Amazon Web Services has partnered with VC firm WellStreet to launch a FinTech loft in Sweden.
Wellstreet invests in early stage ventures of which some have a FinTech focus.
The loft involves a twoyear program for early stage startups within the FinTech, RegTech and InsurTech space.
Startups can expect between €50200,000 as well as access to mentorship and office space.
What does this mean?
The initiative also includes a banking partner which is soon to be announced. It will start with up to 10 investments in 2020. According to Wellstreet, the program aims to set itself apart from other incubators by being in “the driver’s seat”, helping FinTech build their minimum viable product and secure further investment.