By
Tolu Ajiboye
April 8th, 2024
Mastercard would provide the adequate assets and resources needed to help fintech innovators develop.
Mastercard Start Path has added six new fintech innovators to its accelerator program. While revealing the announcement on the 3rd of May, financial services company Mastercard Inc (NASDAQ: MA) said that the six fintech startups include Moeda Seeds, Asante Financial Services, Cledara, Jifiti, SpenDebt, and Tippy. According to the Start Path website, the program aims to provide support and help maximize the potentials of the companies.
The Mastercard accelerator program runs for six months and supports startups. The program helps fintech scale up and commercialize the startups’ products and services. When Mastercard selects companies for its Start Path, such companies enjoy the technology, expertise, and resources of the financial services company.
The senior vice president of fintech and enabler at Mastercard, Amy Neale, commented on the latest development. Neale said that Mastercard would provide the adequate assets and resources needed to help fintech innovators develop. She added that the provision would eventually attract more people to the digital world.
Speaking further, the SVP said:
“The newest Start Path companies represent the future of the fintech industry and we are designing inclusive solutions that anticipate consumer needs – we’re thrilled to partner with these innovators on their path to scale.”
Mastercard foray into blockchain technology is evident through its latest Start Path participator, revealing a renewed interest in the inventive payments area. Before now, Mastercard has been investing in software companies in the blockchain industry. Along with other renowned companies, Mastercard recently raised $65 million for a blockchain software company, ConsenSys.
Selected Startups for the Mastercard Accelerator Program
Moeda Seeds is uniquely positioned as a sole blockchain firm that offers digital banking and payments. Additionally, Moeda Seeds also offers micro credits, using distributed ledger technology (DLT).
Also, Cledera is an All-in-one Saas (Software-as-a-service) purchasing and management platform. According to the website, it helps companies manage, control, and automate their SaaS so that they can scale operational processes, comply with regulations and save money.
On the other hand, Jifiti provides retailers with Zero-integration POS financing and end-to-end retail gifting solutions. Also, SpenDebt makes it easy for its users to pay off their loans, while Tippy is for cashless tipping in the service industry.
While speaking on their partnership with Jifiti, Simon Forbes, senior vice president of Business Development at Mastercard, said:
“We are delighted to collaborate with Jifiti in Europe as this partnership allows us to deliver seamless checkout financing experiences for consumers. It’s a win-win for all the stakeholders.
Furthermore, Asante Financial Services Group is a high-impact digital financial services company. The company focuses on supporting the growth of African businesses and individuals through relevant financial solutions.
Mastercard stock has seen an increase of 38.48% in the last year. MA has added 6.29% in its year-to-date record and has grown further by over 13% in the last three months. Also, the company’s stock has advanced nearly 3% over the past months. Currently trading at a loss of 0.11% to $379, Mastercard stock has dropped 2.49% in the last five days.
