This archive report was first published on 24 August 2020.
Nigeria's Hello Tractor Selected to Join Mastercard's Start Path ¶
Published on August 24, 2020
Hello Tractor, an innovative startup that connects tractor owners with smallholder farmers in Nigeria and Kenya, has been selected to join Mastercard's Start Path program. This prestigious program aims to support and accelerate the growth of innovative startups in the fintech and technology sectors.
Founded in 2016, Hello Tractor uses Internet of Things technology to provide affordable tractor services to farmers, enabling them to plant on time and increase yields. The startup has been making waves in the agricultural sector, and its selection to join Start Path is a testament to its innovative approach and potential for growth.
Mastercard's Start Path program provides a powerful network, innovative technology, and deep expertise to help startups like Hello Tractor grow and scale their businesses sustainably. The program has a strong track record of supporting innovative startups, with over 230 later-stage startups participating since 2014.
According to Jehiel Oliver, Founder of Hello Tractor, the partnership with Mastercard through the Start Path program will enable the startup to unlock additional value for its farmers by expanding their access to banking and payments infrastructure. This combination of innovations holds unlimited promise for the continent and the global south.
Mastercard's Start Path program evaluates over 1,500 applications each year and selects approximately 40 startups that offer the most promising technologies and demonstrate a readiness to scale. The startups in this growing network have gone on to raise $2.7 billion in post-program capital and collaborate with Mastercard, major banks, merchants, and other high-profile organizations.
Mastercard is also expanding its Engage program to support even more solutions and deliver better learning and promotional opportunities for partners. Engage identifies, serves, and promotes a network of over 170 strategic partners who comply with Mastercard certification and rules, to build and deploy new solutions on behalf of fintechs, banks, and merchants.
