FIS has announced that FIS Ventures, its new corporate venture investment division, has launched an effort to invest $150 million in promising FinTech startups over the next three years.
It will invest globally in early to growth-stage companies with a focus on emerging technologies, such as artificial intelligence and machine learning, digital enablement and automation, data and analytics, security and privacy, distributed ledger technology and financial inclusion.
In addition to capital investments, FIS Ventures will actively partner with these companies, providing proprietary access as appropriate to FIS’ global reach, operating expertise, diverse customers and channel partners.
“At a time when many other FinTech firms are scaling back their investments, FIS is deepening its commitment to stay at the forefront of innovative technologies that can help our clients accelerate digital transformation and emerge even stronger from the current pandemic ,” said Asif Ramji, chief growth officer of FIS. “FIS Ventures is a significant new component of our investment strategy to identify and bring to market innovative new technologies that advance the way the world pays, banks and invests.”
Recent funding for Nigeria-based startup Flutterwave marked the first investment made by FIS Ventures.
The launch complements other initiatives, such as the annual FIS FinTech Accelerator programme, the annual FIS Innovatein48 research and development competition, and FIS innovation labs around the world.
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