Mastercard pledges millions to aid Black businesswomen with Fearless Fund
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“This is part of our broader work on financial inclusion,” Mastercard executive Michael Froman said Tuesday. File Photo by Bill Greenblatt/UPI | License Photo
April 20 (UPI) Mastercard announced on Tuesday that it plans to spend millions to help Black American businesswomen with the Fearless Fund, a venture capital project built by women of color.
The Fearless Fund provides financing to companies started by women of color. Other investors in the fund include Bank of America and PayPal.
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The investment announced on Tuesday is part of the company s ongoing efforts to aid businesspersons of color. Last year, Mastercard launched a half-billion-dollar initiative to support Black communities in the United States.