Creating impact across ecosystems with Visa

Industry

+ Finance

Solutions

+ Startup Engagement

Visa enables consumers, businesses, banks, and governments to process digital payments.

In light of the boom of digital payment startups in Latin American countries as a result of a significant unbanked population and a cashless culture, Visa needed to explore FinTech collaborations in order to fend off competition and keep its leading position.

We partnered with Visa across multiple Startupbootcamp accelerator programs – in Mexico City and Dubai – to provide regular engagement and experimentation with the startup community. This has expanded into a greater relationship working with Visa across multiple jurisdictions and industries.

39

Startups accelerated in Mexico City

$20M

Funding raised

$110M

Total valuation

86

Programme Net promoter score

150+

Commercial pilots

$70bn

In opportunities — Almost half of the LATAM population is unbanked

A collaborative approach from day one

In 2017, we launched the Startupbootcamp FinTech Mexico City accelerator program to help FinTech startups scale and cope with the demands of the pace of financial services innovation. Visa joined the program as one of the industry partners, committed to shaping the digital transformation of the sector in Latin America.

In 2017, we launched the Startupbootcamp FinTech Mexico City accelerator program to help FinTech startups scale and cope with the demands of the pace of financial services innovation. Visa joined the program as one of the industry partners, committed to shaping the digital transformation of the sector in Latin America.

Later in 2017, the Visa partnership expanded in Latin America with the launch of the Startupbootcamp Scale FinTech program, targeting growth-stage FinTech companies (pre-Series A funding) with a presence in Latin America, as well as those who seek entry into the region.

This initiative provides companies with the opportunity to collaborate with mentors and specialised industry partners, such as Visa, in order to break down the growth barriers faced by these types of startups.

  • “Visa seeks to collaborate with FinTech companies to co-create the future of payments and with our financial partners, accelerate together the adoption of new technologies in the country. In that sense, we are excited to participate in Startupbootcamp Scale; through our open platform, Visa Developer Platform, we collaborate with startups so that they can leverage our high infrastructure and complement their own solutions with these assets.”
    Juan Carlos Guillermety
    Vice-president of Products and Payments Innovation at Visa Mexico

Explore our accelerator programmes

Intensifying the relationship

Our relationship with Visa in Latin America evolved in 2017, as we were engaged to run Visa’s Everywhere Initiative – its global startup engagement platform – in Latin America. Visa trusted Rainmaking and Finnovista to run Visa’sEverywhere Initiative LAC globally and to identify startups with which it could begin piloting innovative solutions that could help solve real business challenges.

Through Visa Everywhere Initiative LAC, more than 800 FinTech startups have engaged with Visa in the past 3 years. In 2019, 12 growth-stage startups participated in a 5-week immersion program designing pilots with Visa and its partner ecosystem to solve three key business challenges set forth by Visa.

“Through the Visa Everywhere Initiative, Visa is on a mission to partner with startups to co-create the future of Payments. That’s why we are excited to support Finnovista and sponsor Startupbootcamp FinTech Mexico City as a way to find innovative ways to improve the payment experience for consumers.”

Juan Carlos Guillermety, Vice-president of Products and Payments Innovation at Visa Mexico

Expanding to new horizons

Due to a successful collaboration with VISA in LATAM, we started engaging with the partners in other regions and across industry verticals including Smart City.

In 2017, we launched Startupbootcamp Smart City Dubai accelerator in line with Dubai’s ambition to become the smartest city in the world. Visa joined the program as one of our industry partners in order to collaborate with and support top smart city startups across the region.

“Visa is proud to support Dubai Smart City Accelerator as we work collectively on the mission to provide start-ups with the right support, and mentorship to thrive and shape the course of smart cities in the future. […]

Hosting this mentoring session at Visa’s Innovation Center in Dubai provided a creative environment to help stimulate the advancement of smart commerce and digital payment infrastructure, which is an integral component of smart cities and startup communities.”

Otto Williams, Head Strategic Partnerships, FinTech and Ventures at Visa

Our work with Visa within the FinTech ecosystem is set to continue. As Visa joined more programmes in MENA including Startupbootcamp FinTech Dubai and FinTech Cairo, together we look to address the distinct needs of FinTech startups across the region.

Share

Written by
Rainmaking
April 6, 2020
Rainmaking
Rainmaking is corporate innovation and venture development firm. We create, accelerate, and scale new business with the world’s leading corporations and entrepreneurs.

Find out how partnering with Rainmaking could transform your business.

Get in Touch