LendingFront, Veridium, and Voca.ai are three of the seven companies recently selected to participate in Mastercard’s startup engagement program, Start Path. The accelerator program works with startups from a variety of fields ranging from banking and biometrics to data intelligence and security. Participating companies will access Mastercard’s worldwide ecosystem and leverage their new relationship with Mastercard and its customers to expand into new markets.
“After searching around its presence in 210 geographies and beyond,” a statement from Mastercard Start Path read, “Mastercard and seven startups are descending upon Dublin this week to ignite their collaboration.”
Start Path begins with a kick-off event that helps the program administrators get to know the companies, define goals and introduce startups to Mastercard’s partners, as well as future channels and customers. The majority of the program consists of a six-month virtual engagement that companies participate in from their home location.
Upon successful completion of the Start Path program, companies that have produced what the program referred to as “tangible value” for Mastercard’s partners will be eligible for potential strategic investment.
“The diverse technologies comprising the latest Start Path wave is a snapshot of the nearly 10,000 startups and fintechs connected to Start Path since its founding in 2014,” the program announcement noted. “It also shows how, through Mastercard Labs, we partner successfully to explore new technologies, accelerate new concepts and deliver transformative growth and change to the commerce landscape.”
The full roster of companies also includes Fligoo, mfarmPay, Monsoon CreditTech, and Segasec.
LendingFront demonstrated its Small Business Platform at FinovateFall 2016. Founded in 2015 and headquartered in New York City, the company offers an automated lending platform that consolidates processes typically conducted by disparate systems. The technology features application workflow for loan processing, a data engine, decision engine, offer screens, documentation and booking functionality, as well as servicing. LendingFront raised $4 million in Series A funding at the beginning of the year.
Massachusetts-based identity and access management solution provider Veridium demonstrated its VeridiumID with 4Fingers Touchless ID technology at FinovateEurope 2017. Earlier this month, the company unveiled its InMotion solution that leverages user behavior analytics to help secure online identities and prevent cyberfraud. Also this spring, Veridium partnered with Blue Turtle Technologies to drive adoption of biometric technology in Africa.
Best of Show winner Voca.ai demonstrated its intelligent virtual agent for call centers at FinovateEurope 2019 in February. It was the second Best of Show win for the company, which made its Finovate debut at FinovateAsia last fall. Founded in 2017 and headquartered in Herzliya, Israel, the company’s technology provides a flexible, natural-sounding, automated human voice system that improves customer satisfaction, and helps businesses convert and qualify more leads.