ING Invests In FinTech Start-Ups Worldwide

ING Invests In FinTech Start-Ups Worldwide

ING has reportedly launched a fintech venture fund accounting EUR 300 million for investments in promising fintech start-ups around the world.

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ING has reportedly launched a fintech venture fund accounting EUR 300 million for investments in promising fintech start-ups around the world.

ING Ventures is entirely funded by the Dutch bank ING and will be part of the chief innovation office led by Benoit Legrand, who has been a fintech head since 2015.

The fund is planning to focus on start-ups and companies that have already gained some market traction and generally concentrate on fintechs that are working in countries, where the bank has presence. The idea is to build portfolio of investments that will help ING accelerate their pace of innovation, as they wrote in their official statement.

The newly established fund will adopt the usual VC investment methods. Nevertheless, the idea is that it will contribute to the bank`s Think Forward digital strategy, according to ING.

The bank explains that the fund is available for two types of investments:

  • Seed stage investments: ING Ventures targets seed and scaling stage investments that can either disrupt ING’s core infrastructure, products and services, create beyond banking propositions and/or develop platform propositions.
  • Scaling stage investments: The companies it will invest in are generally, but not exclusively, fintechs that are active in countries where ING has a presence or where ING has the intention to expand into.

“The mission of ING Ventures is to help entrepreneurs build businesses that empower customers to stay a step ahead in life and business.”, as the bank commented.

Some of their partners are Twisto, Fintonic, and the R3 consortium, among others.

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