August 2021 – Swap is pleased to announce that it has been selected by Mastercard for Mastercard Start Path, a global acceleration program that drives startup growth and generates new business opportunities through collaboration with the Mastercard ecosystem.
Swap, a Brazilian startup that enables companies to create their own fintechs and offers financial services to their clients has been selected for Start Path, Mastercard’s global acceleration program for startups looking to scale their business. Thus, Swap becomes part of a global network of innovators building the future of commerce and the payments market.
Founded in 2014, Start Path has engaged with more than 260 startups globally which have gone on to collectively raise over $5 billion in capital. Today, these organizations are entering the public markets, reaching unicorn status and entering extended commercial engagements with Mastercard and its customers.
Annually, approximately 1,500 startups from around the world are evaluated, but only approximately 40 of them are accepted. Once in the program, Start Path provides startups with operational support, business engagement and the opportunity for strategic investment.
Swap is the only Brazilian company present in this wave of the program. But 10 other fintechs were also approved in this edition, namely, Finmod, Flourish, GenEQTY, Karri, KeyChain Pay, Kwara, Layer, Osper, upSWOT and Wellthi. According to Marcelo Schucman, Founding Partner and responsible for Business Development at Swap, the selection for Start Path was a great pride: “We are thrilled to be selected to be part of Start Path and honored to be the only Brazilian company selected on this wave, despite knowing that there are so many other entrepreneurs in our ecosystem with the same potential to participate in the program”
For Schucman, this is another step in the partnership with Mastercard, whose role has been crucial for Swap’s trajectory: “In addition to Start Path being a market reference acceleration program for technology and payments startups, for Swap, in particular, already being an issuer-processor and holding a principal member license, it is a pleasure to participate in yet another venture with Mastercard, which has believed in our business since day one and has always shown itself to be a strategic partner. We are very grateful to the team that helped us with the operation from the beginning and to the global selection team that chose us to be part of this story”.
Mastercard Start Path brings together diverse players in the financial and technology ecosystem to scale innovative solutions for the financial services and payments industries. Swap’s participation reinforces the strength of its solution and the independence to serve customers with agility and speed, reinforcing that the payment market is open to everyone, without exclusivity and reservations.
According to Douglas Storf, founder and CEO, “Swap was born to make stories taken as impossible, possible and unlock the full potential and creativity of entrepreneurs, through a simple and independent solution thought specifically for our clients. Our participation on Start Path and partnership with Mastercard reflects exactly this concept and both companies’ ambition to create the future of the payments market globally. We are extremely happy for the opportunity to further strengthen a relationship so important and get to know and learn from the incredible entrepreneurs also selected for our wave.”
Swap is a Banking as a Service startup that has enabled several companies to offer financial services to their customers. With an independent strategy focused on solving the deep pains of specific segments, it differentiates itself from other BaaS companies in the market – that’s how the Multiflex platform emerged in early 2021, directed to flexible benefits companies.
Through this vertical, Swap delivers exclusive solutions for the segment, such as multiple balances in a digital wallet, shared authorization of transactions, a White Label application and, among other features, it also makes it possible to generate revenue with Interchange transfers under the brand.
A new project is also underway to build another vertical in the third quarter of this year that enables another segment to benefit from BaaS solutions tailored to their sector.
In operation since mid-2019, Swap is the “fintech factory” that has already raised R$17 million in investment rounds and grew more than 500% in 2020.
About Swap’s BaaS Solution
Swap’s Banking as a Service solution enables companies to have their own financial arrangements, with digital assets, virtual cards, buy now, pay later solutions, P2P transfers and native connection to the entire suite of financial services, including the card processing platform under the Mastercard brand that operates in an agile, modular and proprietary manner. In addition, Swap makes it possible to offer various payment options to customers, such as bank slips, bank transfers and PIX.
For more information about Swap and its solutions, visit: https://www.swap.financial/.