Financial technology leader FIS has not just created a new corporate venture arm, but also given it $150m to inject into promising FinTech startups.
FIS Ventures is set to invest $150m in new enterprises in the global sector over the next three years.
The corporate investment arm will especially look to target early growth-stage startups that use emerging technologies such as artificial intelligence and machine learning, digital enablement and automation, data and analytics, security and privacy, distributed ledger technology and financial inclusion.
In fact, FIS Ventures has already made good on that pledge by participating in Nigeria-based FinTech startup Flutterwave’s $35m Series B round in January.
“At a time when many other FinTech firms are scaling back their investments, FIS is deepening its commitment to stay at the forefront of innovative technologies that can help our clients accelerate digital transformation and emerge even stronger from the current pandemic,” said Asif Ramji, chief growth officer of FIS. “FIS Ventures is a significant new component of our investment strategy to identify and bring to market innovative new technologies that advance the way the world pays, banks and invests.”
FIS Ventures not the only investor to announced the launch of a new investment drive in the last few days. Earlier this week, Partech revealed it had closed a $100m fund that it would use to inject money into promising startups, including ones in the FinTech industry.
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