Mastercard continues to build out its Accelerate fintech portfolio, in which it helps dynamic startups scale into new horizons. In recent developments, Mastercard is adding 11 new startups to its “Start Path program.” In a push to drive the future of commerce, Mastercard is helping startups scale their blockchain and open banking solutions.
Mastercard Start Path
Fintech companies around the globe consistently apply to the Mastercard Start Path program. The startup engagement platform helps ideas come to fruition by leveraging the powerful network of Mastercard. In a recent press release by Mastercard, it was outlined that more than 1,500 companies apply to a program in which only 40 are selected on a yearly basis. The program has an excellent track record, accounting for more than $2.7 billion in company funding following program completion. Startups enrolled in Start Path have a competitive advantage with access to industry expertise, cutting edge technology, and a network of Mastercard partners. With 170+ strategic partners involved in the Mastercard Engage network, companies enrolled in the Start Path program have infrastructure to build significant momentum.
Mastercard Adds 11 FinTech Companies To Start Path Program
As Mastercard continues to focus on FinTech disruption, it recently announced the addition of 11 FinTech companies to the Start Path engagement program. Mastercard stated that these companies would specifically be focused on scaling their blockchain and open banking solutions. Mastercard is embracing the future of FinTech and understands that blockchain and cryptocurrencies are creating new opportunities for digital payments.
Ken Moore, Executive VP & Head of Mastercard Labs stated that:
“With the dramatic shift towards digital payments, the rise of open banking and the growth of blockchain and cryptocurrencies, there’s never been a more exciting time to be an innovator in fintech. Mastercard is thrilled to partner with some of the world’s most innovative startups to transform the future of commerce.”
Companies Joining The Start Path Program
Mastercard will be working alongside the following companies to drive the future of commerce:
Aper Partners: Works with financial institutions to create their own ecommerce marketplaces, ultimately fueling the ability to cross-sell various financial products
Bit Capital: An open banking platform fueled by blockchain technology, that gives customers the ability to effortlessly deliver their own digital financial products
Doconomy: FinTech company focused on reducing unsustainable consumption and carbon emissions.
Finerio Connect: Offering the first open banking API in Latin America with end-to-end services.
Hello Tractor: Tech infrastructure making fleet management easier and more profitable
Izicap: The company’s smart data platform helps merchants turn cardholders’ payment cards into loyalty cards, fueling the way merchants run loyalty programs and digital marketing campaigns.
Juvo: By assessing mobile data, Juvo is structuring financial identities, serving 68% of adults worldwide that have no credit history.
Olive: Platform focusing on card-linking for organizations in an effort to help members understand social, personal, and financial goals.
Vcita: Building a business management app for small businesses
Xformative: Payment system that leverages microservices in secure AWS-cloud native environments.
PhishAR: Fighting financial fraud and ransomware through the world’s first app-based phishing resistance and two factor authentication.