Verto, a global fintech company delivering enterprise-level cross-border payments, FX, and banking solutions across emerging markets, has won the Grand Prize in the Milken-Motsepe Prize in FinTech. The $1 million award was announced on May 5 at the Milken Institute Global Conference in Los Angeles.
The Milken-Motsepe Prize in FinTech is a $2 million global competition launched by the Milken Institute and the Motsepe Foundation to reward financial innovations that expand access to capital and services for small businesses in underserved regions. Verto’s platform stood out for enabling businesses in emerging markets to send and receive cross-border payments seamlessly—including in exotic currencies—while eliminating costly intermediaries and supporting transactions in 49 currencies.
By delivering rapid settlement in regions where such financial infrastructure was previously unavailable, Verto is advancing financial inclusion and unlocking new economic opportunities for SMEs.
The prize attracted over 3,000 applicants from 126 countries. After a rigorous multi-stage review, which evaluated solutions based on affordability, accessibility, ethical standards, scalability, and technological innovation, Verto was selected as the winner. The competition narrowed 400 applications down to 10 semifinalists, who pitched their solutions at the Milken Institute Middle East and Africa Summit in Abu Dhabi in December 2024. From there, three finalists were chosen, with Verto ultimately taking the top prize.
“Winning the Milken-Motsepe Prize in FinTech validates our mission to break down barriers in cross-border payments but also provides us with the resources and recognition to accelerate our efforts in empowering businesses across emerging markets. It is a testament to the hard work and dedication of the entire Verto team,” says Verto CEO Ola Oyetayo.
Dr. Precious Moloi-Motsepe, co-founder and CEO of the Motsepe Foundation, commented, “Across the African continent, technology and innovation are disrupting traditional finance and banking approaches. Investment in this space is profitable and, more importantly, necessary for financial inclusion. My heartfelt congratulations to the winners and all the finalists for demonstrating feasible and impactful solutions that will drive economic activity and shared prosperity in the global South while influencing the financial sector all over the world.”
The recognition marks the third major award in the Milken–Motsepe Innovation Prize Program, which has distributed more than $6 million to over 50 innovators since its inception in 2021. Collectively, participating teams have gone on to raise nearly ten times the prize amount in follow-on investments, with solutions reaching over 530,000 people globally.
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