Rabobank has launched a EUR60 million venture fund to invest in early-stage fintech and food and agri companies.
Rabo Frontier Ventures (RFV) will focus on companies that dovetail with the bank’s strategic direction across four main themes: 'Financial cruise control', platform banking, emerging technologies as a business model enabler and Data4Food.
The bank's existing investment in blockchain network we.trade and spare change investment app Peaks - both graduates from Rabobank's internal 'Moonshots' accelerator programme - will form the foundation for the portfolio.
Harrie Vollaard, responsible for Rabo Frontier Ventures says: "We have already launched a number of successful innovations through our own internal accelerator programme. RFV provides Rabobank with an added vehicle for working more shoulder-to-shoulder with innovative businesses with the aim of transforming the fintech and food & agri sector and building a sustainable and future-proof banking model.’