Financial news

Mediobanca Group, Italy’s largest investment bank, has partnered with London-based Founders Factory, the global company builder and early-stage investor, to launch a new fintech venture studio and accelerator.

The new strategic alliance is underpinned by a €12million investment from Mediobanca, which aims to facilitate innovation in financial services by supporting international early-stage fintech startups as well as further boost support for Italy’s thriving startup ecosystem.

Mediobanca Group and Founders Factory’s plan is to 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.

Founders Factory and Mediobanca also revealed plans to launch a new accelerator programme to invest in and support more established early-stage fintech ventures in Italy and internationally.

Alberto Nagel, CEO of Mediobanca, discussed the launch: “In recent years we embraced the opportunities that 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 and we want to continue to serve the talent of our people and the user experience of our customers with the most advanced tech solutions.

“With this joint venture we will seize new opportunities, further strengthening the Group’s technology ecosystem, also through the adoption of innovative models that will allow us to respond effectively to market expectations.”

Selected entrepreneurs will benefit from access to vital startup capital, Founders Factory’s global network, operational support and fintech expertise, alongside Mediobanca’s commercial access to and knowledge of multiple routes to financial practices – from wealth management to consumer banking.

A “powerful platform to back fintech founders”

Henry Lane Fox, CEO of Founders Factory, commented: “Mediobanca is one of Italy’s leading financial institutions with 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.”

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.

Fabio Troiani, chairman of Founders Factory Italy, also discussed the partnership: “Mediobanca stands out as a trailblazer among Italian banks, showcasing a truly innovative management vision. By collaborating with Founders Factory, they are aligning with a cutting-edge player in the field. Founders Factory’s pioneering approach, blending operational support, venture capital, and innovation design, has consistently delivered transformative innovation and venture capital returns to corporate partners like Mediobanca over the past seven years.”