MasterCard selects super six for fintech accelerator
Silicon Valley Bank and MasterCard have selected six start-ups to participate in Class 5 of Commerce.Innovated, a virtual accelerator designed to help commerce, payments and fintech start-ups grow their businesses.
The six US start-ups will go through the four-month virtual programme and are in various stages of funding and development:
- Domuso, a payment financing platform for renters, Santa Monica (California);
- Earny, a personal assistant that automatically gets money back on purchases, Santa Monica;
- Papaya, a mobile bill pay app, Burbank (California);
- SmartGift, a provider of product e-gifting tech for nextgen commerce, New York;
- Truebill, an automated financial assistant for subscriptions and recurring bills, San Francisco;
- Qwil, instant pay for independent contractors, San Francisco.
Laura Spiekerman, co-founder of Alloy, which provides identity verification APIs for regulated companies, is an alumna from Class 4 of Commerce.Innovated and says the programme helped it to “validate our approach to financial institutions and connecting to clients”.
Since completing the programme, Alloy did a product launch with its first live customers and started fundraising for its second seed round. It stays in touch with the Commerce.Innovated team for connections, resources and expertise.
Commerce.Innovated launched in 2014 and has worked with 19 commerce-focused start-ups to date. Nine of the 19 firms have raised funding after the programme and four have been acquired.
