Mastercard announces ten winners for the Mastercard Strive EU Innovation Fund

The Mastercard Strive EU Innovation Fund awards grants of up to €500k to 10 innovative organizations supporting small business growth across the EU

Today, Mastercard announced the winners of the Mastercard Strive EU Innovation Fund, with grants distributed to ten organizations developing digital and data-first solutions for small businesses.

The Mastercard Strive EU program aims to boost the resilience and growth of Europe’s small business community by supporting new innovations that enable small businesses across the EU to get capital, go digital, and access networks and know-how.

The program is part of the global Mastercard Strive initiative, which aims to reach 18 million micro and small businesses and is supported by the Mastercard Center for Inclusive Growth. The program is delivered in partnership with Caribou Digital.

The Mastercard Strive EU Innovation Fund attracted near 500 applications. Submitted applications offered digital solutions for European small businesses in the categories of AI, embedded finance, environmental sustainability and cybersecurity.

Winners from eight EU member states were selected: Netherlands, France, Belgium, Germany, Sweden, Czech Republic, Denmark, and Luxembourg. Their solutions will support small businesses to:

• Unlock working capital and credit through embedded finance;
• Go digital safely by bolstering cybersecurity;
• Navigate evolving consumer preferences & regulatory expectations around environmental sustainability;
• Harness artificial intelligence to save time and make money.

Grants are awarded to organizations that focus on testing and scaling viable, early-stage solutions that drive the growth and resilience of European small businesses with fewer than 10 employees. The winners will use the fund to validate and develop their solutions over 12 to 18 months, while benefiting from select Mastercard Start Path resources, bespoke mentorship, and exposure opportunities through Mastercard and the program’s Small Business Council—a group of executive leaders chaired by Mark Barnett, President of Mastercard Europe.

“We proudly celebrate the winners of the Mastercard Strive EU Innovation Fund and look forward to seeing them make great strides in scaling their solutions to meet the unique needs of European small businesses—the backbone of our economy and the heart of our communities,“ said Mark Barnett, President of Mastercard Europe. “As the Small Business Council our mission is clear: to harness our collective expertise to bolster the winners, ensuring they receive the necessary resources and guidance for success.”

"Small businesses are the powerhouse of entrepreneurial spirit and resilience across Europe. At the Mastercard Center for Inclusive Growth, we are working to create the conditions for them to thrive, to ensure sustainable and inclusive economic growth. By supporting digital and data-first solutions, we hope to equip European small businesses with the technology and innovation they need to unlock their full potential and continue to narrow economic divides in communities across the continent," said Payal Dalal, Executive Vice President of Global Programs at the Mastercard Center for Inclusive Growth.

The innovation fund winners offer a variety of digital solutions, carefully selected to support small businesses in their digitalization and growth journey. They include:

Bizcuit, the Netherlands

Bizcuit simplifies entrepreneurship for small businesses by enabling them to manage their daily finances through their bank app, saving time, making informed decisions, and improving cash flow management. Its embedded finance solution allows banks to offer small business-focused solutions in just a few weeks, without the need to invest in complex, long-term projects that carry high risks. With Mastercard Strive, Bizcuit will extend its technology to a wider set of partners and de-risk its adoption by those who might be constrained by backlogs and compliance priorities.

Cresco Cybersecurity, Belgium

Cresco Cybersecurity aims to develop an all-in-one penetration testing solution for small businesses. Their program with Mastercard Strive will focus on delivering comprehensive cybersecurity services to identify and address vulnerabilities specific to small businesses and reduce their risk of cyber threats.

Direct Market, France

Direct Market is a digital marketplace designed to support small agribusinesses, particularly farms, in marketing their products locally. Its goal is to enable retailers and large buyers to source local goods more efficiently while offering consumers access to fresh, locally grown produce. With Mastercard Strive, Direct Market will expand its software as a service (SaaS) marketplace solution, enhancing its performance and scalability to accommodate growing user demand.

It Goes Forward, the Netherlands

It Goes Forward offers Return Article Forwarding, a Software as a Service (SaaS) solution that revolutionizes the e-commerce returns industry by allowing returned products to skip the warehouse and facilitating peer-to-peer exchanges (at a discount). Their program with Mastercard Strive will focus on enabling European small businesses to reduce return rates, benefit from cost savings, improve operational efficiency and reduce carbon emissions by minimizing transportation needs and extending product lifespan.

Lupasafe, the Netherlands

Lupasafe, part of Skopos Security Labs, provides an advanced, comprehensive cyber security monitoring solution for businesses and organisations including the Dutch regional government. Their program with Mastercard Strive will focus on reducing cyber risks for small businesses.

Ragna, Sweden

Ragna, created by Planethon, is an AI-powered sustainability advisor designed to help small businesses navigate environmental regulations and implement sustainable practices. The solution will provide real-time advice and resources tailored to the specific needs of small businesses.

Redamp.io, Czech Republic

Redamp.io is a cybersecurity solution that enables small businesses to bolster their cybersecurity with an affordable, cloud-based and user-friendly platform. With Mastercard Strive, Redamp.io will scale its pilot platform by adding essential features to create a one-stop-shop cybersecurity solution for small businesses.

tilt, Germany

tilt enables EU banks to develop effective climate strategies for their small business lending portfolios, addressing small business needs for funds and guiding their green transformation. Their program with Mastercard Strive will provide a user-friendly interface for banks to explore and analyze data, create interactive PDF reports with climate strategy guidance, and offer advice on sustainability improvement loans to support small businesses that are vulnerable to climate change.

Valerian Capital, Luxembourg

Valerian offers small businesses quick access to funding at the click of a button, along with AI-powered analytics. Through their partnership with Mastercard Strive, they will provide a fully automated, data-driven financing solution featuring an intuitive natural language interface that allows small businesses to easily query and analyze their data.

IVÆKST, Denmark

Ivækst’s solution, AI HUB, aims to assess small businesses' AI potential and equip them with the essential AI tools they need to save time, create business value, and grow in a digital economy. Their program with Mastercard Strive focuses on equipping small businesses with digital resources and support for marketing, financial planning, and operational efficiency.

Learn more about Mastercard Strive EU.