Mastercard welcomes 11 new later stage, startups to its Start Path program

By Pavithra R

Mastercard has announced the expansion of its Accelerate FinTech portfolio, adding dynamic entrepreneurs to its startup engagement program Start Path and more technology partners to its Engage network, providing access to engineers and specialists to help customers deploy new services quickly and efficiently.

Mastercard, through the initiative, is supporting emerging brands to build and scale their businesses, bracing their programs today, and providing the resources they will need in the future. Mastercard recognizes the vital role that FinTech plays in digital transformation and is diversifying its business by diversifying its perspective.

“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,” said Ken Moore, Executive Vice President and Head of Mastercard Labs.

Through the announcement, Mastercard is welcoming 11 new startups to its Start Path program, offering a robust network, innovative technology, and deep expertise to help them grow their businesses and scale sustainably. Since 2014, the company has invited more than 230 later-stage startups worldwide to participate in its 6-month virtual program, providing operational support, technical guidance, and commercial engagements within the Mastercard ecosystem. Start Path evaluates more than 1,500 applications every year and selects approx. Forty startups that offer the most promising technologies and demonstrate a readiness to scale.

Mastercard Engage, part of the ‘Accelerate for FinTechs’ framework, connects customers to technology partners to make their payment strategies a reality. It identifies, serves, and promotes a network of more than 170 strategic partners who comply with Mastercard certification and rules to build and deploy new solutions on behalf of fintechs, banks, and merchants. The firm has signed almost 50 new deals with partners such as Giesecke+Devrient Mobile Security, MeaWallet, Antelop, Netcetera, Payair, and Thales across Europe, Latin America, Asia Pacific, and Middle East Africa.

The 11 new startups joining the Start Path program are Aper, Bit Capital, Doconomy, Finerio Connect, Hello Tractor, Izicap, Juvo, Olive, vcita, Xformative, and PhishAR.

Established since 1966, Mastercard is a global technology company in the payments industry. The firm is committed to building a more inclusive digital economy that works for everyone. Recently, Mastercard & Microsoft partnered to connect and power the digital economy.