and 19 per cent of company executives.

Asia has the highest proportion of female founders at 7.7 per cent, followed closely by Africa at 7.4 per cent – this compares to North America at 4.8 per cent and Europe at 6.5 per cent.

Africa has the highest proportion of female board members at nearly 15 per cent. Africa and the Middle East are the leading regions for the proportion of female chief executives, according to the report,

“While the research paints a disappointing picture of FinTech’s performance at building an industry that reflects the real world, this research should be viewed as a line in the sand,” said Denise Gee, co-founder, findexable. “From today all of us – from government to regulators, ecosystems and financial services firms of all sizes – need to ‘dig in’ (not lean in) to make the case and accelerate the progress of women and diverse teams.”

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