Mastercard Collaborates With Further Ventures to Expedite The Development of Local Fintech Capabilities in The UAE And The MENA Region
Global technology company in the payments industry, Mastercard, has joined forces with Further Ventures to accelerate the advancement of next-generation payments and the development of local fintech capabilities in the UAE and the wider MENA region.
Through this partnership, Mastercard is set to contribute its state-of-the-art payment solutions, platforms, and technologies to collaborative initiatives, aligning with the commitment to integrate 50 million micro, small, and medium enterprises (MSMEs) globally into the digital economy by 2025. Furthermore, the payments giant company will make a financial investment in Further, supporting the firm’s expansion.
On the other hand, Further Ventures which is known for investing and building firms in tech, and supply chains, will make concentrated capital commitments, work proactively with regulators, build software, forge partnerships, and bring its collective expertise to build category-leading companies.
Speaking on the partnership, General Manager Mastercard MENA East, J.K Khalil said,
“At Mastercard, we are committed to impactful and innovative opportunities that will further support the markets we serve. Our collaboration with Further Ventures will enable us to tap into emerging opportunities to promote inclusive and social need-driven innovation in Abu Dhabi and the UAE,”
Also speaking, Managing Partner at Further, Faisal Al Hammadi, said,
“At Further Ventures, we continuously explore new partnership opportunities to accelerate the growth of our ventures. Mastercard’s investment represents a significant milestone in our efforts to connect ambitious founders to the tools, resources, and networks they need to build, launch, and run great companies that disrupt industries with their groundbreaking solutions”.
With the latest fintech trends in the MENA region which include Embedded finance, Open banking, BNPL, Blockchain, and crypto, Mastercard and Further Ventures’ strategic allegiance will further hasten the evolution of cutting-edge payments and asset management infrastructure in the region.
