Mastercard has added 11 companies to its Start Path startup programme and is expanding its Accelerate FinTech portfolio.
Under Start Path, Mastercard provides startups with access to its network, technology and expertise to help grow their businesses.
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Since 2014, the company has invited more than 230 later-stage startups globally to take part in its six-month virtual programme. The card giant offered technical guidance, operational support and commercial engagements within its ecosystem.
Startups in this network have raised $2.7bn in post-programme capital, said Mastercard.
Apart from Mastercard, these startups work with major banks and merchants, among other organisations.
Mastercard Labs executive vice-president and head Ken Moore said: “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.
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By GlobalData“Mastercard is thrilled to partner with some of the world’s most innovative startups to transform the future of commerce.”
Another Mastercard programme, called Engage, has entered into nearly 50 new deals with partners in the first quarter of this year. Some of these partners include Antelop, MeaWallet, Payair and Thales across Europe, Asia Pacific and Middle East Africa.
Engage caters to a network of more than 170 partners who develop and deploy new solutions on behalf of fintechs, banks and merchants.
Mastercard added that the programme has enabled more than 200 million cards to support financial growth and market entry for fintechs.
Earlier this month, Mastercard introduced an interactive platform Market Trends. The platform offers a comprehensive view of payments insights, competitive intelligence and industry trends for financial institutions in Europe.
