Applications from commerce, payments and fintech companies for
Class 5 of the accelerator will be accepted through July 10
SANTA CLARA, Calif. – June
14, 2015 – Silicon Valley Bank (SVB) andMasterCard invite startups from
across the United States to apply for Class 5 of Commerce.Innovated. through July 10, 2016. Commerce.Innovated.
is a four-month, bi-annual virtual accelerator designed to help seed-stage startups
that are innovating in the commerce, payments and financial technology sectors
to refine and scale their business ideas. The program offers access to
operational and industry expertise from Silicon Valley Bank, MasterCard and
their respective networks.
into our fifth class of Commerce.Innovated., we continue to be impressed by the
entrepreneurs who apply for the program,"
said Reetika Grewal, head of Silicon Valley Bank's payments strategy and solutions
group. "Our aim is to bring our payments and operational experience to each of
these startups so that we can enable them to take their business to the next
level. So far we've seen 17 companies through the program and many of them are
doing very well—meeting milestones, obtaining funding and safely navigating
"Commerce.Innovated. plays an
important role in supporting next-generation companies and accelerating innovation,"
global lead for startup engagement and acceleration at MasterCard. "As part of
the program, we want to find the best and brightest, help them develop the
infrastructure and operations that they need to accelerate their growth and
together reshape the future of the fintech industry."
Commerce.Innovated. launched in
2014 and has worked with 17 commerce-, payments- and fintech-focused startups to date, including Alloy,Apruve, AppZen, CardFlight, Dash, Float,Footmarks,Gone, LaunchKey, Local Maven,Nowsta, Pay By Group, PennyOwl, Slide, Spend Labs, Splitwise and Standard Treasury.
helped Splitwise advance our ambitious goals at both a tactical and strategic
level," said Jon Bittner, CEO and co-founder of Splitwise. "Even years later the Commerce.Innovated. team has stayed very
engaged with the initiatives we started during the program, which has been very
valuable for us."
the next Commerce.Innovated. class that will run from Septemberto December 2016 can be submitted online at www.commerceinnovated.comthrough
July 10. Companies do not need to be current clients
of Silicon Valley Bank or MasterCard to apply.
The program is
open to early-stage companies meeting certain criteria:
a solution that is helping to make commerce, payments or fintech easier, safer
or better for consumers or businesses
a strong, small core team dedicated to the mission
or raising seed funding
a working product
Full program details and an online
application are available at www.commerceinnovated.com.
Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative
companies and their investors move bold ideas forward, fast. SVB provides
targeted financial services and expertise through its offices in innovation
centers around the world. With commercial, international and private banking
services, SVB helps address the unique needs of innovators. Learn more at svb.com.
SVB Financial Group. All rights reserved. Silicon Valley Bank is the California
bank subsidiary of SVB Financial Group. Silicon Valley Bank is a member of FDIC
and Federal Reserve System. SVB>, SVB Financial Group, and Silicon Valley
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(NYSE: MA), www.mastercard.com, is
a technology company in the global payments industry. We operate the world's
fastest payments processing network, connecting consumers, financial
institutions, merchants, governments and businesses in more than 210 countries
and territories. MasterCard's products and solutions make everyday commerce
activities – such as shopping, traveling, running a business and managing
finances – easier, more secure and more efficient for everyone. Follow us on
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