MasterCard offers coaching to Brazilian tech startups

Payments company gets involved in a startup fostering scheme led by local banking giant Itaú and Redpoint eVentures

MasterCard is providing coaching and mentoring to technology startups in Brazil through a partnership with local banking giant Itaú.

Executives from the products and solutions team at the payments firm join a partner network of companies involved in Cubo, a startup initiative led by Itaú in partnership with Redpoint eVentures. MasterCard's APIs will also be made available to the resident entrepreneurs.

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Since its inception in 2015, Cubo acts as a coworking and events venue, while providing acceleration services to members of the approximately 50 technology start ups working at the São Paulo-based facility.

"Having a company like MasterCard within Cube fills us with pride. It's great to be able to offer to the resident startups the innovative tools of a leading company in the payments space, which can help [entrepreneurs] to evolve further and reach new heights in their businesses," said IT superintendent at Itaú and one Cubo's founders, Erica Jannini.

Other companies offering mentoring and services to the startups at the Cubo facility include Cisco, Accenture and Microsoft.