Westpac doubles commitment to female entrepreneurship with $1 billion fund

Marina Gainulina
10:00am April 02 2025

Westpac's Tamara Bryden, Managing Director of Business Lending (left) and Anthony Mathews, National GM, SME & Small Business (right) with Kate Reid, Founder and Co-Director of Lune Croissanterie (centre).  (Lucas Dawson Photography)

Westpac has announced the expansion of its Women in Business fund to $1 billion, in a move to help more women achieve their dreams of starting their own venture.

The initiative aims to tackle the financial hurdles women face when starting – and growing - their businesses, with new research highlighting nearly half (45 per cent) of female SME business leaders have started a business from scratch, compared to 27 per cent of their male counterparts. 

Despite this, 70 per cent of women believe it’s harder to access financing than men. Westpac’s Managing Director, Business Lending Tamara Bryden believes the WIB fund is, “challenging that thinking”.  

A key feature of the Women in Business fund is the simplification of the loan application process. Westpac has invested in training staff to recognise and mitigate unconscious bias, making it easier for women to access the necessary funds. 

"We've simplified the loan application process, which is really important," Bryden explained. "We've also invested in training for our people around unconscious bias, and what this really provides is a wonderful opportunity to showcase women."

Westpac started the fund two years ago, pledging $500 million to help female founders start and scale their businesses. This goal has been met, with the fund supporting 1,155 female entrepreneurs across various industries, including healthcare, hospitality, retail and fintech.

Stacey Edmonds, Founder and CEO of Dodgy or Not? a social enterprise and gamified "cyber-meets-Tinder" platform with the goal to make cyber safety second nature, at work, home and everywhere in-between. (Supplied)

Amongst many inspiring examples of the female-founded businesses that have already benefitted from Westpac's fund is Dodgy or Not?, an innovative gamified learning platform designed to enhance digital literacy and scam detection. 

Co-founded by Stacey Edmonds, a former teacher and Deloitte partner, the game uses real scam data and behavioural science to create an engaging educational experience. With funding from Westpac, Dodgy or Not? launched a school edition and a new website, with the goal to make cyber safety second nature.

"The biggest challenge was really committing to taking the plunge and being all in," Edmonds recalled about building a tech startup. "I back myself; I've built three businesses and managed hundred-million-dollar budgets. At what point am I old enough or experienced enough? If not now, when?"

Edmonds is no stranger to systemic barriers women face in business and challenges the oft-assumed rhetoric surrounding it. When asked if she’s experienced imposter syndrome, she mused, "it's not imposter syndrome; it's the response to us [as women] because we're not believed." 

"When people listen to you, you feel confident and able. I’ve experienced first-hand the difference, as Partner at Deloitte there comes a level of respect I had not experienced before.  It was then I knew, it's not our problem; it's a systemic issue." 

Beyond providing financial support for female entrepreneurs, Westpac also simplified the lending process for all eligible start-ups and scale-up businesses. 

Bryden notes many women-owned businesses build their purpose into their business from the start. 

“What I love about the stories of the women I’ve spoken to, is that in nearly all of them, there’s a social aspect to what they’re going after… These women are doing amazing things in their communities – and we’re so proud to be a part of that.” 

Marina Gainulina

Marina Gainulina (she/her) is a Content Producer for Westpac Wire. Graduating with a Bachelor of Communications & Media (Journalism) degree, Marina has spent a decade as a lifestyle journalist and luxury marketer, crafting commercial and editorial content for global brands including Tiffany & Co., Hugo Boss, NIVEA and GRAZIA.

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