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BBVA increases its fintech fund to $250M

BBVA increases its fintech fund to $250M

BBVA had already invested in the Fintech sector in recent years as part of its transformation strategy to become the world's leading international digital bank. It has started 2016 strongly and has expanded its BBVA Ventures fund from $100M to $250M and has reached a management agreement with the US firm Propel Venture Partners.

Spain-based Spocat Fintech receives €31M

By 2016, investment in Spanish fintech companies is expected to triple and the number of companies operating in the sector is expected to double. 2015, with 78 companies operating in our country and funding of around €200M, has been the take-off of this sector in Spain, which according to Venture Watch was the protagonist of 9.6% of venture capital operations in Spain.

Fintech boom prompts banks to make a move

Crowdlending platforms that offer easier access to loans, in a fast way and without the need to compute in the CIRBE and other fintech business models are posing a risk for banks, which have already begun to take steps towards fintech in order to compete in this new market. The growth forecasts are very positive and it is expected that in 2015 the European Fintech market will move a volume of €7,000 M, a 237% more than in 2014. In 2014, alternative finance platforms moved €2,957M.

The fintech sector of choice for investors in Spain

The growth of fintech seems to be unstoppable: since 2008, global investment in fintech has tripled from $928M to $3,000M in 2014 and is expected to reach $8,000M in 2018. Although the countries leading the sector in Europe are the United Kingdom and Ireland, Spain is also seeing significant operations such as those carried out in Digital Origin and Peertransfer.