Banking group UniCredit has committed approximately €200m to invest in fintech companies worldwide.
To this end, The bank has signed a partnership with Anthemis Group, a London, UK and NYC-based venture capital and advisory firm that focuses exclusively on fintech.
According to a note, Unicredit aims to invest in fintech companies in order to turn a threat into an opportunity, enriching the business proposition and speeding up the digital evolution program of the group.
UniCredit will invest through two dedicated vehicles, as follows:
– a €175m equity fund focused on established startups and follow-on investments, with , and
– a $25m fund investing in early stage startups, where the bank will act as anchor investor.
Anthemis Holdings invests in digitally native financial services companies in such sectors as:
1. Retail banking & consumer finance
2. Business & corporate banking
4. Wealth & asset management
5. Capital markets & trading
6. Insurance & risk management
7. Data, technology & infrastructure
The firm currently has a portfolio of 31 companies based is US (52%), UK (30%), Continental Europe (4%) and rest of the world (15%), including Azimo, Betterment, eShares, eToro, Fidor Bank, Jumo, Metamakets, Payperks, Premise, Seedcamp, Xenapto, etc.