Mastercard’s Global Startup Incubator Kicks-Off a New Season with Zeta and 10 Additional New Startups
As part of its commitment to building the future of commerce, Mastercard recently announced the group of companies selected to matriculate into the Mastercard Start Path Global 2017 wave. Out of the 11 startups selected, Zeta - the fintech startup to revolutionise employee tax benefits in India is the only entrant from the Asia Pacific region.
Co-founded by Bhavin Turakhia (CEO) and Ramki Gaddipati (CTO), Zeta has revolutionised the space of employee claims and reimbursements by launching an innovative cloud-based enterprise solution suite called Zeta Optima.
The product offering includes employee benefits such as reimbursements for medical, fuel, LTA, mobile, books and several other such company benefits - all accessible digitally for both corporations and employees. Zeta Optima is used by 1.5 million users across 12,000+ organizations in India. Zeta is a single platform which manages multiple benefits and the solution is compliant and customisable at the same time, making it a first-of-its-kind offering in the employee benefits space in India.
Start Path Global will provide Zeta and its fellow matriculants with operational support, commercial access and strategic investment. Launched in 2014, the program has seen much success around the world. The program has mentored approximately 1,600 startups per year and engages with more than 150 of them around the globe.
Porush Singh, Country corporate officer, India and Division president, South Asia, Mastercard, said: “Over the past few years, India has witnessed a tremendous growth in its start-up ecosystem. To continue driving momentum, providing the right mentorship and operational support to these upcoming companies is mission critical. Start Path is one such initiative by Mastercard that exposes young professionals to international markets and provides an enriching global experience. I congratulate Zeta on being chosen for the Global Start Path Program.”
Ramki Gaddipati, CTO and co-founder, Zeta, said: “We are proud to be shortlisted for the Mastercard Start Path program. As pioneers in digital employee benefits, we are handling complex payment scenarios and bridging transaction data with enterprise policies and systems. Mastercard will be a great partner helping us participate in the global digital payment ecosystem. Start Path specifically gives us an opportunity to take our solutions to a range of Mastercard partners across the world.”
The other Start Path companies selected this year are:
* AID: Tech delivers digital entitlements transparently through blockchain technology and digital identity.
* b.well makes managing healthcare and insurance simple by unlocking insights on patients.
* Flutterwave is fostering digital payment acceptance and infrastructure for banks and businesses across Africa.
* Goodworld powers the world’s only technology for frictionless hashtag payments on social media.
* HYPR reduces the risk of data breaches by eliminating the need for a centralized credential store.
* Mobeewave enables smartphones to accept contactless payments without external hardware.
* Railsbank gives companies access to a global banking network through simple APIs.
* Sensibill’s platform turns everyday purchase receipts into a core part of the digital banking experience.
* ShieldPay‘s instant digital escrow facility enables everyone, everywhere to transact with each other in total confidence.
* Trunomi unlocks the power of customer data using data rights management.
These companies will work with Start Path against a tailored plan to help them scale. Applications for the six-month virtual program are accepted on a rolling basis. The program is open to startups who are rethinking banking, payments and commerce and have raised a significant seed or Series A round of investment.
