MasterCard, Silicon Valley Bank Support Startups, Innovation with Accelerator Program (June 2, 2015)
Innovation continues to be a hot commodity in payments, and five U.S. startups have been chosen to participate in Commerce.Innovated., an accelerator program to help companies focused on commerce grow their businesses. MasterCard and Santa Clara, Calif.-based Silicon Valley Bank selected the startups for the four-month program and provide them access to resources, such as their operational expertise and networks. That access helps fledgling companies develop and enhance their products and services.
The five companies are: Apruve, B2B eCommerce payments solutions, Minnesota; AppZen, expense reporting software, California; Footmarks, an enterprise beacon platform, Washington; Nowsta, a logistics and labor management platform, New York; and SnapUp, a product tracking app, California.
This is the third class to go through the program, which has helped 10 other commerce-focused startups since it began last year: CardFlight, Dash, Gone!, Spendlabs, PayByGroup, Penny Owl, Standard Treasury, Splitwise, Local Maven and Slide.
“As we look at the future of commerce and payments, the next generation of technologies is already being developed by these early stage companies today, so we look forward to helping them continue to evolve their solutions,” said Stephane Wyper, vice president at MasterCard Labs.