Y Combinator backed Grey Launches $10K Grant for Women Founders

• UpGreyedHer, an initiative by Grey designed to empower female entrepreneurs opens applications
• UpGreyedHer offers $10K equity-free funding to support women entrepreneurs
• Program’s previous season awarded $17,500 to women entrepreneurs

Growth is often difficult for women entrepreneurs in many developing countries because they fall back in obtaining financing, even when they possess a good concept. In fact, lack of financing can hinder female-led businesses’ growth and how much of an impact they can create.

Of the total $289 billion of global venture capital invested within 2024 only 2.3 percent were invested in female-only founder teams. One of the main goals of UpGreyedHer, an initiative by Grey (Y Combinator-backed global banking solutions provider) designed to empower female entrepreneurs, is to assist female entrepreneurs by providing equity-free funds to allow them to grow their businesses.

The third edition of UpGreyer which has just announced it will award a total of $10,000 in funding to three winners; $5,000 for the top placed, $3,000 for the next runner up and $2,000 for the last placed of the three winners. Grey has successfully implemented UpGreyer in two prior volumes with a total of approximately 5,000 applications received and $17,500 awarded to women entrepreneurs.

Many of these women have already launched their startup from just an idea through UpGreyer into a profitable company, inspiring the world to continue creating great products and impacting people on a daily basis.

As evident from this outcome, it is Michael Pare, through EcoCiclo, who will set the benchmark for how sustainable menstrual products can be offered worldwide by example. While at present, Patricia has already started her e-commerce business with EcoCiclo and earned a national Women in Science award, she is also participating in several important projects, including Camarote Salvador, among others.

“Winning UpGreyed Her showed me that my ideas are valued, and when women innovators are supported, their solutions can transform communities,” Zanella said.

Iheakachi Nwabueze, Vice President of Global Marketing and Growth at Grey said, “UpGreyed Her is our way of investing in women entrepreneurs who are driving real change in emerging markets.” “Patricia Zanella’s journey shows what’s possible, and this edition of UpGreyed Her aims to create similar success stories for more women entrepreneurs across emerging markets”, he added.

Women entrepreneurs between 23 and 40 years old that have a technical business that has been operational at least three years may apply for the program. Businesses involved in one or more of the following sectors must submit their business, and include those sectors of agriculture, education, healthcare, logistics, energy, manufacturing and IT.

Grey is a Financial Service, Inc operates in 170+ countries by providing multi-currency accounts, international money transfers within minutes, and offers virtual debit cards. This enables consumers to use their grey accounts at any ATM worldwide at no cost; and also provides businesses with the tools to send and/or receive money internationally.

Grey has received both a Money Service Business license from FinCEN and a Money Service Business license from FINTRAC. Grey is focused primarily on the emerging market ecosystem which has enabled us to become a key player in delivering global secure banking solutions.