Singapore, 9 July 2019 – Digital banking software provider Moneythor has been selected as one of 10 later-stage FinTech startups to be accepted onto the renowned Mastercard Start Path program, part of Mastercard Labs.
Mastercard Start Path supports FinTech firms scaling into new opportunities and markets. The program connects proven startups with leading international institutions and facilitates introductions to teams of Mastercard experts in the financial services and payments industries. Since its launch in 2014, the Start Path program has partnered with about 200 startups which have collectively raised approximately $1.4 billion in funding.
Moneythor provides data-driven digital banking software to leading financial institutions such as ANZ, CIMB, DBS, Standard Chartered and others. The company was chosen out of approximately 1,500 applicants and is the only Singapore-based firm included in this batch.
Founded in 2013, Moneythor enables banks, card issuers and new digital banks to provide personalised recommendations, insights and nudges to their customers, powered by real-time data, machine learning and behavioural science techniques. These enhanced banking services allow customers to improve their financial wellness through financial literacy tips, proactive spend notifications and personalised management of their financial goals.
With the support of Mastercard’s team of experts and extensive contacts in the industry, Moneythor plans to further expand its footprint in its existing markets as well as bring its intelligent data-driven banking capabilities to new territories.
Olivier Berthier, CEO & Co-Founder of Moneythor, said “We are delighted to be chosen as one of the few startups invited to take part in the Start Path program and proud to be held in the same regard as the previous and current groups of prestigious participants. We are looking forward to the upcoming months of the program and the opportunities that it shall bring.”
“Having evaluated 10,000 startups from across the globe, we are always adding ground-breaking entrepreneurs to our network of innovators,” said Amy Neale, Mastercard vice president and startup engagement lead for Start Path. “Mastercard Start Path companies today are later-stage startups and FinTechs reaching unicorn status, entering the public markets and co-creating with world-renowned financial services firms to deliver real solutions for consumers.”