8.6 C
New York
Tuesday, November 24, 2020
Home Industry FIS ventures will invest $150m in fintech startups

FIS ventures will invest $150m in fintech startups

FIS Ventures is a venture capital arm of financial technology firm FIS and it has set a target to invest $150 million in promising fintech startups.

They are set to invest globally and in early to growth-stage fintech startups with the main focus on emerging technologies.

Read also: Digital banks downloads drop in lockdown

The “emerging technologies” consider artificial intelligence and machine learning, digital enablement and automation, data and analytics, security and privacy, distributed ledger technology, and financial inclusion.

An interesting older interview with FIS’s CEO

“At a time when many other fintech firms are scaling back their investments, FIS is deepening its commitment to stay at the forefront of innovative technologies that can help our clients accelerate digital transformation and emerge even stronger from the current pandemic,” said Asif Ramji, chief growth officer of FIS.

“FIS Ventures is a significant new component of our investment strategy to identify and bring to market innovative new technologies that advance the way the world pays, banks, and invests.”

Read also: What are the long-term effects of Covid 19 pandemic for UK Fintech firms?

For example, they recently announced funding in the Nigeria-based fintech startup Flutterwave. This marks the first investment made by FIS Ventures.

This venture fund and the whole cooperation with the invested startups will complement FIS’s existing incubation programs. This includes the annual FIS FinTech Accelerator program, the annual FIS Innovatein48 research, development competition, and FIS innovation labs.

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Exclusive: Interview with Matias Peltoniemi, CFO at CrediNord

CrediNord's CFO, Matias Peltoniemi, has provided Everly.eu with an exclusive interview in which he addresses the current challenges of the company, the state of the Fintech and lending world, and what he believes is the future of Fintech and lending.

Lisa Nowell left Monzo Bank after year in CRO position

After about a year Lisa Nowell joined Monzo as its first chief risk officer, she decided to leave to work as an SME lender Ashman Finance, Sifted reported.

Revolut and TrueLayer are bringing Open Banking to users in Germany

With the new Open Banking function (linked accounts), Revolut customers can now link all their bank accounts at Comdirect, Commerzbank, Deutsche Bank, ING-DiBa and Sparkasse in the Revolut app.

The Everly Summary (weekly TOP5 news)

Welcome to Everly.eu’s weekly summary. Let's see the most important news we have covered during the last week in a TOP 5 list!