Jacksonville, Florida-based Financial technology company FIS (NYSE: FIS) has launched FIS Ventures, its corporate venture investment division.
FIS Ventures will invest $150m globally in early to growth-stage fintech startups with a focus on emerging technologies such as artificial intelligence and machine learning, digital enablement and automation, data and analytics, security and privacy, distributed ledger technology, and financial inclusion.
In addition to capital investments, FIS Ventures will actively partner with these companies, providing proprietary access as appropriate to FIS’ global reach and scale, operating expertise, diverse customers and channel partners to fulfill their long-term growth ambition.
The first investment was made in Nigeria-based fintech startup Flutterwave.
The launch of FIS Ventures will complement other key initiatives such as the annual FIS FinTech Accelerator program, the annual FIS Innovatein48 research and development competition, and FIS innovation labs around the world.
FIS is a provider of technology solutions for merchants, banks and capital markets firms globally via its more than 55,000 people. FIS is a Fortune 500® company and is a member of Standard & Poor’s 500® Index.