ABN AMRO Bank NV, a prominent Northwest European bank, has proclaimed its strategic alliance with Motive Partners, a distinguished international private equity firm that excels in technology-enabled financial and business services investments.
This collaboration signifies a mutual dedication from two prominent FinTech investors to promote persistent innovation and growth amidst the dynamic FinTech arena.
ABN AMRO, headquartered in Amsterdam, is a Northwest European bank catering to retail, corporate, and private banking clients. They strive to be a personalised bank in this digital age, ensuring a transition to a sustainable society with their clientele. Motive Partners, on the other hand, specialises in venture, growth equity, and buyout investments in the financial and business services sector, facilitated by technology.
In light of the decline in financial services industry funding by 70% between 2021 and 2022, and the subsequent reduction of investment programmes by various venture capitalists, both entities are charting a revitalised trajectory. Their combined objective is to invigorate the FinTech sector by incorporating Motive Partners’ vast ecosystem into the AAV portfolio, further extending to ABN AMRO’s expansive network. The synergised AAV-Motive Ventures portfolio will consequently comprise 36 firms.
The alliance hinges on two primary facets. Firstly, Motive Ventures is set to oversee AAV’s operations, boasting €150m in assets, utilising Motive Partners’ comprehensive expertise. To facilitate this, Hugo Bongers and Tim Wanders from ABN AMRO will be integrated into Motive Ventures. Secondly, ABN AMRO’s substantial investment in Motive-managed vehicles emphasises its continuous commitment to pioneering FinTech innovation alongside Motive Partners.
The culmination of this strategic partnership is anticipated in Q4 2023, with both Hugo Bongers and Tim Wanders joining the Motive ensemble prior to the year’s end.
ABN AMRO Chief Strategy & Innovation Officer Edwin van Bommel said, “Our collaboration with Motive Ventures is a major milestone for ABN AMRO. We believe that joining forces with a definitive leader in the rapidly evolving FinTech landscape will not only drive innovation but also enhance our competitive edge. This partnership will strongly support our strategic ambition of being a personal bank in the digital age for our customers.”
Partner at Motive Partners and Head of Motive Ventures Ramin Niroumand said, “ABN AMRO has long been a leader among financial institutions in European fintech investing. With portfolio companies like Tink and Penta, they have already demonstrated great investments and exits, and a deep understanding of how to deliver strategic value to the global ecosystem. We have already worked together on several co-investments, which is why we are so happy that Hugo and Tim are joining the Motive Ventures team.”
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