The black-owned Fearless Fund is pleased after Mastercard Inc (NYSE:MA) supported its businesses. On Tuesday, MasterCard spoke out about its multimillion-dollar investment, terming it part of its move to improve its brand and support the growing number of minority female entrepreneurs. The company turned down a request from journalists to disclose the actual amount.
Striking a business partnership with Greenwood
Mastercard has also confirmed its entry into a business partnership with a fintech firm known as Greenwood. The firm’s main customers happen to be Latinos and Black business owners and consumers. The new partnerships will help it move faster in the issuance of debit cards, which will be the first time for it.
The president of strategic growth for MasterCard, Michael Froman, seems impressed by the company’s move. He terms the decision a step towards the right direction because it will help the company achieve its set goal of financial inclusion.
Froman discloses the company’s plan to help its partners with its assets. He outlines that they will be open to engaging with their partners and offering them the support they need to succeed. MasterCard will also be assisting its partners in increasing scale.
Fearless Fund’s resolve to support women of colour
Fearless Fund has spoken about its commitment to offering support to women of colour, vowing to offer support in consumer packaged goods, beauty, food, fashion, and technology industries.
The big names behind the unveiling of Fearless Fund include chief development officer Rudy Huxtable, COO Ayana Parsons, and CEO Arian Simone. Knight-Pulliam happened to be one of the actors in the popular Cosby Show, and Ayana has been a successful entrepreneur who has also authored many books.
Simone exudes tremendous confidence in MasterCard investment. The official outlines that the MasterCard investment can offer much-needed help and support to all the parties in the Fund’s portfolio.
Simone also expressed her excitement about the deal, outlining that it would play a significant role in helping push their brand a notch higher. It is a new dawn for women of colour who will get the necessary resources and funds to help support their businesses. The official looks forward to brighter times ahead.