Mastercard names five early-stage startups for its Start Path in Solidarity Program

Card giant Mastercard recently listed the first five participants that will take place in the Start Path of its Solidarity Program. These are the five early-stage startups, and the company focused on firms founded by women and people of color.

The program was launched after a study revealed that in the US, underrepresented founders from the top-funded startups usually receive only 43% of the amount of funding received by startups founded by white men. As a result, Mastercard launched a program that would bring greater equality in the business world.

The program was designed to close the opportunity and wealth gap in America by providing help in the form of enterprise partnership readiness training, as well as a dedicated mentor and instructions for investors and the payment giant’s customers. In addition, participants will also have tech collaboration opportunities, as well as access to forums, where they will be able to pith their technology.

Solidarity Program’s first participants

So far, the company has revealed the names of five startups that will kickstart the program. The first among them is ChargerHelp — a company that provides on-demand maintenance and repairs for electric vehicle charging stations. The firm has developed advanced technology solutions, and Mastercard clearly sees potential in what it has to offer.

Next, Mastercard chose GoTackle. This is a company that reduces economic development organizations’ administrative workload. Doing so will increase the firms’ capacity to coach smaller businesses impactfully.

The third participant in the new program is Home Lending Pal. This is a company that provides financial analytics tools to lenders and homebuyers. Its solutions are meant to transform the traditional homebuying experience through a combination of financial education, technological innovation, and commitment to fair lending practices.

The fourth company that will join the Solidarity Program is Hopscotch. This is a firm that focuses on helping small businesses with managing their invoicing, bill pay, and cash flow. The company aims to make it easier, primarily by ensuring that all of it can be done on a single platform.

Finally, the last of the five participants is Meter Feeder. This is a business that allows vehicle fleets to quickly and easily set up automatic payments for parking and tolling violations. It also helps people keep vehicles compliant, and at the same time, it future-proofs the revenue of cities.

This is one of the biggest steps that Mastercard has made so far in its mission to “do well by doing good.” Its next big milestone is to connect 1 billion people to the digital economy by 2025. “This pledge is an extension of those efforts, connecting Black businesses to products, services, technology and financial support that will help to close the racial wealth and opportunity gap,” the company said.