‘Mastercard for Fintechs’ the Program Which Offers Support to the Most Innovative Startups

The Spanish fintech ecosystem is experiencing a period of growth. With more than 1,500 startups, Spain is positioned as the third largest hub in Europe, attracting the attention of investors from all over the world:

“The Spanish fintech market is marked by exponential growth, driven by innovation, specialization in specific niches and strategic collaborations,” said Alejandro Banegas, Vice President of Digital Partners at Mastercard Spain.

‘Mastercard for Fintechs’: Powering the Next Generation of Startups

In this context of effervescence, the company has launched Mastercard for Fintechs, a pioneering initiative that seeks to identify and support startups in the financial and technological sector with the greatest potential in their growth stage. “We want to provide fintechs with the tools and resources necessary to scale their solutions, access new markets and revolutionize the payment experience for consumers,” said Banegas.

The fintech company that wins the award at the Paris final will receive a prize of 50,000 euros in marketing support, which includes access to Mastercard’s sponsorship resources, direct access to the Start Path final selection day – the program with which Mastercard has already supported more than 380 startups from 54 countries and from which more than 10 unicorns have been created such as Revoult, Razorpay or Airwallet – and mentoring from experts and founders of the ecosystem.

The great fintech meeting

The Mastercard for Fintechs program is a competition-program for fintech companies from Western Europe – specifically from the markets of Belgium, France, Italy, Luxembourg, the Netherlands, Spain and Portugal – whose objective is to award a single fintech with a tangible and innovative solution. Madrid will host the local competition-event on September 25, in which six Spanish and four Portuguese fintechs will have to demonstrate to the jury that they are the best candidates to win the award.

The three finalists of the local program (two from Spain and one from Portugal) from both markets will be announced, and they will have the opportunity to present their solutions to a jury of experts at the final event on November 25th, which will be held in Paris, where they will have to demonstrate that they are the best, along with many other fintech comapnies from the other countries participating in this program.

For Mastercard, collaboration with the fintech ecosystem is essential. “Fintech companies bring new ideas, agility and a user-centric approach that complements our experience and global scale,” explained Banegas.

Mastercard is not just looking for short-term relationships with startups: “We seek to establish strategic alliances that allow us to continue innovating together and bring the best payment solutions to the market,” says Banegas.

Betting on a more inclusive future

Mastercard’s commitment to fintech reflects its vision of a future where financial technology is more inclusive, accessible and secure.

“We believe that by supporting fintechs we are investing in the future of payments and building a more dynamic, innovative and competitive ecosystem,” concludeed Banegas.

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(Featured image by AKuptsova via Pixabay)

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First published in Expansion. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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