Silicon Valley Bank and MasterCard looking for fintech start-ups for Commerce.Innovated accelerator
US-based Silicon Valley Bank (SVB) and MasterCard are calling on US start-ups to apply for their Commerce.Innovated accelerator programme.
The application process closes on 10th July, and the programme will run September to December.
Commerce.Innovated is a four-month, bi-annual virtual accelerator, and this will be the fifth time it is held.
Its organisers say it is aimed at “seed-stage start-ups that are innovating in the commerce, payments and financial technology sectors” and the idea is to help them “refine and scale their business ideas”.
Reetika Grewal, head of SVB’s payments strategy and solutions group, states: “Our aim is to bring our payments and operational experience to each of these start-ups.
“So far we’ve seen 17 companies through the programme and many of them are doing very well – meeting milestones, obtaining funding and safely navigating regulatory obstacles.”
Stephane Wyper, global lead for start-up engagement and acceleration at MasterCard, adds that Commerce.Innovated is looking “ to find the best and brightest, help them develop the infrastructure and operations that they need to accelerate their growth and together reshape the future of the fintech industry”.
Its alumni include Alloy, Apruve, AppZen, CardFlight, Dash, Float, Footmarks, Gone, LaunchKey, Local Maven, Nowsta, Pay By Group, PennyOwl, Slide, Spend Labs, Splitwise and Standard Treasury.
Companies do not need to be current clients of SVB or MasterCard to apply, buy they need to meet the following criteria:
- focus on commerce, payments or fintech (consumer or business);
- a strong, small core team dedicated to the mission;
- secured or raising seed funding;
- have a working product.