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Mastercard backs Polish startup factory

Mastercard backs Polish startup factory

Mastercard is joining forces with Polish corporate innovation centre The Heart to open a 'startup factory' that builds financial services-focussed tech firms.

The Heart Ventures will launch five startups next year in sectors such as fintech, insurtech and retailtech.

The terms of Mastercard's investment have not been disclosed but the card giant is promising that its innovation labs from around the world will work closely with the Heart Ventures.

Bartosz Ciołkowski, country manager Poland, Mastercard, says: "Together with The Heart and partners, we will build new companies and open global markets for them."

The Heart was recently named as one of several firms picked by Poland's financial supervision authority to run regulatory sandboxes for fintech startups.

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