Women Rising to the Challenge

Did you know that Rise is one of the few FinTech companies globally with more women customers than male? Neither did we! We asked their founder, Padmini Gupta, and here’s what she had to say.

Talk to us about your startup and what you are currently working.Launched in 2017, Rise is the Middle East’s first FinTech company with the sole purpose of empowering migrant workers with financial freedom – helping them gain access to essential financial services like insurance, investments and credit, across both their home and host country via one platform. Our aim is to empower 250 million migrants across the globe and their dependents to build a better future.  

What did you do before becoming an entrepreneur? What inspired you to switch?I started my career in the banking industry in the 1990’s in California, where I was running a $200 million+ portfolio in commercial banking. I was one of the early pioneers in bringing financial products to women and minority-led businesses. I was awarded the US Small Business Administration’s Best Banker Award twice, had a seat on the Banker’s Board of Accion and was a part of the San Diego City Redevelopment Task Force. 

Before starting Rise, I moved on from the banking world to pursue a Master’s degree at Oxford and joined the World Economic Forum as a Global Leadership Fellow, working with global public and private sector leaders on topics of urban mobility, smart cities and climate change. 

I’ve always been an advocate for society’s ignored voices and a believer in the importance of achieving financial independence. As a citizen of the world myself who has lived and worked in more than 10 different countries, I am passionate about redefining migrant banking and helping build a more equitable and sustainable future for the migrant community. 

Rise allows me to use my financial expertise to feed my desire for global impact.  

How do you see female entrepreneurship in Abu Dhabi’s startup ecosystem?There is a noticeable uptake in female entrepreneurs – it’s remarkable to see many different women starting companies to offer solutions to problems they’ve identified. I’m confident the Abu Dhabi ecosystem will serve as the platform they need to thrive, allowing for both creative growth and support with mentorship and investments.  

What was it that attracted you most about Hub71?
The diverse companies that are part of Hub71’s community, the network of leaders available for mentorship and guidance, and the Hub71 Incentive Program. 

How has Hub71 added value to the growth of your company?Being part of the Hub71 community has given me the opportunity to hear from global and local leaders, the exposure to which has added value to our plans for growth and collaboration. We have become part of a collaborative startup network, allowing us to learn from other founders and learn from their challenges and successes. And of course, Hub71’s Incentive Program has been incredibly helpful.  

What is one interesting fact, statistic, or figure, related to your business that no one knows?We are probable one of the few, if not the only FinTech company in the world with more woman customers than male.  

What sets you apart from other startups in your sector?We are solving a global challenge and leading the charge in building a unique global migrant financial services product. 

Describe being an entrepreneur in one word.Exhilarating.  

What would you say is your best personality attribute that contributes to your success as a founder?Determination – succeeding is not always easy, but the more you keep working on the problem at hand, the likelier you are to push the boundaries and reach what you’re striving for. 

How can we encourage more females to become entrepreneurs?
I believe women are more inspired to become business-starters now than ever before. Entrepreneurship allows us a platform for success that many corporate jobs don’t have. To cultivate a movement of female founders, we have to start investing in them, both with time and capital – sometimes, you just need to level the playing field in order to see more women thrive.