Akahu Joins Mastercard Path
Learn how New Zealand's Akahu joins Mastercard's Start Path program, enhancing open banking with a notable $900K investment from Westpac.
January 24, 2024
New Zealand's Leading Open Banking Fintech Joins Mastercard Accelerator
Akahu, a front-runner in the New Zealand fintech space, has recently become a part of Mastercard's Start Path global accelerator program. The initiative aims to develop and optimize Open Banking infrastructure, which has played a crucial role in enhancing loyalty programs in regions such as the UK and Australia.
Investment by Westpac New Zealand
Significant financial backing has been provided by Westpac New Zealand's venture capital arm, Red Bird Ventures. Their financial support includes an investment of $900,000 in October of the previous year and $2 million in 2020. This support underlines a solid dedication to fostering financial innovation. Notably, Westpac stands out as the only significant New Zealand bank issuing MasterCard payment cards. Other prominent banks such as ANZ, ASB Bank, Bank of New Zealand, and Kiwibank offer cards through Visa.
