Italy’s largest investment bank, Mediobanca Group, has signed a partnership with Founders Factory, the London-based global company builder and early-stage investor. As per the partnership, they will launch a new fintech venture studio and accelerator.
This move is a significant boost to not just the fintech world but also Italy’s booming startup economy, which is already seeing fintech unicorns like Satispay take to the global stage.
To invest in 35 fintechs in 5 years
This joint venture, underpinned by an overall €12 million investment from Mediobanca, will facilitate innovation in financial services by supporting international early-stage fintech startups and further boost support for Italy’s thriving startup ecosystem.
The joint venture will build and invest in 35 fintech businesses over the next five years. The venture studio will build, finance and launch new fintech ventures that utilise advanced technologies, such as blockchain and AI, to innovate the financial services market in synergy with Mediobanca’s strategy and capabilities.
Also, Founders Factory and Mediobanca will operate a new accelerator programme to invest in and support more established early-stage fintech ventures in Italy and internationally.
“With this joint venture we will seize new opportunities, further strengthening the Group’s technology ecosystem, also through the adoption of innovative models that will allow us to respond effectively to market expectations,” concluded Alberto Nagel, CEO of Mediobanca.
Henry Lane Fox, CEO of Founders Factory commented; “Mediobanca is one of Italy’s leading financial institutions with reach extending throughout Europe. It makes them the ideal partner for Founders Factory as they recognise the importance of technology’s role in the future of financial services and the systemic change it can bring. Combining our venture building capabilities and fintech experience with Mediobanca’s heritage, financial prowess and global ambition creates a powerful platform to back fintech founders”.
Why Founders Factory?
Founders Factory is a leading global fintech authority that has a long-term relationship with UK financial services operator, Aviva. It also builds and invests in nearly 50 financial technology ventures, including Acre, Qumata, and ClearGlass.
This new partnership with Mediobanca further cements the organisation’s commitment to the fintech sector as well as establishing itself as a key figure in Italy’s startup ecosystem, which continues to go from strength to strength.
Fabio Troiani, Chairman of Founders Factory Italy added “Mediobanca stands out as a trailblazer among Italian banks, showcasing a truly innovative management vision. By collaborating with Founders Factory, they are aligning with a cutting-edge player in the field. Founders Factory’s pioneering approach, blending operational support, venture capital, and innovation design, has consistently delivered transformative innovation and venture capital returns to corporate partners like Mediobanca over the past seven years”.
“ONE BRAND – ONE CULTURE” plan
The partnership with Founders Factory fits into Mediobanca’s 2023-26 “ONE BRAND – ONE CULTURE” Strategic Plan. This plan envisages a significant strengthening of the Group’s technology ecosystem.
The Group’s digital agenda includes the enhancement of digital channels in order to propose a more effective customer experience, the evolution of digital platforms and the adoption of artificial intelligence solutions to support the sales force, and a digitalisation and automation path aimed at cost optimisation.
“The partnership with Founders Factory is a fundamental step in the three-year roadmap envisaged by the ONE BRAND – ONE CULTURE plan” added Marco Pozzi, Group COO of Mediobanca, “and will enable us to accelerate the innovation paths that characterise the Group’s industrial strategy. The systematic collaboration with some of the most interesting startups in the international market will allow us, on the one hand, to contribute to the growth of an extremely high-potential market such as fintech, and, on the other, to transform existing systems by developing distinctive and highly innovative solutions.”
