8.6 C
New York
Sunday, January 16, 2022
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

Revolut is launching as a bank in 10 more European countries

This means the London-based digital bank is now offering deposit protection of up to € 100,000 to local customers in the particular markets.

Starling has stopped advertising on Facebook and Instagram

The CEO Anne Boden says the company won’t advertise on Facebook or Instagram ‘alongside scammers who are going after the savings of our customers.

Commodities trading now enabled by Revolut for Singapore users

The Monetary Authority of Singapore (MAS) has given permission to Revolut to allow customers to trade gold and silver on its platform.

Tencent takes stake in Monzo Bank

The tech giant from China Tencent has taken a minor stake in Monzo Bank after joining Monzo's latest funding round.