Best Business Model & Overall Award Winner = AIRFOX
From a selection of 300+ entries and 50 pitches, Airfox was announced overall winner of the CODE_n contest. The competition is aimed to identify and promote the most promising startups from around the world, looking for "Business concepts for the digital future".
Nearly 4 billion people globally are considered unbanked or underbanked. Yet, two-thirds of unbanked adults have mobile phones.
Financial exclusion means high costs, long distances & lengthy lines.
Personal financing is most expensive for the poor: 27% of the lower-class spend over half of their income on financial products.
Airfox is building a mobile financial ecosystem for the underbanked, working to break down the financial barriers that exist in Brazil.