Santander InnoVentures, the London, UK-based based fintech venture capital fund of Santander Group, has secured a further $100m in funding from the Group’s balance sheet.
Launched in 2014, the fund is now set to deploy a total of $200m (up from the $100m originally allocated) in minority stakes in financial technology startups.
Led by Managing partner Mariano Belinky, the corporate vc fund provides capital, access to the scale of Santander Group as a global financial institution and to its experts in areas such as regulation, operations and technology. Santander InnoVentures has already invested globally fintech startups including Socure (digital identity), SigFig (wealth management), Ripple, Digital Asset, Elliptic (blockchain), Kabbage (companies financing), Cyanogen (mobile ecosystems), MyCheck and iZettle (payments).
According to Belinky, the new commitment allows the fund to continue expanding across geographies like Latin America and explore more opportunities across Europe as well as exploring new themes around artificial intelligence, machine learning, cognitive computing, digital banking and others.
FinSMEs
18/07/2016