The studio will create value by deploying capital and resources to building businesses that address untapped user needs and attract the best fintech entrepreneurs.
The partnership will see BBVA expand its presence in the fintech ecosystem, while enabling Anthemis to continue to cultivate change in financial services. BBVA and Anthemis expect to help startup founders find fintech business opportunities, initiate projects, and see them develop from conception through to the seed capital round of financing.
The partnership will also complement BBVA’s current startup activity, where the bank creates, invests in, and collaborates with companies in the fintech ecosystem through its venture capital fund Propel and its New Digital Businesses (NDB) unit that promotes disruptive entrepreneurship and the creation of fintech startups.
The vc firm brings its knowledge of global fintech trends, a network of like-minded innovators, as well as its track record of fintech investment to the collaboration. As part of the agreement, a specialized team will be appointed that represents both BBVA and Anthemis and is responsible for the management of the studio and its projects.
With offices in London, New York, Geneva and Luxembourg, Anthemis’ portfolio includes consumer finance, banking, wealth management and capital markets; lending and payments; risk and insurance; as well as data and infrastructure companies.