Visa Innovation Program already has the name of the fintech that will participate in its first edition in Spainwhich was born with the aim of promoting innovation in the payment ecosystem at the national level. Coinscrap Finance, Currency Alliance, Divilo, GoParity, October Spain and Parcela Ja are the startups chosen to join this 6-month program out of a total of 116 applications, from Spain and 20 other countries.
The thematic axes that the program will address in this 2022 edition will be: build a smart and sustainable future, how to promote the digitization of SMEs, develop new generation payment experiences and promote new payment flows. In Spain, Visa has launched this program in alliance with Finnovating, which will provide its knowledge and access to the fintech ecosystem through its constantly growing platform and Hackquarters, a startup accelerator and corporate innovation partner with experience with more than 800 companies in more than 100 countries, which will contribute its expertise in identifying opportunities for these companies.
Visa Innovation Program is a collaboration platform that allows Fintech companies to accelerate their response to the payment challenges of the future, allowing them to improve their own product propositions, as well as providing visionary solutions for Visa’s vast global network of customers and partners, spanning 200 countries. In addition, during this 6-month period, they will be provided with training content, mentorship sessions, connection with investors, and meetings with financial entities and corporations from other sectors interested in exploring their capabilities, as well as opportunities for joint collaboration.
This project was born in 2018 and has become an international benchmark after being launched in countries such as Turkey, Greece or Bulgaria, already accumulating more than 500 Fintech applicants from Europe, the Middle East, Asia, the United States and Latin America. Throughout these 3 editions, and with its fourth underway, a total of 50 have participated, having closed 45 PoCs (proofs of concept), pilot projects and commercial agreements, among others. In addition, the participants have achieved raise more than 359 million euros of financing upon your participation in the program, either independently or through the connections of the program managers.
In the words of Edward Prietogeneral director of Visa in Spain: “We are very proud to continue the successful trajectory of the Visa Innovation Program by launching it in Spain. Without a doubt, we want to contribute to the development of the future of payments in alliance with Fintech companies, strengthening the local ecosystem and offering them broad access to our network, training and visibility so that they can scale their businesses”.
- Coinscrap Finance: provides financial planning microservices to banks and insurers, extending its value proposition mainly to the millennial public and generating new business models based on the analysis of user data.
- Currency Alliance: Operates the global loyalty marketplace for brands to connect with each other and collaborate on the use of loyalty points/miles to incentivize customer behavior.
- Divilo: is a Spanish neobank that offers a 360º solution in payments, acceptance and accounting tools for companies and freelancers
- GoParity: is a financing and investment app that allows people and companies to use their money for a positive impact.
- October Spain: it is the leading platform for loans to SMEs in Continental Europe, it has developed the direct loan as a crowdlending platform; embedded financing, incorporating access to SME loans to the network of partners and connection as a B2B SaaS solution for financial institutions that want an integrated or modular platform for digital loans to SMEs
- Parcela Ja: is a fintech focused on payment in installments (Buy Now, Pay Later), at no cost to end customers. Consumers can now pay for their products or services purchased at the store checkout from 2 to 12 times with any payment card, without interest or fees and avoiding any bureaucracy or waiting time for credit approval. Parcela Ja solutions are offered both at point of sale terminals and online.