Santander secures $100m to invest in UK fintech
Bank's InnoVentures venture capital fund launched in 2014 and is now set to deploy $200m for minority stakes in fintech start-ups
London-based Santander InnoVentures, the financial technology (fintech) venture capital fund fully-owned by the Santander Group, has secured another $100m to invest in the UK’s fintech business community.
Launched in 2014, its VC fund now has the capacity to deploy $200m in exchange for minority stakes in fintech start-ups.
Ana Botín, group executive chairman of Banco Santander, said:
“The fund’s base in the UK has allowed it to benefit from London’s position as a fintech hub, while talent-spotting our investments on a global basis. Santander remains committed to the UK and excited about its fintech enterprises.”