Italian bank is teaming up with Founders Factory in bid to increase its presence in UK and tech sector
In brief:
- Mediobanca has joined forces with a London-based start-up investor in a bid to launch more than 30 fintechs over the next five years
-The Italian bank has established a joint venture with Founders Factory, whose co-founders include Brent Hoberman, as the lender seeks to strengthen its presence both within the UK and the wider tech sector.
-It will invest €12mn in the joint venture and look to back fintechs, particularly those with a focus on technologies such as blockchain and artificial intelligence.
What does this mean?
“Combining our venture-building capabilities and fintech experience with Mediobanca’s heritage, financial prowess and global ambition creates a powerful platform to back fintech founders,” said Henry Lane Fox, Founders Factory chief executive.
