The Visa Everywhere Initiative: A Showcase of Fintech Innovation at Disrupt 2024

In an electrifying convergence of innovation and entrepreneurship, the Visa Everywhere Initiative (VEI) took center stage at Disrupt’s prestigious startup event on October 28th, 2024. This global competition, designed to empower fintech startups with groundbreaking solutions, culminated in an exciting showdown where visionary entrepreneurs pitched their cutting-edge ideas to a panel of esteemed judges comprising industry leaders and fintech veterans. The event not only highlighted the creativity and ingenuity of emerging fintech solutions but also underscored Visa’s commitment to nurturing the next generation of financial technology.

A Platform for Innovation

Since its inception in 2015, the Visa Everywhere Initiative has been a beacon for fintech startups, offering them a platform to showcase their innovative solutions while fostering a collaborative ecosystem. This year’s VEI finale at Disrupt was no different, presenting an awe-inspiring array of talent and creativity. The initiative has consistently provided startups with the opportunity to gain visibility, mentorship, and potential partnerships with one of the world’s leading payment technology companies.

The Global Finals featured a carefully curated selection of five promising fintech startups from around the world, each vying for the coveted title and a chance to win a $100,000 prize. These startups represented a diverse range of solutions aimed at addressing various challenges within the financial technology landscape.

Meet the Finalists

The 2024 Visa Everywhere Initiative finalists were:

1. Flycode – This innovative platform helps companies recover failed subscription payments, thereby increasing revenue and customer retention. Learn more about Flycode.

2. GamerG – A skill-based gaming platform that offers prizes every day, combining entertainment with the potential for financial rewards. Explore GamerG.

3. Qugo – Focused on digitizing traditional distribution channels in Southeast Asia, Qugo aims to streamline processes and enhance efficiency. Discover Qugo.

4. Trexx – This startup facilitates access to credit through gaming, targeting Generation Z and unbanked individuals, making financial services more accessible. Check out Trexx.

5. Waya Finance & Technology – Offering a digital end-to-end solution that boosts the future of invoice finance, Waya is set to transform how businesses manage their cash flow. Visit Waya.

Judging Criteria

The startups were judged based on several key criteria, ensuring a comprehensive evaluation of their potential impact:

• Solution and Pitch Presentation: The clarity and effectiveness of the pitch were crucial in conveying the startup’s value proposition.
• Value Added for Visa / Partnership Opportunity: Judges assessed how each solution could align with Visa’s goals and create mutually beneficial partnerships.
• Desirability & Uniqueness: The uniqueness of the solution and its appeal to potential users were critical factors in the evaluation process.
• Feasibility of Product/Solution: The practicality and scalability of the proposed solutions were also taken into account.

Inspiring Keynote

Adding to the event’s excitement, Jen Welter, the first female NFL coach, delivered a keynote address themed “Breaking Barriers.” Her uplifting presence and insights on leadership and resilience provided valuable lessons to attendees, inspiring them to overcome challenges and pursue their entrepreneurial dreams. Welter’s journey as a trailblazer resonated with many, reinforcing the importance of diversity and inclusion in all fields, including fintech.

Celebrating the Winners

The culmination of the event was marked by the announcement of this year’s winners:

• Overall Winner: Jake Vacovec, Co-Founder of Flycode, emerged victorious, winning a $100,000 prize along with $25,000 in AWS Activate credits.
• Audience Favorite: Rashid Haddadin, Co-Founder of GamerG, captured the audience’s hearts, earning a $20,000 prize and $10,000 in AWS Activate credits.

In recognition of their accomplishments, AWS provided $25,000 in AWS Activate credits to the overall winner and $10,000 in AWS Activate credits to each of the four finalists. AWS Activate is a flagship startup program that offers founders cloud credits, technical support, and business mentorship, enabling them to leverage the most secure cloud services available.

A Legacy of Impact

Since its launch, the Visa Everywhere Initiative has attracted nearly 15,000 startups from over 100 countries, collectively raising more than $48 billion in funding. This impressive track record underscores Visa’s role as a leader in advancing payment solutions and fostering innovation in the fintech space.

The VEI Global Finals at Disrupt showcased the bright minds shaping the future of technology and finance. The event not only sparked inspiration and collaboration but also reinforced the importance of supporting emerging entrepreneurs in their quest to revolutionize the financial landscape. As Visa continues to weave its legacy into the fabric of fintech, the future looks promising for the next generation of innovators.