Santander launches €100m fund for startups

Santander has announced the launch of a €100 million fund for startups.

The bank said its initial contribution to the fund will be €67 million, while the remaining €33 million will come from its partner, the asset manager Inveready, and other investors, making it the “biggest venture debt fund in Spain”.

Santander added that it would also be launching a complement of products and services for “innovative, scalable startups” and companies that show growth potential.

Such services will include tailored credit lines to help early-stage companies ‘get off the ground’, with a unique risk circuit and channel adapted to startups, the bank said.

Startups can also become members of Santander X, the bank's global social impact initiative to support entrepreneurs.

“We’re delighted with the launch of this proposition for startups,” said Ángel Rivera, chief executive of Santander Spain. “Entrepreneurs will have access to a range of solutions that help them not only get off the ground but also grow faster, which will undoubtedly have a positive impact on Spain's innovation and entrepreneurship ecosystem.”

    Share Story:

Recent Stories

Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.

Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.

Click here to read the 2023 State of the Phish report from Proofpoint.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.

Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.