LONDON, October 18, 2018. BBVA today announced a partnership with leading fintech venture investor and builder Anthemis Group (Anthemis) 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.
The partnership will see BBVA expand its footprint in the fintech ecosystem while enabling Anthemis to continue its mission to cultivate change in financial services. BBVA and Anthemis expect to help startup founders find fintech business opportunities, initiate projects, and see them develop from conception through to the seed capital round of financing.
The partnership will also complement BBVA's current startup activity, where the bank creates, invests in, and collaborates with companies in the fintech ecosystem through its venture capital fund Propel and its New Digital Businesses (NDB) unit that promotes disruptive entrepreneurship and the creation of fintech startups.
“This agreement will help us realize growth in our capacity to promote, create, and advance U.K. and international fintech projects outside of our core markets.
“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.
“Anthemis’ experience both in the U.K., Europe and increasingly across the U.S. makes them the best possible partner for this project,” explained Ian Ormerod, BBVA's Head of New Digital Businesses.
Anthemis Founder and President, Amy Nauiokas, continued: “BBVA shares our passion for transforming financial services for the Information Age. The company has played a tremendous role supporting innovation in the fintech ecosystem globally for many years.
“To that end, BBVA is a perfect partner for Anthemis to align with as we seek to find the next opportunity spaces for early-stage entrepreneurs inside an industry still so ripe for change.”
Anthemis brings its deep knowledge of global fintech trends, a rich network of like-minded innovators, as well as a solid track record of fintech investment to the collaboration. As part of the agreement, a specialized team will be appointed that represents both BBVA and Anthemis and is responsible for the management of the studio and its projects.