A new report by KPMG reveals fintechs founded by women are better investments than their male-founded counterparts.
The UK Fintech Focus report analysed how the gender of those who found fintechs correlates to the success of those start-ups.
It found that those founded by women have double the internal rate of return, compared to fintechs started by men.
However, the results should be taken with a grain of salt as they are slightly skewed by the inclusion of Starling Bank which raised £233 million and was founded by a woman.
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That said, KPMG says the results are interesting especially given the low percentage of fintechs founded by women overall.
KPMG Australia head of high growth ventures Amanda Price said: "This data from the UK reinforces that it is gender bias and workplace imbalance, and not capability or performance, accounts for the lack of female fintech leaders."
She pointed out that in Australia the number of women who found start-ups is very low, and it's even lower when you look exclusively at fintechs.
"Here in Australia, some research suggests the number of female start-up founders is as low as 22%, and according to Fintech Australia, our typical fintech founder is a male in his 40s with a postgraduate degree," Price said.
She went on to note that female fintech founders the report looked at faced a challenging investment environment, which can be seen in their lower first round valuations and the higher amount of equity needed to provide first round investors.
Price said the report should prove encouraging for Australia's start-up sector and offer encouragement to women looking to enter this space.
"Australia's start-up sector should be leading the way in fostering a more diverse eco-system - the will is definitely there. We know women-led businesses are one of the fastest-growing segments of entrepreneurship and all sides of the eco-system, from incubators to investors, have a role to play in confronting bias and encouraging more female founders," she said.