Bixie: One to watch
Bixie was the brainchild of Rosalia after a career spent working with women around the world with the United Nations.
“I was going from crisis setting to crisis setting and giving away money and not seeing it make the type of transformative change one would expect when pouring billions of dollars into a problem. I knew there had to be a better way to lift women up… because I did it.”
Born in the US to Filipino and Kenyan migrant parents, Rosalia knew early on that she had to figure out a way to make a living but more importantly realize her dreams of bringing positive change to the world.
“It was sink or swim for me. I was orphaned at 14 years old and had $200 in my pocket and a stuffed animal.” I marvel at what I’ve been able to achieve since then and it is all thanks to one critical investment decision my mother made before she died.”
This modest investment was a life insurance plan that enabled Rosalia to get a world-class education, which then led to global career opportunities in law, global policy, and FinTech.
“I’ve since been empowered to become a social entrepreneur with enough money and assets to work only on the things I love. I want women all over the world to taste financial freedom because, frankly, it’s delicious.”
With the know-how and experience to help women realize their dreams and potential, Rosalia and her team set about researching the unique behavioural traits of women vis-a-vis money, including:
- Women don’t invest because they lack confidence and they lack confidence because they lack knowledge
- Women are betters savers than investors and we tend to save our money in cash (over 70% of us)
- Women’s emotional reaction to money is anxiety, whereas men experience shame
- Women prefer to make money decisions with other women, notably those who have been in a similar situation as us who can offer advice; robots and financial experts are not welcome.
After 8 months of research with their in-house gender economist, the company is now developing its MVP to test in the market.
“We’re starting in the Philippines, because of its high smartphone penetration, hardworking female workforce, and our network of partnerships on the ground”.
With a coterie of female investors and teammates on her side, Bixie is the company to watch in Southeast Asia. Women-led, women funded, and women focused: the company is banking that the future of finance is women.