Mastercard invests in Polish fintech startup Veresto
As reported by the MamStartup media, Warsaw-based company Verestro, previously operating under the name uPaid, has raised funds from Mastercard. The amount of investment is not disclosed.
Polish startup develops, integrates and manages application programme interfaces for banks and fintech partners. Currently, it provides solutions to customers of over 20 markets from Central and Eastern Europe, the Middle East, the United States and Southeast Asia.
Verestro has offices in Sofia, New York and Sao Paulo. In the near future, the company is planning to continue foreign expansion and open offices in Dubai and Singapore as well as acquire the new customers in the United States, South America and Southeast Asia, tells Tomasz Kupka, Head of Sales at Verestro.
For Mastercard, this investment is a part of its strategy of supporting the fintech industry and solutions that help clients optimize payment technologies. Verestro is a long-term partner of the Mastercard Engage acceleration programme. Therefore, in addition to financing, the card issuing giant will support Verestro company with access to its global financial and retail partner network.