Mastercard today announced its largest and most diverse class to enter the Mastercard Start Path programme – the company’s global effort to support later-stage fintech and tech startups.
The 11 selected companies are working on the largest array of innovations the programme has seen to date, with four of them coming from Europe. This class is developing new ways to use blockchain, protect digital identity, digitise donations and manage healthcare data, among other solutions.
Mastercard launched Start Path in early 2014 to provide operational support, commercial access and strategic investment for startups who are building innovative solutions in financial services and commerce. Since launch, the Start Path team has engaged more than 150 startups across the globe.
“The diversity of Start Path proves how quickly the pace of innovation is happening in so many areas,” said Amy Neale, vice president, Mastercard Start Path. “Providing a range of companies with the resources and introductions they need to scale allows us to enable new ways to build the future of commerce together.”
Based in London, ShieldPay’s instant digital escrow facility enables everyone, everywhere to transact with each other in total confidence, and Trunomi unlocks the power of customer data using data rights management. Railsbank gives companies access to a global banking network through simple APIs. Dublin-based AID:Tech delivers digital entitlements transparently through blockchain technology and digital identity.
These and other startups in the programme will connect with a host of global Mastercard executives and partners from banks, digital giants and retailers at the third annual Start Path Summit 2017. A substantial number of companies in attendance have engaged in active pilots as a result of the Start Path programme.
One of these companies is NetPlusDotCom that joined Start Path in April 2016 and recently collaborated with Mastercard to design an ecommerce solution for Nigerians to increase their confidence in online shopping. To participate, consumers must pre-authorise their payments to the retailer, but payments are not processed until the consumer confirms they are happy with the goods after delivery.
“We joined Start Path because we were excited about the possibility of collaborating with a leading global payment technology company, but we got much more out of the programme,” said Wole Faroun, founder and CEO of NetPlusDotCom. “Being exposed to international markets and receiving mentoring by top professionals in our industry allowed us to launch a joint solution within months of being in the programme.”
The other Start Path companies are:
- b.well makes managing healthcare and insurance simple by unlocking insights on patients.
- Flutterwave is fostering digital payment acceptance and infrastructure for banks and businesses across Africa.
- Goodworld powers the world’s only technology for frictionless hashtag payments on social media.
- HYPR reduces the risk of data breaches by eliminating the need for a centralised credential store.
- Mobeewave enables smartphones to accept contactless payments without external hardware.
- Sensibill’s platform turns everyday purchase receipts into a core part of the digital banking experience.
- Zeta Optima is a new way to manage employee claims, fuel card, medical allowance and other tax saving benefits.
These companies will work with Start Path against a tailored plan to help them scale. Applications for the next six-month virtual programme will be accepted until 5am GMT on Monday, January 15, 2018. The programme is open to startups who are rethinking banking, payments and commerce and have raised a significant seed or Series A round of investment. Interested startups can visit https://www.startpath.com/ for additional information and to submit an application.