Founders Factory

foundersfactory

Italian Investment bank Mediobanca and the United Kingdom’s (UK) Founders Factory joined forces to a new venture studio and an accelerator program in late July. Starting with €12 million, the partnering companies intend to invest in 35 fintech businesses over the next five years. launch financial technology Founders Factory is known for building and funding startups, having established a relationship with UK financial services operator, Aviva, while supporting nearly 50 fintech ventures, including Acre, Qumata, and ClearGlass. The newly formed venture studio also plans to build, finance, and launch new fintech ventures that utilize advanced technologies, such as blockchain and (AI). Artificial Intelligence Mediobanca’s Group Chief Operating Officer Marco Pozzi said, “The systematic collaboration with some of the most interesting startups in the international market will allow us, on the one hand, to contribute to the growth of an extremely high-potential market such as fintech, and, on the other, to transform existing systems by developing distinctive and highly innovative solutions.” Meanwhile, Henry Lane Fox, CEO of Founders Factory commented, “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.” Europe’s Fintech Scene Lately, European fintech companies have been attracting investment in the millions. In fact, CNBC and market research firm Statista published a of the world’s top 200 fintech companies on 2 August 2023, which includes European firms like Adyen, Ecolytiq, BancaAideXa, Bondora, Bricksave, Conda, Crowdium and more, in the top five positions under defined categories. report But it hasn’t been all sunshine and roses. A published in October 2022 found that the deteriorating macroeconomic environment had hit European fintechs hard, “with valuations declining and access to financing becoming more difficult.” McKinsey report But the report also suggested that many European countries have flourishing fintech ecosystems, specifically in the UK and Sweden. This article was originally published by on . Akriti Seth 150sec

Italy's Mediobanca Teams up with UK's Founders Factory to Bolster Fintech Startups

Happy Friday! This week, Tech.eu tracked 12 technology M&A transactions, one IPO and 86 funding deals (totalling €280 million) in Europe, Turkey and Israel. Like every week, we listed every single one of them in , along with interesting news regarding fledgling European startups, tech investors old and new, a number of good reads published elsewhere, government and policy news, as well as an overview of interesting lists, facts and figures from a wide variety of sources. our free weekly newsletter You can subscribe to below to receive all this information in your inbox every Friday afternoon for free, but here’s : our newsletter an overview of the 10 biggest European tech news items for this week Cork, Ireland-based tech startup InfiniLED has been . 1) acquired by the Facebook-owned virtual reality company Oculus Rocket Internet-backed Wimdu is , accommodation booking platform 9flats, in hopes to rival Airbnb in Europe. 2) merging with its competitor Daniel Ek has to become both Chairman and CEO — which means Spotify likely won’t IPO in Sweden. 3) replaced Spotify co-founder Martin Lorentzon France has , which includes changes to laws surrounding net neutrality, data portability, video games, and copyright. 4) adopted a ‘Digital Republic Act’ Navya, a Lyon, France-based company that builds electric, self-driving shuttles for use in urban areas, airports, amusement parks and whatnot, has . 5) raised €30 million Swedish media group MTG has invested in Hamburg-based online game developer, InnoGames, at a €260 million valuation. 6) acquiring a 35% stake in the company Estonian Funderbeam, a blockchain-based startup for trading in growth companies, from Draper Associates, Thomson Reuters, and IQ Capital. 7) has raised $2.6 million Founders Factory, the London-based accelerator/incubator founded by Brent Hoberman, Henry Lane Fox and Jim Meyerle, have from Chinese private equity holding CSC Group. 8) partnered with and received a ‘multimillion pound’ investment Uber will in 2017 using bicycle courier services. 9) offer takeaway meal delivery services in Berlin The crisis at Ericsson deepened on Wednesday when the world’s biggest maker of mobile network equipment and tumbling sales. 10) reported a 94% plunge in quarterly operating profit Early-stage investment firm Seedcamp is having a stellar year so far, which prompted it to , which it raised all the way back in 2007. Bonus link: publicly share (excellent) performance data for its first fund

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