ABN Amro doubles down on fintech venture fund

ABN Amro doubles down on fintech venture fund

ABN Amro has doubled the size of its fintech venture fund from EUR50 million to EUR100 million, as it continues its search for startups with potential to reshape the future of financial services.

ABN Amro first launched its venture investing arm three years ago with a modest EUR10 million. Following successful investments in Tink, BehavioSoc and Cloud Lending Solutions, the warchest was expanded to EUR50 million. In the past year, the Dutch bank has injected cash into a range of national and international startups, such as solarisBank, Ockto, Crosslend, ThetaRay, Tealium and Trifacta.

To date, the fund has made nine new investments, four follow-on investments and has had one exit - Cloud Lending Solutions.

ABN Amro Ventures director Hugo Bongers says the new capital will enable the bank to further build on its investment strategy and ecosystem approach.

“Since the start of the fund we’ve seen great value in partnering with early-stage tech companies," he says. "By making investments, we aim to strengthen the strategic relationship and enhance ABN Amro’s products and services in a fast-changing environment to create added value for our clients.”

Comments: (0)