This archive report was first published on 25 August 2020.
Published on August 25, 2020, Mastercard has announced the expansion of its Accelerate fintech portfolio, adding dynamic entrepreneurs to its startup engagement program Start Path and more technology partners to its Engage network.
Among the 11 global startups welcomed into Start Path is Hello Tractor, a firm operating across Nigeria and Kenya. Hello Tractor brings together tractor owners and smallholder farmers through Internet of Things technology, allowing farmers to access tractor services, plant on time, and increase yields.
“The current global shift towards digitization and open banking is transforming the future of commerce and connectivity as we know it. We are particularly excited to partner with regional innovative fintechs, such as Hello Tractor, through our Start Path program,” said Raghav Prasad, Division President for Sub-Saharan Africa, Mastercard.
Since 2014, Mastercard has invited more than 230 later-stage startups worldwide to participate in its six-month virtual program, providing technical guidance, operational support, and commercial engagements within the Mastercard ecosystem.
“Hello Tractor is revolutionizing how farmers access tractors in a region that has been plagued by low rates of mechanization. By partnering with Mastercard through the Start Path program, we have the opportunity to unlock additional value for our farmers by expanding their access to banking and payments infrastructure,” said Jehiel Oliver, Founder Hello Tractor.
