In this chapter, I analyze two welfare paradigms: the neoliberal and the social investment. Specifically, I focus on reconstructing the links between welfare policies and finance in each of them. To do this, I start with the neoliberal paradigm and the emergence, rise, and decline of microcredit as a central tool of development policies and the fight against poverty in the 1990s. Then, I focus on the social investment paradigm and its main components: millennial philanthropy, social finance, and the financial inclusion agenda. In this way, I analyze the increasing incorporation of knowledge, logics, actors, technologies, and financial instruments into the heart of welfare policy. Finally, I reflect on the ways in which financialization affects the modes of relationship between the state and citizens.