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Visa Selects Seven Startups From Greece, Cyprus And Malta For Fintech Programme

by THEFUTURE.TEAM

May 11, 2026

Visa is setting the pace for financial innovation by selecting seven pioneering fintech startups from Greece, Cyprus, and Malta for the 2026 cycle of its esteemed Visa Innovation Programme Europe. With applications from these markets surging by roughly 50% year-over-year, the initiative underscores the robust growth of regional fintech ecosystems.

Strengthening Digital Payment Infrastructure

Now in its eighth cycle, the programme is strategically recalibrated to empower fintech growth, enhance digital payment solutions, and accelerate innovation across financial services. This year’s focus on artificial intelligence, agentic commerce, B2B solutions, money movement, open finance, and data is intended to unearth scalable solutions capable of transforming the payment landscape.

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Showcasing Diverse Innovation

Following the selection process, startups AgriNow, Better, Cloudigo, Paytic, GYST, Outfindo and Peanuds were chosen to participate in the programme. The selected companies operate across a range of sectors, including AI-powered workforce management, payment infrastructure, consumer finance technology and back-office automation for financial services.

Leveraging Strategic Partnerships

The programme is executed in collaboration with Eleven Ventures and Endeavor Greece, providing selected companies with unparalleled access to Visa’s extensive network of partners, mentors, investors, and clients. This ecosystem enables startups to rigorously test, validate, and accelerate their solutions under real market conditions while integrating emerging technologies within Visa’s global framework.

Insights From Industry Leaders

Sevi Vassileva, General Manager for Visa in Greece, Cyprus, Malta, and Israel, highlighted innovation as the cornerstone of evolving payment systems, stating, “In the eighth cycle of the Visa Innovation Program Europe, we are welcoming for the first time seven dynamic fintechs that bring fresh solutions capable of transforming the financial sector.” Daniel Tomov, founding partner at Eleven Ventures, and Panagiotis Karampinis, Regional Managing Director at Endeavor Europe, also emphasized the increasing sophistication of the regional fintech landscape and the importance of strategic networking in driving industry transformation.

Programme Impact And Future Outlook

Since launching in 2019, the Visa Innovation Programme Europe has expanded across 15 countries and reviewed more than 1,900 startup applications. Nearly 250 fintech companies have reached final evaluation stages, while the programme has facilitated more than 1,500 mentorship hours and over 750 introductions to Visa partners and investors.

The 2026 cycle will run through November before concluding with the Visa Innovation Program Europe Summit, where participating startups will present their progress to industry executives, investors and technology leaders.

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Keve Welcomes New Cyprus Business Development Organisation

The Cyprus Chamber of Commerce and Industry (Keve) has welcomed Parliament’s unanimous approval of legislation establishing the Cyprus Business Development Organisation, describing it as a major step toward improving access to finance for small and medium-sized enterprises, startups and self-employed professionals.

Expanding Access To Finance

The legislation creates a new public body aimed at addressing financing gaps by supporting businesses that struggle to secure funding through traditional channels.

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According to Keve, the initiative could strengthen entrepreneurship, boost competitiveness and support Cyprus’ green and digital transition. The chamber has long argued that SMEs rely too heavily on bank financing, limiting investment, expansion and innovation.

Keve Calls For Swift Implementation

Keve said it helped shape the legislation through the consultation process and called for the organisation to become operational as quickly as possible. It also pledged to continue working with the Finance Ministry and the organisation’s management to support implementation.

How The Organisation Will Operate

Approved by Parliament on Tuesday, the legislation establishes Cyprus’ national business development body under the supervision of the Finance Minister, while the Central Bank of Cyprus will oversee anti-money laundering compliance.

The organisation will design financing programmes, provide loans and conduct studies to identify weaknesses in the financing market.

Cyprus will provide €60 million in initial capital. Over time, the body will also be able to raise funding from European and international institutions and benefit from state guarantees linked to approved strategic priorities.

Recovery Plan Milestone

Creation of the organisation is one of the final milestones under Cyprus’ Recovery and Resilience Plan and is required for the country to receive the plan’s ninth and final payment. Appointment of the board of directors remains the last outstanding step.

Before approving the bill, the Finance Ministry revised the draft following consultations with MPs and stakeholders. The changes removed provisions allowing the organisation to establish companies and narrowed the list of eligible beneficiaries by excluding small mid-cap companies.

Lawmakers also strengthened governance rules by introducing stricter board suitability requirements, conflict-of-interest safeguards, enhanced reporting obligations and borrowing limits. A seven-member board appointed by the Cabinet will oversee the organisation, while a transitional board will serve for two years until it becomes fully operational.