HomeItaly-StartupsItalian incubator Digital Magics nabs €1 million from Gruppo Banca Sella

Italian incubator Digital Magics nabs €1 million from Gruppo Banca Sella

Digital Magics incubator and the Gruppo Banca Sella banking group have just announced a new €1 million partnership, which aims to accelerate innovative startups and strengthen the fintech sector.

Digital Magics is a venture incubator for innovative digital startups that offers content and services with a high technological value. Digital Magics builds and develops internet startups, working alongside their founders, investing its capital and providing acceleration services. It starts with talent and ideas, and transforms them into businesses successful in the Italian and international digital economies. The incubator promotes a culture of entrepreneurship and risk, contributing to economic growth and employment for young people.

Digital Magics offers services to support innovation, creation and the development of digital startups, supporting them in the search for new Italian, international, private and public investors to fund their successive stages of development. The Digital Magics model is unique in Italy and is based around the Digital Magics LAB: the team that identifies, analyses and launches new initiatives, providing innovative startups with digital business acceleration services for company development. Digital Magics has a track record of 40 investments in startups, having achieved 6 exits and only 4 write-offs. To date, the incubator has invested approximately €14.8 million, of which €5 million comes from exits. Currently, the average investment is around €300K.

On the other side, the Banca Sella Group is an active member of the Digital Magics Angel Network, and collaborates with the venture incubator and more than 100 selected partners in the network (private investors, institutional funds and industrial operators), who provide mentorship activities and co-invest in digital startups, particularly in the FinTech field.

Together Digital Magics and the Banca Sella Group signed an agreement for the medium-term loan of €1 million, assisted by the Guarantee Fund for SMEs. This transaction strengthens Digital Magics’ incubation and acceleration services, which are aimed at startups of its own portfolio, particularly those active in the field of innovative financial services.

At the time of listing on AIM Digital Magic’s, the Banca Sella Group was entered in the incubator’s shareholder structure.

By the way: You can find out about interesting startups from Italy in this list.

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Marko Srsan
Marko Srsan
founder @TimePrepCFA, blogger interested in startups and VC along with social media and project management, a drummer and a passionate FC Bayern Munchen fan :)

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