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Silicon Valley Bank and MasterCard Pick Five Startups for Virtual Accelerator Program

June 1, 2015         By: Melanie Macinas

Five startup companies are set to benefit from a virtual accelerator program that seeks to help commerce-focused startups grow their businesses.

Launched by Silicon Valley Bank and payments giant MasterCard, Commerce.Innovated. offers startups with the resources they need to improve their solutions. Participating companies get access to operational expertise from MasterCard, Silicon Valley Bank and their respective networks.

Participants in the third class of the four-month virtual program are:

  • Apruve, a Minnesota-based B2B eCommerce payments solution provider
  • AppZen, an expense reporting software based in California
  • Footmarks, an enterprise beacon platform based in Washington
  • Nowsta, New York-based logistics and labor management platform
  • SnapUp, a product tracking app based in California

“We’re thrilled to launch the next class of the Commerce.Innovated. program,” said Reetika Grewal, Head of Silicon Valley Bank’s payments strategy.

“There continues to be a tremendous amount of innovation in the commerce sector and we are excited to be working with these amazing, early stage companies. Our unique, operationally-focused program is designed to help these remarkable entrepreneurs grow their businesses quickly and find the resources that they need in order to achieve their next milestone.”

Launched last year, Commerce.Innovated. has already worked with 10 commerce-focused startup companies. These include CardFlight, Dash, Gone!, Local Maven, PayByGroup, Penny Owl, Slide, Spendlabs, Splitwise and Standard Treasury.

Startups seeking to take part in Commerce.Innovated. can apply for the next class in September.