Visa Aims for Diversity With Call for New Fintech Accelerator Applications

Visa and innovation platform Plug and Play are accepting applications for the second cohort of the Visa Inclusive Fintech Accelerator, which aims to accelerate the growth of FinTech startups led by diverse founders.

The companies are seeking applications from FinTech startups that meet one or more of the following qualifications: led by a founder who identifies as underrepresented, committed to serving underserved segments in North America, has demonstrated passion and commitment to inclusion, and/or has demonstrated resilience in their paths in the FinTech space, they said in a Monday (Aug. 12) press release.

Applicants must have a minimum viable product and be based in and conduct business within the United States or Canada, according to the release.

Those who are selected for the accelerator program will gain exclusive access to Visa’s network and resources, receive mentorship from industry leaders, and be considered for pilot projects and strategic partnerships with Visa, the release said.

The six-month program will culminate with a showcase at a Plug and Play summit in Silicon Valley in June 2025, per the release.

“We introduced the Visa Inclusive Fintech Accelerator to drive greater innovation and progress by championing diversity,” Vanessa Colella, global head of innovation and digital partnerships at Visa, said in the release. “We are so proud of our first cohort and all they accomplished and are thrilled to begin our search for the program’s second cohort to uplift more diverse FinTech founders and their brilliant ideas.”

The initial cohort of the Visa Inclusive Fintech Accelerator was announced in January and included 21 startups, according to a Jan. 16 press release.

Among the FinTech solutions being developed by these startups were ones for money movement, consumer banking and lending, and social and creators, according to the release.

Also in January, Visa Canada said it would support the entrance of Plug and Play into the Canadian FinTech market, enabling Canadian FinTechs to access Visa’s global network; join exclusive, interactive events; and connect with new partners.

Visa is a founding sponsor of Plug and Play, which is headquartered in Silicon Valley and operates from more than 60 locations on five continents.