Over the last year, the Global Agenda Council on the Future of Financing & Capital, formed of industry leaders, academics, finance ministers and central bankers, has tackled the question of the lack of financing for SMEs, although ample cash is ready to be deployed. This report synthesizes the authors’ efforts to take stock of what the finance industry has provided to date and how the FinTech industry has taken over some of the funding with its innovative business models and products.