8.6 C
New York
Wednesday, February 24, 2021
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

TransferWise gets rebranded as ‘Wise’

The rebranded company Wise drops the part Transfer as a signal of moving on from the money-transfer focus of the company.

Revolut about to increase fees and cut number of free trades

Revolut introduced additional fees on its free plan and trading on the Revolut platform will also become more expensive.

Exclusive: An interview with Michael Schweikart, a co-founder of the sustainable banking provider Tomorrow

Tomorrow is a social business FinTech company and a neobank, that was started in 2018 by founders Inas Nureldin, Jakob Berndt, and Michael Schweikart with a vision to use money as a lever for positive change. Since its launch in 2018, the company has 50+ employees and 55,000+ customers.

N26 introduces 100% digital account

The German digital bank has just announced the launch of a 100% digital N26 Standard account equipped with a virtual card.