Elavon partners with GeorgiaTech incubator program to support fintech innovation

Elavon, a global payments provider and subsidiary of U.S. Bancorp, has announced a three-year financial commitment to financial and payments technologies innovation through a partnership with the Georgia Institute of Technology.

The Advanced Technology Development Center at Georgia Tech serves as an incubator for fintechs across the state of Georgia. Elavon's financial sponsorship will provide growth and startup support for entrepreneurs in the program, according to a press release.

As part of the sponsorship, Elavon executives will mentor program participants and provide consultation on effective go-to-market strategies.

"Our investment in this program and local fintech companies brings us closer to the growing technology community in Atlanta and across the entire payments ecosystem, and is part of Elavon's continued focus on integrated payments and e-commerce," Elavon Chief Product Officer Wally Mlynarski said in the release. "With this partnership, we are able to directly impact and shape the future of payments as technology and business models continue to rapidly evolve."

The ATDC program currently hosts 35 early-stage fintech startups. Since the program's inception in 2015, ATDC fintech startups and recent graduates have raised more than $65 million in angel and institutional venture capital, the release said.