BBVA and Anthemis create hub to nurture next gen start-ups
BBVA has teamed up with fintech venture investor and builder Anthemis Group to build a venture creation studio in London.
“The studio will create value by deploying capital and resources to building businesses that address untapped user needs and attract the best fintech entrepreneurs,” BBVA explains.
The two parties want “to help start-up founders find fintech business opportunities, initiate projects, and see them develop from conception through to the seed capital round of financing”.
The partnership will complement BBVA’s current start-up activity, which includes its venture capital fund Propel and its New Digital Businesses (NDB) unit that promotes disruptive entrepreneurship and the creation of fintech start-ups.
“The aim is simple, find the very best fintech ideas – the ones that are real game-changers and that will improve people lives and the way businesses operate, and then support their growth,” states Ian Ormerod, BBVA’s head of new digital businesses.
As part of the agreement, a specialised team will be appointed that represents both BBVA and Anthemis and is responsible for management of the studio and its projects.