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.

It has already invested in a number of companies around the world including London-based Startups 100-featured blockchain intelligence firm Elliptic.

The announcement comes in the wake of NatWest’s commitment of £1bn to support small businesses in England and Wales and HSBC’s $150m funding line for European 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.”

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