Supporting underrepresented fintech founders to spur innovation and growth
November 30, 2023Mastercard extends resources, mentorship and collaboration opportunities to five startups scaling on-demand maintenance for EV charging stations, financial analytics tools for homebuyers and more
Mastercard is deepening its commitment to driving innovation and accelerating growth of fintechs by providing equitable financial tools and partnership opportunities through the Start Path In Solidarity program. Five early-stage startups founded by women and people of color are joining the startup engagement program to get access to the mentorship and funding they need to scale their business. In the U.S., underrepresented founders from the top-funded startups typically receive on average only 43% of the amount of funding as compared to the average startup founded by a white man, impeding their competitive edge.
The Start Path In Solidarity program is part of Mastercard’s larger In Solidarity commitment of $500 million in products, services, technology and financial support to help close the racial wealth and opportunity gap in America. Through the program, startups receive stage-relevant support, including enterprise partnership readiness training, a dedicated mentor and introductions to investors and Mastercard customers. The founders also have opportunities for technology collaboration and forums to pitch their solutions to prospects.
From offering tools to promote equity in the mortgage process to reducing administrative workload for small business support organizations, the following startups are joining the Start Path In Solidarity program:
ChargerHelp (Los Angeles, Calif.): Provides on-demand repairs and maintenance for electric vehicle charging stations using advanced technology solutions.
“ChargerHelp has deep expertise in electric vehicle charging station maintenance and operation,” says Kameale Terry, co-founder and CEO of ChargerHelp. “Our team values inclusivity and diversity, creating opportunities for individuals from all communities and backgrounds to thrive in the field of EV charging.”
GoTackle, powered by GoLogic (Chicago, Ill.): Reduces economic development organizations’ administrative workload, increasing their capacity to impactfully coach small businesses.
“What sets GoTackle apart is its unique ability to bring together economic development organizations and small businesses into one collaborative workspace while delivering value chains across the economic development ecosystem,” says Patrice Neely, CEO of GoLogic.
Home Lending Pal (Orlando, Fla.): Supplies financial analytics tools to homebuyers and lenders that aim to transform the traditional homebuying experience by combining technological innovation, financial education and a commitment to fair lending practices.
“HLP's emphasis on financial education, fair lending practices and niche program support reshapes the traditional lending landscape, promoting inclusivity and access to homeownership," says Bryan Young, right, co-founder and CEO and Steve Better, co-founder and COO of Home Lending Pal.
Hopscotch (New York, N.Y.): Helps small businesses more easily manage their invoicing, bill pay and cash flow in one seamless platform.
“Today, Hopscotch users can pay and get paid in real time with zero fees, which has a tangible impact on a business's operations and P/L,” says Reed Switzer, founder and CEO of Hopscotch. “With Hopscotch, businesses get paid faster, keep more of the money they earn and have more control over their cash flow than ever before.”
Meter Feeder (Pittsburgh, Pa.): Allows vehicle fleets to quickly and easily make automatic payments for parking and tolling violations, keeping vehicles compliant while future-proofing the revenues of cities.
"We’re bringing fleets into the future of parking,” says Jim Gibbs, co-founder and CEO. “Our goal is simple: never worry about your fleet’s parking or tolling tickets again - save time while saving money by reducing pricey ticket escalations, keeping vehicles compliant while future-proofing the revenues of cities.”
Mastercard has engaged more than 370 startups from 52 countries through Start Path since the program was founded in 2014. Today, many of these companies are entering the public markets, reaching unicorn status and entering extended commercial engagements with Mastercard and its customers.
Startups interested in the Start Path In Solidarity program can apply here. Applications will be reviewed on a rolling basis beginning in mid-January 2024.
Media contact: Jen Langione, Mastercard Global Communications, (917) 408-2941, jen.langione@mastercard.com
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