Sumitomo Mitsui teams up with NYC accelerator

Sumitomo Mitsui teams up with NYC accelerator

Japan's Sumitomo Mitsui Banking Corporation is looking to tap into America's startup scene through a partnership with New York-based Entrepreneurs Roundtable Accelerator (ERA).

ERA is New York's largest and oldest technology accelerator, with fintech startups including CardFlight, Modernlend and Popwallet among its alumni.

SMBC has invested up to $3 million in ERA's newest funds, according to Nikkei, and plans to "work closely" with the accelerator to boost the Tokyo-New York connection.

The bank intends to increase its New York presence, tapping into the city's fast-growing tech sector as it seeks to sniff out ideas to help it thrive in the digital era.

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