Orange and Google looking to fund fintech start-ups
According to the duo, Google will use ODV’s sourcing of start-ups to explore opportunities for co-investments in Europe, the Middle East and Africa.
Their main areas of interest are not just fintech – but lie in the “fields of new connectivities”, internet of things (IoT), cybersecurity, cloud and artificial intelligence (AI).
Carlo d’Asaro Biondo, EMEA president of Google Partnerships, says: “Orange’s ecosystem is consistent with Google’s know-how and our ability to accelerate the growth of start-ups. This partnership is a way to enhance our collective contribution to innovation in this region.”
ODV says the cooperation around financing will be extended by regular coordination meetings between the management teams of the two groups.
Last year, and in a separate development, Google launched a new initiative, Gradient Ventures, its own VC arm to seek out AI talent and invest in start-ups.