Venture capital invests in Fintech: Santander innoventures, Propel Venture Partners
29/07/2016
Diego Gutiérrez
Venture capital invests in Fintech: Santander innoventures, Propel Venture Partners
Technology in the financial sector is gaining strength and banks do not want to be left behind, proof of this is that we have recently learned that Santander has increased its fintech fund and BBVA has made a new investment through Propel.

Santander InnoVentures increases its fintech investment funds by $100M

This fund was created in 2014 and its investments in minority stakes in startups could now reach $200M, up from the initial $100M. Santander InnoVentures has invested in market-leading Fintech companies such as Source (digital identity), SigFig (wealth management), Ripple, Digital Asset, Elliptic (blockchain), Kabbage (SME financing), Cyanogen (mobile ecosystems), and MyCheck and iZettle (payments).

The participation of Santander InnoVentures in companies goes beyond a financial investment in entrepreneurial capital. The fund provides capital, but also facilitates access to the clients of Santander Group, a global financial institution operating in ten major markets in Europe and the Americas, serving more than 120 million customers. In addition, InnoVentures portfolio companies gain access to the Group's regulatory, operational and technology experts.

Santander aims to become one of the leading banks in the introduction of innovative technologies, in order to respond to the needs of its customers. It is also headquartered in London, a strategic location for this sector.

Propel Venture Partners invests in pension startup Guideline

Propel Ventures is a venture capital firm in which BBVA has recently invested US$250M, to invest in Fintech. Since its launch in February this year, it has already invested in three Fintech startups and now it has just announced its fourth investee: Guideline., an online platform for the management of US pension plans, known as 401(k) plans.

Ryan Gilbert, partner at Propel, points out that Guideline is a very attractive opportunity due to the market opportunities and the company's approach. "The US retirement plan market is huge, having grown from US$4.4 trillion in 2014 to over $6 trillion in 2016. However, those participating in small 401(k) plans pay exorbitant management fees, ranging from 0.68% to 2.66%.

Fintechs gain momentum in Spain

Finnovista has recently published the Fintech Radar Spain, which contains interesting data on the state of the art of the Fintech sector in Spain. 207 Fintech startups make Spain the largest Fintech innovation market in Latin America, well above the 130 in Brazil, 128 in Mexico, 77 in Colombia and 56 Fintech startups in Chile.

Specifically, the Fintech segments with the most activity, innovation and dynamism in Spain are: Payments & Remittances (24%), Lending (25%), Enterprise Financial Management (11%), Crowdfunding (10%), Insurance (8%) and Personal Finance Management (10%).

If you are looking for funding for your startup Abra can help you, call +34 946424142 or fill in the contact form.

Other posts that may interest you

Spain-based Spocat Fintech receives €31M

Fintech boom prompts banks to make a move

The fintech sector of choice for investors in Spain

Lastest news

Latest transactions in the Machine Learning sector

Las recientes adquisiciones en el sector del Machine learning ponen de relieve la creciente importancia estratégica de la innovación impulsada por la IA. Las empresas están invirtiendo mucho en plataformas avanzadas de análisis y datos, centrándose en integrar...

Latest transactions in the Data Analytics sector

Se han realizado diferentes adquisiciones estratégicas de empresas del sector de Data Analysis en los últimos meses, lo que pone de relieve el creciente énfasis en soluciones innovadoras y capacidades mejoradas. Las empresas recurren cada vez más a las adquisiciones...

Software Application 2023 Sector Valuation Report

Sector Software Application: análisis del mercado y tendencias del sector El Informe de Valoración de la Industria del Software Application 2023, elaborado por los asesores de compraventa de empresas del sector Tech de Baker Tilly, ofrece un análisis detallado y...

Latest transactions in the Artificial Intelligence sector

El sector de la inteligencia artificial está siendo testigo de una dinámica oleada de adquisiciones, reflejo de su rápida evolución y de su creciente importancia en diversos sectores. La compraventa de empresas del sector tecnológico pone de relieve los movimientos...

Do you want to sell or buy a company?

We are experts in M&A transactions in the technology sector.

Subscribe to our newsletter

Request for information

If you want to buy or sell a company, or need more information about our services, do not hesitate to contact us through the form.

Or if you prefer, call us at:

+34 946 42 41 42