Previse joins Mastercard startup program

Invoice payment specialists Previse has been selected to join Mastercard’s startup engagement programme, Start Path.

The initiative is aimed at supporting later-stage scaling startups through a  six-month long programme.

Paul Christensen, CEO, Previse, commented: “Being selected as part of the Start Path program is a testament to the strength of our offering, which answers the problem of slow invoice payments that hurt SMEs worldwide.”

A dedicated Mastercard sponsor provides a gateway to operational support, technology expertise, commercial engagement with Mastercard’s global ecosystem and opportunity to secure strategic investment.

The programme is open to fintechs who Mastercard believe are “rethinking banking, payments and commerce” and have already raised a significant seed or Series A round of investment.

Previse’s acceptance follows a selection process that witnessed approximately 1,500 companies evaluated, annually, for entry into the program, with only around 40 accepted.

Christensen concluded: “Our place in the network will support our continued growth and enable us to develop our offering further in our mission to end slow B2B payments for good. 

“We are proud to be part of the network and look forward to the opportunities it will enable us to pursue as we expand.”

Previse utilises artificial intelligence to analyse  invoice data from large corporations to tackle the issue of slow invoice payments to SME suppliers.

The firm then provides algorithm-driven invoice payment decisions,  enabling payments to be made as soon as an invoice is received rather than waiting for lengthy payment terms.