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VATBox Wins Spot in Inaugural Global MasterCard Start Path Class

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VATBox will join three other startups in the inaugural global class of the MasterCard Start Path program.

The six-month class includes “immersion weeks” hosted in Berlin and Singapore, as well as ongoing support from the MasterCard network. The companies will also be invited to attend the Start Path Global Partner Summit to meet and network with representatives from more than 20 banking, retail, and technology companies such as Samsung Card, TSYS, and Bank of Montreal.

The four startups will have access to the nearly 40 companies that have been previously mentored by, or partnered with, Start Path, including Finovate alums, Big Data Scoring, CardFlight, nymi, and Rippleshot.

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VATBox CEO and co-founder Isaac Saft demonstrated the VATBox Automated VAT Recovery and Visibility solution at FinovateEurope 2015.

Stephane Wyper, global lead for MasterCard Start Path, said that the program was designed to be “more globally inclusive” and “provide startups access to new markets without uprooting them.” To qualify for the program, startups must have a live product in the market and have received initial funding. Joining VATBox will be payment analytics startup, Control; Japanese PFM innovator Moneytree; and artificial intelligence specialist, Rainbird.

Launched in 2014, MasterCard Start Path supports early stage startups working on the next generation of e-commerce solutions, including building big data, mobile, and cloud-based applications. The program seeks diversity among participating startups, encouraging companies with different levels of funding, team sizes, revenues earned and place of origin to apply. There were more than 200 applicants to this incoming inaugural global class.

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In addition to making its Finovate debut at FinovateEurope 2015 in London in February, VATBox raised $24 million in growth equity investment in August. The company provides an automated VAT (value-added tax) recovery solution that helps maximize VAT returns in a transparent and compliant way.

Founded in 2012 and headquartered in Herzilliya, Israel, VATBox demonstrated its Automated VAT Recovery and Visibility platform at FinovateEurope 2015 in London. Isaac Saft is CEO and co-founder.