Italy’s Mediobanca, one of the country’s largest investment banks, has joined forces with London-based global company builder and early-stage investor Founders Factory to launch a new fintech venture studio and accelerator. Through this partnership, the two organizations plan to invest €12 million ($14.1 million) in 35 fintech businesses over the next five years.
The joint venture aims to drive innovation in financial services by supporting early-stage fintech startups from around the world and bolstering Italy’s growing startup ecosystem. Founders Factory and Mediobanca will operate an accelerator program to invest in and provide support to more established early-stage fintech ventures in both Italy and internationally.
Startups that are selected for the program will gain access to crucial startup capital, Founders Factory’s global network, operational support, and fintech expertise, as well as Mediobanca’s commercial access and knowledge in various financial practices, such as wealth management and consumer banking.
This partnership aligns with Mediobanca’s 2023-2026 ONE BRAND – ONE CULTURE Strategic Plan, which intends to significantly strengthen the bank’s technology ecosystem. The plan includes enhancing digital channels to offer a more efficient customer experience, evolving digital platforms, adopting artificial intelligence solutions to support the sales force, and pursuing digitalization and automation to optimize costs.
Founders Factory, founded in 2015, is a prominent global fintech authority with nearly 50 financial technology ventures in its portfolio, including Acre, Qumata, and ClearGlass. The collaboration with Mediobanca marks another step for Founders Factory in solidifying its commitment to the fintech sector and establishing itself as a key player in Italy’s thriving startup ecosystem.
The joint venture between Mediobanca and Founders Factory will build, finance, and launch new fintech ventures that leverage advanced technologies such as blockchain and artificial intelligence to innovate the financial services market in line with Mediobanca’s strategy and capabilities.
By investing in fintech startups and providing them with the necessary resources and expertise, Mediobanca and Founders Factory aim to contribute to the ongoing digital transformation of the financial sector. This collaboration not only strengthens the position of both organizations in the fintech industry but also supports Italy’s drive towards becoming a prominent hub for technological innovation in the financial services sector.
