Mastercard Teams Up with Further Ventures for Advanced Payments and Asset Management Infrastructure Acceleration

Abu Dhabi-based venture building and investment firm, Further Ventures (Further) and Mastercard, have solidified their collaboration to advance the development of local fintech capabilities across the UAE and the broader Middle East and North Africa region. The formal partnership was announced during the Further Network Summit, a key event within Abu Dhabi Finance Week.

Mastercard, a pioneer in cutting-edge payment solutions, platforms, and technologies, will contribute its expertise to accelerate the joint efforts. This strategic collaboration aligns with Mastercard's commitment to bringing 50 million micro, small, and medium enterprises worldwide into the digital economy by 2025. In addition to sharing its technological prowess, Mastercard will make a significant investment in Further, bolstering the growth of the $200 million fund.

Further Ventures, backed by ADQ, is a forward-looking fund dedicated to supporting innovative startups from inception to exit. The firm collaborates with founders to incubate ventures focused on next-generation financial infrastructure. These ventures span various fintech domains, including wealth management, SME finance, financial inclusion, remittance, and payroll products. Further Ventures also champions Virtual Asset Service Providers (VASPs), encompassing virtual asset payments products, blockchain-based asset custody and security solutions, marketplaces, wallets, and other infrastructure tailored for the institutional market.