Israel’s vCita has been selected to take part in Mastercard’s Start Path global program

Israeli startup vCita has been chosen to take part in Mastercard’s Start Path worldwide program. Their involvement in the program offers access to support, assets, business counseling, and investments from Mastercard and its partnered companies. This includes banks, trade companies, and others from around the world.

The Start Path program was created in 2014 as Mastercard’s tool to facilitate collaborations with startups relating to a variety of fields, such as AI, digital payments, blockchain, and cryptocurrencies. To date, it has chosen 230 startups and helped raise more than $2.7 billion in capital after their participation in the program.

vCita was founded in 2010 and provides a user-friendly management application for small and medium businesses (SMBs). In the last 10 years, its user base has grown to include more than 150,000 businesses that rely on vCita’s system. Its relationship with Mastercard was established at the start of the coronavirus (Covid-19) pandemic when it revealed a new platform for SMBs in Europe and Israel to manage their finances more digitally with automated tools.

“Since the beginning of the relationship between vCita and Mastercard which was established about a year ago, we have felt mutual common values, goals, and more importantly, a shared vision for how we can support small businesses around the world,” Adi Engel, CBDO at vCita said. “The coronavirus crisis has increased the pressure on small businesses to undergo a digital transformation, and we hope that thanks to the collaboration with Mastercard we will be able to help as many of them as possible to adapt to the new reality. We are proud to join the Start Path program and thank our Mastercard partners for supporting us in the admissions process.”

vCita’s inclusion in the program follows other Israel-based companies such as PayKey, a social banking solution, VATBox, which maximizes the rates of VAT refunds, and Supersmart, a tool allowing those to scan and pay for supermarket items more efficiently.

The Start Path program will also work directly with Mastercard and Enel X’s Innovation Lab, created in collaboration with the Israel Innovation Authority (IIA) and the Government of Israel.