Mastercard has launched a new programme designed to support FinTechs start-ups in Western Europe.

Mastercard for FinTechs will offer education, networking opportunities and access to Mastercard’s FinTech learning platform. Mastercard said that the programme is aimed at FinTechs at a pre-seed, seed or series A investment stage in a variety of areas including blockchain, embedded finance and sustainable technology.

Additionally, the payment services company will put on a series of special events throughout Western Europe and participants will have the chance to win €50,000 in funding.

Mastercard said the programme will support FinTechs and help them grow during “an increasingly challenging” fundraising environment.

“At Mastercard, partnership is a part of our DNA, critical to defining how the company innovates for the future and creates meaningful, sustainable impact for society,” said Eimear Creaven, division president, Western Europe Mastercard. “Our world-class programmes nurture innovation, accelerate growth and streamline program launches.

“Our digital tools are designed to support FinTechs across every niche and at every stage of growth. We are excited to see the fintechs joining this inaugural program from across Western Europe, he added.

In April, a new study looking at funding for start-ups found that global funding for FinTechs has fallen to the lowest levels since 2017 to $7.3 billion.

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