ITALY – Mediobanca Group, an Italian investment bank, signed a partnership with Founders Factory, a London, UK-based global company builder and early-stage investor, to launch a new fintech venture studio and accelerator.
This joint venture, underpinned by an overall €12m investment from Mediobanca, will facilitate innovation in financial services by supporting international early-stage fintech startups as well as further boost support for Italy’s startup ecosystem.The Mediobanca/Founders Factory joint venture will build and invest in 35 fintech businesses over the next five years. The venture studio will build, finance and launch new fintech ventures that use advanced technologies, such as blockchain and AI, to innovate the financial services market in synergy with Mediobanca’s strategy and capabilities. In tandem, Founders Factory and Mediobanca will operate a new accelerator program to invest in and support more established early-stage fintech ventures in Italy and internationally.According to this joint venture, selected entrepreneurs will benefit from access to capital, Founders Factory’s global network, operational support and fintech expertise, together with Mediobanca’s commercial access and knowledge to multiple routes to financial practices – from wealth management to consumer banking.Founders Factory is a global fintech authority, having established a long term relationship with UK financial services operator, Aviva, and building and investing in nearly 50 financial technology ventures, including Acre, Qumata, and ClearGlass. 24/07/2023
