BNP Paribas strengthens FinTech focus with Anthemis investment

It's the latest tech play from the major French bank

In Brief:

BNP Paribas is investing in global venture capital platform, Anthemis, as it looks to strengthen its focus on FinTechs.

The bank's Global Markets Strategic Investments unit, which invests in high-growth FinTech companies, is being used to make the investment.

Last month, BNP Paribas and JP Morgan backed FinTech firm Saphyre in a $18.7 million Series A funding round. Other recent Global Markets investments include Kantox, Symphony and Forge.

What does this mean?

Investing in Anthemis fits with the banks’ strategy to improve its value chain and services through partnerships with technology companies. It also helps it weigh up co-investment opportunities that will develop the next generation of FinTech success stories.

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