European FinTech growth investor Speedinvest has partnered with Raiffeisen Bank International and UNIQA Insurance Group to supply ?50m to late-seed and Series A companies.
The partnership will see Raiffeisen Bank International and UNIQA each contribute ?15m for FinTech investments. Raiffeisen will look to make deals through its CVC company Elevator Ventures.
Speedinvest f invests across the European payments, alternative lending, insurance, investments, personal finance, data, compliance and infrastructure sectors. Typical deal values range between ?1m and ?4M.
Investors into Speedinvest f include a global selection of former FinTech founders and senior financial services experts, as well as New Enterprise Associates.
Founded in 2012, the firm has created a big portfolio of FinTech companies. Last week, Speedinvest contributed to the ?3.5m funding round of Austria-based cashpresso, an online credit facility supplier for the e-commerce sector.
This month also so the closing of a ?10m Series A round of SME financing comparrison platform FinCompare, in which Speedinvest supported.
Other FinTechs in its current portfolio include RegTech solution provider Clausematch, POS provider Payworks and digital currency account Loot.
Speedinvest partner Stefan Klestil said, ?The FinTech revolution in Europe is entering its next stage of development. Our task now is to support the best teams in Europe with smart growth capital in order for them to successfully scale across Europe, and as such drive the establishment of the Single European Financial Market.
?During the past years, we successfully supported the founders of N26, Wefox, Iyzico, Payworks, Billie, Fincompare, Cashpresso and many others????now were ready to back the next wave of champions!p>
Capital injections is not all Speedinvest offers companies, with it also offering operational support such as business development, corporate development, hiring, fundraising, and internationalisation.
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