Mastercard has launched its new Western Europe program called `Mastercard for Fintechs` in order to further develop and improve the fintech ecosystem. Mastercard designed the program ‘Mastercard for Fintechs' to support fintech firms in Western Europe and equip companies with essential resources and expertise to promote ongoing development and propel them to success.

More about the announcement The 'Mastercard for Fintechs' program provides exclusive access to Mastercard's dedicated fintech learning platform, participation in a series of fintech events across Western Europe, and the opportunity to compete for the chance to win EUR 50,000. The competition targets fintech companies in the pre-seed, seed, or series A investment stages. In order to benefit from the program, these companies must have implemented a tangible solution in one of the listed European countries – Belgium, France, Italy, Luxembourg, Netherlands, Spain, and Portugal.

The fields of interest include payments, Web3 and blockchain, payment processes, banking & SMEs, embedded finance, and sustainable technology. The European contest consists of four local competitions held from June to October in Paris, Madrid, Milan, and Amsterdam, following the initial selection of participants. Each city will host eight fintechs and two local winners will be chosen from each city.

The eight winners will then advance to the final event in Paris at the end of the year. During the competition, fintechs will present their projects to a panel of judges made up of members from Mastercard and external partners. Following the presentations, a Q&A session will take place, and each project will be evaluated based on the team's expertise, project innovation, financial stability, long-term viability, scalability potential, and alignment with Mastercard's strategy.

The event winner will receive EUR 50,000 marketing assistance through Mastercard Start Path. This includes sponsorship resources, a direct path to the final selection day, and mentoring from experts. Start Path has partnered with 380 fintech companies from 54 countries, leading to the creation of over 10 unicorns such as Revolut and Razorpay.

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