Nordea establishes FinTech VC fund
Written by Chris Lemmon
Nordic bank Nordea has established a fund to make strategic investments in FinTech startup companies, supporting the bank’s strategy of building a digital bank.
Nordea has already partnered with and invested in FinTech firms to help develop new solutions faster than the bank could do on its own. Nordea Ventures will further accelerate the rate of bringing innovative products and services to market for its customers.
Nordea Ventures will focus on investments offering mutual strategic value, scalable business models and unique solutions. Investments are mainly, but not exclusively, expected to be in companies which have a Nordic focus. The number and size of investments will vary according to our aim of supporting and accelerating innovation in order to strengthen our offering.
Casper von Koskull, president and group CEO of Nordea, commented: “We want to play an active role in developing new technologies for the financial sector from early on. It’s not just about providing capital, but also about engaging with start-ups and sharing our expertise. This will benefit Nordea and the companies we invest in, but most of all our customers.”
Ewan MacLeod, chief digital officer at Nordea, added: “We need to be where the innovation is taking place. That’s why we’ve already been very active in the FinTech space. Establishing Nordea Ventures is a natural next step toward engaging with and supporting the wider financial ecosystem.”