Posts Tagged: fintech examples

Santander announces brand new venture capital firm for fintechs

Spanish multinational banking giant, Banco Santander today announced the launch of Mouro Capital, an autonomously handled venture capital fund targeted at fintechs and similar financial services companies. The new brand name is going to replace as well as handle Santander Innoventure’s old profile of investments, which includes thirty six startups in Europe and also the Americas.

Developed in 2014, Santander Innoventure had an original $100mn allocation, which improved to $200mn following 2 years. Santander’s substitute fund is going to begin with double the preceding commitment, having $400mn allotted.

“The generation of our fintech venture capital fund in 2014 has allowed Santander to lead the sector in applying brand new systems, which includes blockchain, offering better services to the customers of ours as a result,” stated Ana Botín, Executive Chairma at Banco Santander.

“Innoventures has practically doubled the dollars invested, even with being fairly younger for a venture capital fund. Our aim is actually to build on that achievement, and by boosting the funding of ours, while giving significantly greater autonomy to the fund, we are able to be a lot more nimble and even further speed up the digital transformation of the group.”

Mouro Capital is going to target early and growth stage fintech startups, backing these businesses with its strong global network as well as fintech expertise. The tight would be lead by Manuel Silva Martínez who is seasoned with five years of know-how at Innoventures, his past two years spent leading the fund.

“By becoming increasingly autonomous, we will gain in agility, attract entrepreneurial skill to the commitment team, and therefore further format to our entrepreneurs’ success.” Martínez stated, “We are desperate to maintain on supplying strategic value to Santander, enhancing our partnership and dealing with our portfolio business enterprises to allow for the savings account in shaping fintech innovation.”

Santander has a proven track record of successful investments, this includes many fintech unicorns like Tradeshift, Ripple and Upgrade. Being well known for achieving success as well as methodology offers the trust and confidence young companies and startup depend on in investors, Innoventures, for instance, has had an inner price of returns of 25 35 % range after 2014.

Mouro Capital has added a range of bodily resources to its investment staff members, with the basic focus of enhancing business formation opportunities and partnerships inside the profile of its. Originality, utilising useful technologies as well as alliance will likely be the keys to being successful in the new opportunity.