Mr. FinTech Startup

Waitlisted at two schools: Cornell and IESE. You know what is giving those schools some pause–your low GMAT score of 570. That score would have completely torpedoed you if not for the fact that you are from South Africa where the average GMAT score is 505. Schools do look at scores in the context of those country averages and more business schools are eager to enroll students from Africa given the continent’s huge economic potential in years to come. The fact that you have done two startups and led the development of a retail digital bank for the African market make me think that at least one if not both Cornell and IESE will ultimately pull you off the waitlist with an admit.

Hello there Mr. Fintech Startup! Krista Nannery from mbaMission here. Thanks for posting.
I think Cornell and IESE are just waiting for a reason to accept you. Candidates like you don’t come along all that often. Please make sure you network your way through the waitlist process and provide updates on your candidacy (and networking). Then, I’d encourage you to either try the GMAT again or switch to the GRE. At this stage, b-schools want to know that you have at least TRIED. It signals that you are a mature, self-aware individual. I know it stinks — no one wants to take an exam again — but if you want to progress off those waitlists, that would be my recommendation. Also, you may want to throw in some R3 apps…Tepper, UNC, Georgetown might all be good options for you at this late stage in the game.
I sorta also want you to throw in a GSB application just because I think they want more candidates from Africa and will dig your startup experience but they may struggle with your GMAT in R3, along with your age. (BUT…good news is that you can apply to both GSB Full-time and Stanford Msx from the same application!)
Hope that helps!
Krista