FinTech News
Mastercard Names Six Startups for Latest Start Path Accelerator
Mastercard’s award-winning Start Path program is ready for its next round. This week, Mastercard announced the latest six FinTechs that will participate in its accelerator. These startups include:
- Asante Financial Services
- Cledara
- Jifiti
- Moeda Seeds
- SpenDebt’s
- Tippy
Launched in 2014, the Start Path program has previously helped more than 250 startups develop their products and build their connections. In fact, Start Path alumni have gone on to raise more than $3 billion in investments. Because of this, the program is competitive, with less than 2% of approximately 1,500 startups applying being selected.
One of the startups selected this time around was Tippy — a digital tipping currently aimed specifically at the beauty service industry. The platform allows customers to tip their stylists, with those payments then going directly into the service professional’s bank account. This not only saves work and processing fees for business owners but reportedly also leads to more tips for workers. According to their site, Tippy clients have seen tips increase by an average of 23.5%. Through its participation in Start Path, the startup says it’s hoping to expand the platform beyond the existing beauty industry and into other verticals such as hospitality, tourism, and more. Additionally, Tippy is eying expansion not just domestically but internationally as well.
In a release announcing the latest Start Path class, Mastercard’s SVP of Fintech & Enablers Amy Neale stated, “As the FinTech landscape evolves at an unprecedented speed, Mastercard provides the infrastructure and assets to help FinTech innovators grow and ultimately bring more people into the digital economy. The newest Start Path companies represent the future of the fintech industry and are designing inclusive solutions that anticipate consumer needs – we’re thrilled to partner with these innovators on their path to scale.”
Meanwhile, speaking to what the program will mean to his company, TIppy CEO David Tashjian said, “With Start Path, we have the opportunity to accelerate the growth of our platform by using support from Mastercard’s network of innovators and experts and leveraging the success we have had in the beauty industry. This program will be instrumental for us to move forward and be able to empower more by replicating the model in multiple verticals.”
Given the growing prominence of FinTech and the digital economy, this latest installment of Mastercard’s Start Path program will certainly gain extra interest. Furthermore, with this round including six startups compared to 10 in the prior class, it seems the already-popular accelerator could be becoming even more competitive. Nevertheless, FinTechs interested in applying for future programs can find more information on the Start Path website.
