Mastercard supports Canadian small businesses with new funding: Meet the recipients of the Mastercard x Pier Five Small Business Fund

Recipients receive a $10,000 CAD grant and access to a diverse community of peers and experts to fuel their future growth

TORONTO, Feb. 5, 2025 /CNW/ - Mastercard has unveiled the newest recipients of the Mastercard x Pier Five Small Business Fund. The Fund grants $10,000 CAD to 10 Canadian women small business owners alongside support to grow and scale their businesses. Recipients also receive a Priceless experience in Toronto providing them with expert mentorship, community building opportunities with fellow small business owners and valuable insights to further develop their businesses.

Mastercard recognizes that small business success is everyone's success. Through initiatives like the Mastercard x Pier Five Small Business Fund, Mastercard is reinforcing its dedication to small businesses and the communities they serve, highlighting the important role they play in strengthening our nation's overall prosperity and growth.

"The Mastercard x Pier Five Small Business Fund empowers talented small business owners with resources and mentorship to help them succeed well into the future," said Nishant Raina, Vice President, Small and Medium Enterprises, Mastercard Canada. "More than just a financial grant, it's a catalyst for growth and innovation, and an opportunity to showcase the future of small business in Canada."

This year's Mastercard x Pier Five Small Business Fund recipients join a distinguished group of past recipients from across Canada, representing a range of backgrounds and industries, from technology to wellness, healthcare and more:

• Boco Boco (Montreal, QC): an eco-friendly online gourmet grocery store on a mission to help consumers make sustainable purchases.
• Bruized (Toronto, ON): a sustainable snack company that rescues and upcycles perfectly good surplus food into plant-based snacks, while inspiring discussions about reducing food waste.
• Folds Wear Inc. (Calgary, AB): a clothing company founded to bring innovation, style and sustainability to healthcare uniforms using unique fabrics that support the environment and care for the wearer's skin.
• ImaginAble Solutions (Hamilton, ON): a social impact company creating assistive technology to improve the quality of life for people with hand disabilities.
• Lesley Hampton (Toronto, ON): an inclusive luxury and Indigenous fashion brand that champions diverse beauty and empowers all body types and backgrounds.
• Mahara Mindfulness (York, ON): creators of The Human Being Journal, designed to help people manage mental health, gain perspective and live fulfilled lives.
• Paintillio (Sechelt, BC): a company creating custom paint-by-numbers projects that are high quality, hands-on, collaborative and accessible to help communities grow through artistic expression and creative initiatives.
• Remix Snacks (Vancouver, BC): a dietitian-led company creating bean-based snacks with ingredients that reduce food waste.
• Shawish Market (Toronto, ON): an Indigenize custom-built and marketplace-style platform, designed to empower Indigenous entrepreneurs by eliminating vendor fees.
• The Magpie Cakery (Toronto, ON): a collaborative community kitchen designed to help local businesses thrive.

Building vital connection and community
Mastercard recognizes that in addition to financial support, mentorship and networking opportunities are crucial for small business owners to expand their businesses. Along with a $10,000 CAD grant, recipients will enjoy a Priceless experience in Toronto, where they can meet with mentors, connect with Mastercard partners, and gain valuable insights through networking with fellow recipients.

"Initiatives like the Mastercard x Pier Five Small Business Fund help to bridge the gap in access to funding, which has historically been a significant barrier to success for women entrepreneurs," said Julian Golden, Pier Five co-founder. "We're proud to be part of this initiative with Mastercard that broadens access to funding and provides distinctive mentorship opportunities to this year's cohort of deserving small business owners."

Supporting small businesses at every stage of growth
The Mastercard x Pier Five Small Business Fund is part of Mastercard's long-standing commitment to enhancing the vitality of Canadian small businesses with innovative programs, tools and solutions.

In addition to payment solutions and funding opportunities, Mastercard offers safety and security solutions like a free cyber assessment tool to help small businesses stay protected and tools designed to facilitate seamless transactions and digital enablement through the Mastercard Small Business Resource Centre. Mastercard will also continue to support small businesses with innovative, community-level support to drive sales and growth with initiatives like the recent immersive shopping experience in Fort Langley, B.C.

Understanding that mentorship and support are at the heart of small business success, the Mastercard Small Business Community provides small business owners the opportunity to learn, grow and connect with Mastercard and its partners year-round, plus gain access to resources to help manage and expand their business.

To find out more about the Mastercard x Pier Five Small Business Fund and this year's recipients, visit www.mastercard.ca/supportsmallbusiness.

About Mastercard (NYSE: MA)

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

www.mastercard.com

About Pier Five
Pier Five is a community driven organization that offers support to creative entrepreneurs and small business owners. Our mission is to empower those looking to turn their passions into full-time businesses and careers by hosting unique networking events, fundraising programs and content series across Canada. Pier Five's initiatives have connected thousands of creatives and business owners and is building one of the largest founder networks across the country, shaping culture and driving economic growth. 

SOURCE Mastercard

Media contact: Rosie McGregor, Mastercard, [email protected]