Banco Sabadell highlights commitment to startup ecosystem
28 February 2017 | 4468 views | 0
Reflecting the growing trend for banks to partner with young technology companies, Spain's Banco Sabadell is highlighting its activity in the entrepreneurial ecosystem over the past three years, supplying funding for 2300 growth companies and investing EUR96 million in startups.
Sabadell says its funding commitment to early-stage firms amounted to over €90 million, and investment in capital through its investment vehicles BStartup10 and Sabadell Venture totalled €6 million.
As a result, Banco Sabadell has over 2,300 customers who are start-ups, and it invests in the capital of 35 companies.
Banco Sabadell’s entrepreneurial spirit is evident in the bank's support of 4YFN, the start-ups summit which was created four years ago as part of the Barcelona Mobile World Congress. At this year's summit, the bank will present 13 start-ups in which it invests.
The Spanish bank has also invited Ethereum prodigy Vitalik Buterin to participate in a blockchain hackathon at the Barcelona event to mentor teams of developers working to produce new models for the application of smart contracts in financial services.