Still in the spirit of International Women’s Day and celebrating inspiring women in finance, we decided to feature Solape Akinpelu, the CEO of HerVest, a fintech company pioneering inclusive finance for African women. Solape shared her insights on thriving and making a name for yourself as a female in the finance industry, a male-dominated field, using her experience as an example.

Solape Akinpelu’s journey exemplifies resilience and innovation in navigating the male-dominated landscape of finance. As the CEO of HerVest, she not only leads a groundbreaking fintech initiative but also embodies the ethos of empowering African women economically. Solape’s determination to break barriers and foster inclusivity serves as a beacon for aspiring female professionals in finance. Through her leadership and vision, she inspires a new generation of women to pursue their ambitions fearlessly, demonstrating that gender should never be a limitation in achieving success in any industry. Her story highlights the importance of representation in creating a more equitable and diverse financial ecosystem.

Can you tell us about a specific instance where you had to overcome a stereotype or challenge related to your gender while building your name in the finance industry? How did you use that experience to further empower yourself and also inspire others?

I always say the financial services were made for people and not for women and this is evident in the bottom-up structure from leadership to participation. I knew it wasn’t going to be easy from the get-go. I mean we are still celebrating first female bank managers in 2024. I however underestimated the stereotyping and challenges when it came to raising funds for my company HerVest.

Traditionally, when it comes to credit, women are not high-interest groups for traditional banking institutions. Access to finance is a big issue. While male founders were raising seed rounds for their companies in 2020, 2021, and 2022, we could count blindfolded how many female founders were backed by investors. Statistics show that women raised only 2% of VC funding in 2021.

To overcome this challenge, I had to work on my pitching skills and develop a confident presence and personal agency. I sought constructive feedback after pitches. I sought guidance from successful female entrepreneurs who had gone through similar experiences and learned valuable strategies to navigate the fundraising landscape. I also focused on building strong relationships with potential investors, showcasing my expertise, and highlighting the unique perspective and value that being a female founder brings to the table.

Through this experience, I learned the importance of resilience and determination in the face of gender stereotypes in the finance industry. I used this setback as an opportunity to further empower myself by honing my pitching skills, refining my business strategy, and staying true to my vision. I actively participated in panels, workshops, and networking events to raise awareness about the challenges women face in fundraising and to provide guidance on overcoming these obstacles.

By sharing my story and experiences, I aimed to empower other women to break barriers, challenge stereotypes, and succeed in the finance industry as entrepreneurs.

HerVest primarily focuses on providing women smallholder farmers with credit for their agribusinesses. This March, we expanded our credit services to WSMEs in the country.

Our goal is to close the $42bn gender finance gap in Africa with over 15.6bn trapped in agriculture. We resonate with the financing struggle and are positioned to help female entrepreneurs scale this hurdle.

Many women in male-dominated fields have unique stories of forging their own paths and building their reputations. What steps did you take to stand out and become recognized for your expertise, and how did you find your voice amidst established figures in the industry?

First, I’d say continuous learning was key. I made sure to stay updated with the trends and advancements in my field by attending workshops, and conferences, and pursuing relevant certifications. I am a certified Personal Finance Coach from the National Financial Educator’s Council in America.

Secondly was being intentional about my network. This is my greatest asset. I always say that you are as wealthy as the people you know. There is no one too big or small that I can’t talk to maintain a valuable and healthy relationship with. I actively networked with professionals in my industry, both men and women and sought mentorship from established figures.

Additionally, I showcased my expertise by regularly publishing articles, giving presentations at conferences, and participating in panel discussions to showcase my knowledge in the field.

Lastly, I’d say I embraced my unique perspective as a woman in a male-dominated field and used it to my advantage to bring fresh insights and ideas to the table.

Looking back on your career journey, what advice would you give to younger women starting a career in the financial industry who aspire to make a name for themselves?

I’d say put in the work. Nothing good comes without discipline and diligence. Network horizontally and vertically. Volunteer at relatable industry events. Attend conferences. Technology has made it easier to connect with almost anybody. Additionally, try to build diverse experiences across the financial sector. Find out what ticks in insurance, wealth management, pensions, fintech and so on. Lastly and importantly, be impact-oriented on your job. Working in financial services is more than a role. It affects lives and has a ripple effect on nations and economies. So back it up with a bigger purpose. Be intentional. Be committed.