Mastercard Welcomes New Fintech Startups Focused on Circular economy and Beyond
NEW YORK - Sept. 23, 2024 – Mastercard today announced its latest cohort for the Start Path program, a fintech startup accelerator, wiht a notable focus on companies driving innovation within the circular economy. This class includes Pentatonic, which automates product buybacks for resale, repair, or recycling; Circular, integrating automated resale into payment methods; and Circulayo, enabling instant deposits and environmental impact measurements for reusable packaging.
The program’s expansion reflects Mastercard’s commitment to fostering lasting commerce and supporting startups that address evolving consumer needs. With a global acceptance network of over 150 million merchants, thousands of banking partners, and more than 3.5 billion cards in circulation, Mastercard aims to leverage its reach to promote conscious purchasing choices. As stated in a company release, Start Path serves as “a force multiplier for good” in this effort.
Beyond the circular economy, Mastercard broadened Start Path in July to encompass a Security Solutions program, dedicated to supporting startups in cybersecurity, fraud mitigation, digital identity, and payment resiliency.In May, the company also unveiled the inaugural Start Path Acceptance group, concentrating on payment acceptance solutions for small businesses and nontraditional channels. this group features late-stage startups developing low-cost solutions and expanding acceptance options.