Mastercard Start Path will provide targeted support, access to consumers and product teams, and possibilities to co-innovate to 11 fintech startups globally.
Mastercard paves the way for innovators all across the world aiming to build platforms in areas like open banking, small business financial modeling, smart rental payments, and more.
Finmod, Flourish Savings, GenEQTY, Karri, KeyChain Pay, Kwara, Layer, Osper, Swap, upSWOT, and Wellthi were chosen to participate and are modernizing payments through gamification, behavioral science, social banking platforms, and more.
“We’ve witnessed great growth across the fintech ecosystem, and more people are benefiting from the digital economy than ever before,” Amy Neale, senior vice president, Fintech & Enablers, said. “Through Start Path, Mastercard provides a springboard for fintech startups that are promoting a more inclusive digital economy and assists them in speeding up the pace at which they are changing the world.”
Mastercard has a history of partnering with startups. Since its inception in 2014, Start Path has identified co-innovation opportunities and offered mentorship to more than 260 startups, who have raised more than $5 billion in funding.
Mastercard embraces chances to help and collaborate with digital players to unlock potential and build the next generation of commerce as the fintech ecosystem continues to evolve and diversify.
Also read: Mastercard Foundation gives US$1.3B for Africa vaccines
To quickly scale their businesses, the following startups have joined this growing network:
- Finmod helps small and medium-sized businesses forecast financials 10 times faster and make financial decisions in real-time.
- Flourish FI is an engagement and financial wellness platform for financial institutions, using gamification and behavioral science to empower individuals to establish positive money habits and achieve financial security.
- GenEQTY offers a smarter digital banking solution to help small businesses and solopreneurs improve financial performance, manage business health and get faster access to funding through one central data-driven business hub.
- Karri is a mobile payment app that facilitates fast and easy payments to schools and community organizations and provides parents a convenient way to manage their child’s money.
- KeyChain Pay is a smart platform for landlords and tenants to collect and pay rent using AI and credit card tokenization.
- Kwara is transforming credit unions into modern, digital banks with a credit union operating system and neobank experience for their members.
- Layer’s digital banking platform delivers a blend of traditional and neo-bank capabilities from one platform, dramatically reducing cost, revolutionizing the customer journey, and enabling banks and non-financial institutions to become truly digital.
- Osper empowers young people to earn, spend and save; its new B2B platform, Prosper, allows any company to launch their own youth card scheme in weeks at a fraction of the cost of building in-house.
- Swap is a Brazil-based platform that empowers businesses to embed financial services to expand their footprint, deliver unmatched product experiences and boost their economies.
- upSWOT offers a white-labeled business health dashboard that powers online and mobile banking platforms with 150+ API-enabled apps.
- Wellthi builds social banking solutions to help clients leverage the power of AI, data, and online communities to attract and retain new customer segments by turning every card into a community.
