Groundbreaking Win for Verto
In a thrilling Announcement at the 2025 Milken Institute Global Conference in Los Angeles, the Milken Institute and the Motsepe Foundation awarded Verto the prestigious Milken-Motsepe Prize in FinTech. As a result, the company won a $1 million Grand Prize for its transformative work in digital finance.
Revolutionizing Cross-Border Payments
Verto, a UK-based firm, earned top honors for its innovative business-to-business cross-border payments platform. It is revolutionizing international transactions for businesses in emerging markets. Notably, by supporting 49 currencies and cutting costly intermediary fees, Verto’s platform enables fast, affordable financial transfers. Consequently, small enterprises worldwide gain new economic opportunities.
A Competitive Global Challenge
The Milken-Motsepe Prize in FinTech is part of a broader innovation program focused on bold solutions to pressing challenges, especially in Africa. Launched in May 2024, the competition attracted over 3,000 entrepreneurs from 126 countries. From 400 applications, 10 semifinalists advanced. Eventually, in the final round, Verto competed against Chumz and Oze.
Recognizing Impactful Innovation
At the event, Dr. Precious Moloi-Motsepe, co-founder and CEO of the Motsepe Foundation, praised the finalists. Moreover, she noted, “These innovations are reshaping traditional finance, advancing financial inclusion, and driving sustainable economic growth. Therefore, my heartfelt congratulations to the winners and all participants.” Read more here
Addressing Economic and Environmental Challenges
Importantly, the Milken-Motsepe Innovation Prize Program also tackles environmental challenges. By supporting scalable technological solutions, the program mitigates climate-related risks and strengthens resilience in vulnerable communities. As a result, innovations like Verto’s financial platform are key to greener economies. They improve efficiency and reduce waste in financial transactions. Additionally, such innovations foster stronger economic systems.
New AI and Manufacturing Prize Launch
Furthermore, building on this momentum, the Milken Institute and Motsepe Foundation announced a new $2 million prize focused on AI and manufacturing. This fourth installment of the Innovation Prize Program spotlights companies using artificial intelligence and advanced data analytics to transform Africa’s manufacturing sector. Specifically, the goal is to strengthen supply chains, create jobs, and enhance both economic and environmental resilience.
Building a Sustainable Future
The new prize, which offers a $1 million Grand Prize, highlights cutting-edge solutions. These aim to improve access to essential goods and services while reducing environmental impact. Notably, registration is open through July 31, 2025. Therefore, interested innovators are encouraged to apply soon.
Emily Musil, PhD, managing director at the Milken Institute, emphasized the importance of these initiatives. She said, “We’re excited to see how innovators harness AI to drive progress in manufacturing, building a future that benefits both people and the planet.”
