SVB Financial and Mastercard have accepted six startups for the fifth installment of their accelerator, Commerce.Innovated.
Commerce.Innovated is a four-month program for startups focused on commerce, fintech and payments and is designed to help them grow their businesses. Each company receives guidance on issues ranging from compliance and security concerns to marketing from SVB, Mastercard and their respective networks.
The six startups are: Domuso a payment-financing platform for renters in multifamily communities; Earny, a personal assistant that automates price protection; Papaya, a mobile-bill-pay app; SmartGift, an e-gifting technology provider; Truebill, an automated financial assistant that tracks, manages, and cancels paid subscriptions and recurring bills; and Quil, an instant-pay platform for independent contractors.
Commerce.Innovated launched in 2014 and has worked with 19 commerce-focused startups to date, including Standard Treasury, the API startup that later joined SVB Financial's information technology team to help it expand the bank's digital banking platform. Nine of Commerce.Innovated's graduates have raised funding after the program and four have been acquired.