Mastercard chooses Infinicept for start-up programme
Payment Facilitator in a Box creator Infinicept has been invited to join Mastercard’s Start Path start-up engagement programme, reports Jane Connolly.
The six-month scheme gives later-stage start-ups access to Mastercard’s global ecosystem.
Amy Neale, Mastercard vice president and global lead for Start Path, says the company has evaluated 10,000 start-ups from all over the world.
She adds: “Mastercard Start Path companies today are later-stage start-ups reaching unicorn status, entering the public markets and co-creating with world-renowned financial services firms to deliver real solutions for consumers.”
Infinicept has short-circuited the risks and time involved in becoming a payment facilitator, by offering companies a merchant underwriting and back office platform that can be set up in weeks, rather than years.
“Fintech and Software-as-a-Service (Saas) companies see the value of integrating merchant acceptance, underwriting, onboarding and back office operations into their products, but in order to do that, they need a supporting platform that reduces the complexities of it and works with any bank, processor, gateway or CRM they choose,” says Deana Rich, co-founder and co-CEO of Infinicept.
“Achieving 500% revenue growth and joining the Mastercard Start Path programme confirms Infinicept is on the right path to fill a critical market need for fintech and Saas companies.”
Infinicept’s customers come from a variety of vertical markets including retail, food and beverage, healthcare, real estate and events.