19 June 2018
Visit www.avoka.com

Mexican fintech accelerator launches; MasterCard to open East African financial inclusion lab

04 December 2014  |  8031 views  |  0 Keys on Card

Mexican fintech startups working to bring financial services to the country's underbanked are being invited to apply for a new accelerator programme and the chance to secure $50,000.

The programme is being run by Village Capital, an organisation that sources, trains and invests in seed-stage social entrepreneurs around the world, the MasterCard Center for Inclusive Growth, and the investment arm of microfinance giant Accion.

During the 10 week programme, which begins in February, 12 local startups will be given business development training, talking to investors, industry experts, top local entrepreneurs, and potential customers, to help grow their plans.

At the end of the period, the two startups ranked highest by the other entrepreneurs in the group will each receive $50,000 in capital from Village Capital and Pomona Impact.

Village Capital claims that, between them, the participants will create 100 jobs and provide approximately 200,000 low-income Mexicans with greater access to financial services, helping local communities and the economy as a whole.

Interested startups have until 12 December to apply.

Meanwhile, MasterCard has secured an $11 million grant from the Bill & Melinda Gates Foundation for a financial inclusion lab in East Africa that promises to work with local entrepreneurs, governments and other stakeholders across the region.

Ajay Banga, CEO, MasterCard, says: "Through the investment made by the Gates Foundation, coupled with our strong innovation processes, MasterCard will create and scale financial services that open up a world of inclusion and help people build better, brighter futures."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Citi to launch global accelerator programme

Citi to launch global accelerator programme

02 December 2014  |  17604 views  |  0 comments | 11 tweets | 14 linkedin
Gates Foundation launches challenge to boost mobile money acceptance

Gates Foundation launches challenge to boost mobile money acceptance

18 September 2014  |  8440 views  |  0 comments | 19 tweets | 16 linkedin
AmEx pushes tech to bank the unbanked

AmEx pushes tech to bank the unbanked

10 March 2014  |  15798 views  |  3 comments | 37 tweets | 24 linkedin
Unbanked hungry for mobile money - study

Unbanked hungry for mobile money - study

23 October 2012  |  12292 views  |  0 comments | 16 tweets | 14 linkedin
75% of world's poor unbanked but mobile phones revolutionising access

75% of world's poor unbanked but mobile phones revolutionising access

20 April 2012  |  10929 views  |  1 comments
Banorte targets Mexico's underbanked with mobile-based service

Banorte targets Mexico's underbanked with mobile-based service

17 January 2012  |  6756 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit equensworldline.com

Who is commenting?

A Finextra member Finextra Member Commented on: BIS: Cryptocurrencies...
A Finextra member Finextra Member Commented on: BIS: Cryptocurrencies...
A Finextra member Finextra Member Commented on: Monzo launches bill tr...
A Finextra member Finextra Member Commented on: NatWest taps Open Bank...
A Finextra member Finextra Member Commented on: HSBC promises $17bn in...

Top topics

Most viewed Most shared
10,000 jobs could be lost to robots says Citi10,000 jobs could be lost to robots says C...
48824 views comments | 44 tweets | 35 linkedin
Ripple exec says DLT not ready for banks...yetRipple exec says DLT not ready for banks.....
10633 views comments | 9 tweets | 32 linkedin
UK launches £2.5bn startup initiativeUK launches £2.5bn startup initiative
9475 views comments | 30 tweets | 26 linkedin
HSBC promises $17bn investment in technologyHSBC promises $17bn investment in technolo...
8402 views comments | 8 tweets | 21 linkedin
Live: EBAday2018, day oneLive: EBAday2018, day one
8254 views comments | 6 tweets | 5 linkedin

Featured job

Find your next job