Only 13.7% of €28.1 billion in financing reaches female entrepreneurs

Results of first Code V data report presented

A year and a half after Code V – an ABN AMRO initiative – was launched, the foundation has presented its first data report. The report reveals that only 13.7% of the total financing volume went to female entrepreneurs, despite their higher approval rates by banks and by non-banking financiers. The report is a significant milestone in the pursuit of equal financing opportunities for female entrepreneurs. For the first time ever, financing data in the Netherlands has been systematically collected, analysed and shared from a gender angle. The result is detailed insight into the financing gap experienced by female entrepreneurs in this country.

Important insights from the Code V data report

• Female entrepreneurs receive only 23% of bank financing, 17% of financing provided by alternative financiers and 19% of funding provided by investors.

• Women get higher approval rates from banks and non-banking financiers than other entrepreneurs: 74% versus 68% from banks and 24% versus 19% from non-banking financiers.

• Women receive less financing on average per loan application. At banks, this is €126,445 less on average; at non-banking financiers, it is €20,320 less; and from investors, women request an average of €205,075 less funding and subsequently receive less than half of the amount allocated.

Chantal Korteweg: “These findings highlight the need for public-private collaboration in order to remove the barriers that female entrepreneurs face. ABN AMRO is proud of its role as the initiator of Code V and remains committed to closing this financing gap. With our Inclusive Banking team, we work daily to remove the barriers that some clients experience. The data used in this report has made it painfully clear how significant the gap is between investments in female and male entrepreneurship. We believe that equal opportunities for female entrepreneurs drive economic growth, innovation and a sustainable future.”

Code V

Code V is an initiative by a working group of 107 public and private parties that have been collaborating intensively since 2023. The collaboration was initiated by Chantal Korteweg, Director Social Impact & Inclusive Banking at ABN AMRO. Code V has three main goals: obtaining insights, making interventions and investing. To enable targeted and effective investments, we first need to map out the barriers women currently face in entrepreneurship.