BBVA invests $150mn in FinTech venture fund 

BBVA has added $150mn to its FinTech venture fund, Propel. 

In Brief:  

• This brings its total commitment to $400mn.  

• Propel is BBVA’s independent tech venture fund.  

• A $50mn fund will be launched next week, with two more to follow over the next two years.  

What does this mean?  

Propel Venture Partners has already invested in over 40 companies. The fund co-invests at early stages mainly, has created 10,000 jobs, and says that it gives the bank a view of the FinTech ecosystem.  

Read more here.