Fintechs Bizcuit, Valerian Capital and tilt are among the 10 recipients of Mastercard’s Strive EU Innovation Fund, each awarded €500,000 to develop solutions that address the unique challenges facing small businesses across Europe.
The Mastercard Strive EU programme, part of Mastercard’s global Strive initiative, is designed to strengthen and grow Europe’s small business community by supporting innovations that help businesses secure funding, adopt digital tools as well as connect to valuable networks and expertise across the EU.
Backed by the Mastercard Centre for Inclusive Growth as well as Caribou Digital, the initiative is set to reach 18 million micro and small businesses globally, focusing on digital inclusion as well as growth.
Nearly 500 applications poured in for the Strive EU Innovation Fund, which ultimately awarded grants to 10 organisations from eight EU member states, including the Netherlands, France, Belgium and Germany. Each selected project also aligns with key areas essential to small business growth: embedded finance, cybersecurity, environmental sustainability, and AI-driven solutions.
These winning solutions provide small businesses with tools to:
- Access working capital through embedded finance
- Improve security in digital operations by enhancing cybersecurity
- Adapt to environmental sustainability regulations and changing consumer expectations
- Use artificial intelligence to streamline processes and increase profitability
The Strive process
Grants support early-stage solutions with high growth potential, designed to aid European small businesses with fewer than 10 employees. Each winner will also work over 12 to 18 months to validate and expand their services, with access to Mastercard Start Path, a startup engagement programme that also offers mentorship and exposure through Mastercard and the Small Business Council, 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 Barnett. “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.”
The Strive EU Innovation Fund winners
- Bizcuit (Netherlands) helps small businesses streamline finances directly through their banking app
- Cresco Cybersecurity (Belgium) is building a cybersecurity solution focused on vulnerability detection for small businesses
- Direct Market (France) connects small agribusinesses with local consumers through a digital marketplace
- It Goes Forward (Netherlands) innovates in e-commerce returns, enabling peer-to-peer exchanges as well as cutting carbon emissions
- Lupasafe (Netherlands) focuses on cybersecurity monitoring for small businesses
- Ragna by Planethon (Sweden) uses AI to help businesses implement sustainable practices
- Redamp.io (Czech Republic) provides an accessible, cloud-based cybersecurity platform
- tilt (Germany) supports climate-aligned lending strategies for banks and small businesses
- Valerian Capital (Luxembourg) offers fast, AI-powered financing solutions
- Ivækst (Denmark) equips small businesses with tools to leverage AI for growth as well as efficiency
“Small businesses are the powerhouse of entrepreneurial spirit and resilience across Europe,” Payal Dalal, executive vice president of global programs at the Mastercard Centre for Inclusive Growth, also added. “At the Mastercard Centre 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.”
