BMO Opens Fintech Accelerator for Women
BMO and tech hub 1871 have opened applications for their seventh annual WMNfintech program. The accelerator is designed to support women-led startups in the financial technology space.
The WMNfintech program is North America's largest fintech accelerator for women-led startups. Since its inception, program graduates have raised over $51 million in capital and created more than 220 jobs, demonstrating a significant impact on the fintech landscape. The initiative is a collaboration between BMO and 1871, a Chicago-based innovation hub that supports hundreds of technology startups. Each year, a select cohort of five companies receives a six-month membership to 1871, providing access to its resources and network. The curriculum is tailored to address key challenges in the financial industry, focusing on enterprise sales cycles, vendor management, information security, and regulatory compliance. Participants receive one-on-one guidance and mentorship from senior leaders and experts at BMO. This year, the program is expanding its reach by hosting events in New York City, Chicago, and San Francisco. These events will connect the founders with a broader network of stakeholders, including banking partners, regulators, and trade groups. This expansion aims to provide participants with greater exposure and opportunities for strategic partnerships. Upon completion, startups join an exclusive alumni network that includes financial institutions, venture capitalists, and industry leaders. BMO has a track record of continuing to support its alumni, having invested in or partnered with past participants like SpringFour, Plinqit, and Grounded Technologies. One notable alumna, Trustate, utilized the program's resources to refine its product and secure seed funding. The accelerator's focus comes at a critical time in the venture capital landscape. In 2025, companies with at least one female founder raised a record $73.6 billion in the U.S., accounting for 27.7% of total venture capital, a significant increase from 19.9% in 2024. However, companies founded solely by women still face significant hurdles in securing funding. Despite the challenging environment, fintech remains a top-funded sector for women-led startups. Studies have shown that companies with diverse leadership teams can see a 30% increase in returns on invested capital. Furthermore, businesses founded by women have been found to generate more than double the revenue per dollar invested compared to their male counterparts.
