Mediobanca Group, one of Italy’s largest investment banks, has partnered with Founders Factory, the London-based global company builder and early-stage investor, to launch a new fintech venture studio and accelerator. 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 as well as further boost support for Italy’s thriving startup ecosystem.
The Mediobanca/Founders Factory 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. In tandem, 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.
According to this joint venture, selected entrepreneurs will benefit from access to vital startup capital, Founders Factory’s global network, world-class operational support and fintech expertise, together with Mediobanca’s commercial access and knowledge to multiple routes to financial practices – from wealth management to consumer banking.
The partnership with Founders Factory fits into Mediobanca’s 2023-26 “ONE BRAND – ONE CULTURE” Strategic Plan, which envisages a significant strengthening of the Group’s technology ecosystem. The Group’s digital agenda includes, as priorities 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.
“In recent years we embraced the opportunities technology has created in the financial sector. We have done so in Wealth Management with the launch of CheBanca!, in Consumer Banking with investments in Buy Now Pay Later as well as in Corporate and Investment Banking with the recent partnership signed with Arma Partners. We want to continue to serve the talent of our people and the user experience of our customers with the most advanced tech solutions,” commented Alberto Nagel, CEO of Mediobanca.
Founded in 2015, Founders Factory is a leading global fintech authority, having established a long-term relationship with UK financial services operator, Aviva, and building and investing 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 establishes itself as a key figure in Italy’s startup ecosystem, which continues to go from strength to strength.
Henry Lane Fox, CEO of Founders Factory, added: “Mediobanca is one of Italy’s leading financial institutions with a 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.”
