Italy’s leading investment bank, Mediobanca Group, has recently partnered with London-based global company builder and early-stage investor, Founders Factory, to launch an exciting new fintech venture studio and accelerator. This collaboration is set to propel the fintech industry and bolster Italy’s burgeoning startup economy, which is already witnessing the rise of fintech unicorns like Satispay making waves on the global stage. With a significant €12 million investment from Mediobanca, this joint venture aims to support international early-stage fintech startups and contribute to Italy’s thriving startup ecosystem.
Over the next five years, the partnership plans to build and invest in 35 fintech businesses. The venture studio will focus on creating and launching innovative fintech ventures that leverage cutting-edge technologies such as blockchain and AI to revolutionize the financial services market, aligning with Mediobanca’s strategic vision. Additionally, the partnership will operate an accelerator program to support more established early-stage fintech ventures, both in Italy and internationally.
Mediobanca’s CEO, Alberto Nagel, expressed enthusiasm about the venture, emphasizing its potential to enhance the Group’s technology ecosystem and meet evolving market demands. Henry Lane Fox, CEO of Founders Factory, echoed this sentiment, praising Mediobanca as an ideal partner that recognizes the pivotal role of technology in shaping the future of financial services.
Founders Factory’s extensive experience in the fintech sector, including successful collaborations with financial services operator Aviva and investments in nearly 50 fintech ventures, demonstrates its credibility and commitment to driving fintech innovation. Fabio Troiani, Chairman of Founders Factory Italy, acknowledged the innovative approach and transformative outcomes delivered by Founders Factory, showcasing their readiness to partner with trailblazing institutions like Mediobanca.
The partnership aligns seamlessly with Mediobanca’s “ONE BRAND – ONE CULTURE” Strategic Plan for 2023-26, which emphasizes strengthening the Group’s technology ecosystem. This involves enhancing digital channels for a more effective customer experience, adopting AI solutions to support the sales force, and implementing digitalization and automation for cost optimization.
Mediobanca’s Group COO, Marco Pozzi, emphasized the partnership’s significance in accelerating the Group’s innovation journey, fostering collaboration with promising startups in the international fintech market, and driving transformative solutions.
The collaboration between Mediobanca and Founders Factory holds the promise of revolutionizing Italy’s fintech landscape, nurturing disruptive innovation, and reinforcing the country’s position as a thriving hub for fintech startups. By harnessing the power of technology and innovative thinking, this partnership is poised to reshape the future of financial services and solidify Italy’s status in the global fintech ecosystem.
Credit Founder Factory