Mastercard has introduced ‘Mastercard for Fintechs’, a specialized program aimed at startups in Western Europe. This initiative provides access to technology support and educational resources, coupled with various fintech events where participants can compete for a chance to win €50,000.
The program was developed in response to the current challenges in the fundraising landscape faced by fintech companies. It offers education, expertise, networking opportunities, and exclusive tools to empower these startups.
Eimear Creaven, division president for Western Europe at Mastercard, stated, “Our world-class programs nurture innovation, accelerate growth, and streamline program launches. Our digital tools are designed to support fintechs across every niche and at every stage of growth.”
The competition targets fintechs at the pre-seed, seed, or Series A investment stages that have launched a viable product in at least one of the following countries: Belgium, France, Italy, Luxembourg, Netherlands, Spain, or Portugal. Eligible sectors include payments, Web3 and blockchain, new payment flows, banking and SMEs, embedded finance, and sustainable technology.
After an initial selection process, participants will engage in four local competitions held from June to October in Paris, Madrid, Milan, and Amsterdam. Each city will feature eight competing fintechs, with two local winners selected from each event.
The eight local winners will then advance to a final event in Paris later in the year, where they will present their projects to a jury composed of Mastercard representatives and external partners. The pitches will be followed by a Q&A session, and entries will be evaluated based on team expertise, project innovation, financial health, long-term viability, scalability potential, and alignment with Mastercard’s goals.
The overall winner will be awarded €50,000 in marketing support, along with access to Mastercard’s sponsorship assets, a fast-track to the Start Path program’s final selection day, and mentorship from industry experts and founders.
Mastercard Start Path has a robust track record, having collaborated with over 380 fintechs across 54 countries, resulting in more than 10 unicorns, including Revolut, Razorpay, and Airwallet. In 2023 alone, around 50 commercial agreements were established with Mastercard and its clients.