Visa Innovation Program Spain Edition is an equity-free pilot-centered collaboration platform that enables Fintechs to accelerate their response to the payment and commerce challenges of tomorrow, further enhance its own product propositions, and provide visionary solutions for Visa’s vast network of clients and partners. The program appeals to Fintech targeting to unlock new payment flows, advance next-gen payment experiences, empower SMEs, and build a smarter and sustainable future. The first batch of Visa Innovation Program Spain Edition opened the applications in May. 116 Fintech applied and 6 of them were selected for the first cohort of the Program.
Before Spain Edition, Visa Innovation Program has 3 years of history with its track records and success stories.
So far inVisa Innovation Program with the participation of Fintech startups from Bulgaria, Greece, and Turkey, they have raised €359 mn in total and we have a unicorn: Payhawk.
On 7 July 2022, Visa Innovation Program Spain Edition gave a start to the first season. The Kick Off “Meet With Potential Decacorns | Visa Innovation Program Spain Edition” began with the welcoming speech by Eduardo Prieto, Country Manager, Spain at Visa in Spanish. Prieto highlighted the importance of collaboration to foster innovation and thanked both partners (both Visa clients and corporate partners) and Fintech for their trust in this first edition.
Then, Hackquarters Founder Kaan Akın shared the program details and next steps (as mentioned above).
Following Kaan’s presentation, Rodrigo Garcia de la Cruz, CEO & Co-founder at Finnovating, told us about The Importance of Collaboration with Fintechs. There is a massive increase in collaboration between corporates and Fintechs. Collaboration is critical for corporates both for financial and business reasons. Spain startups are able to create embedded partnerships. There are 1293 active Fintech, Insurtech and Proptech in Spain; and 400+ of them are pure Fintech.
Investments and pilot programs are among the most efficient ways to create greater values for both Fintech and corporates. That’s why Visa Innovation Program Spain Edition is significant. “If you want to go fast, go alone; if you want to go far, go together.”
The kick-off continued with the pitches of 6 selected Fintech.
Here are the 6 selected Fintech and their one-lines:
Coinscrap Finance: Coinscrap Finance provides financial planning micro-services to banks and insurance companies extending their value proposal mainly to the millennial public and generating new business models from the analysis of their users’ data.
Currency Alliance: Currency Alliance operates the global loyalty marketplace for brands to connect with each other and collaborate in using loyalty points/miles to incentivize customer behavior.
Divilo: Divilo is a Spanish Neobank offering a 360º solution in payments, acceptance and accounting tools for companies and sole traders.
GoParity: Goparity is an impact finance and investment app that allows people and companies to use their money for good.
OCTOBER ESPAÑA: October is the leading lending platform for SME's in Continental Europe, it has developed a B2B SaaS offering for Embedded Finance and for Digital lending.
Parcela Já:Parcela Já is a Fintech company focused on installment payments, free of charge, for end customers. No bureaucracy. No waiting time.
July 26, 2022