F10, the leading innovation ecosystem for FinTech and InsurTech, with hubs in Switzerland, Singapore, and Spain, today that it has secured a funding round in the mid single-digit million range, as well as management buy-in by the F10 executive leadership, to support expansion into new markets and strategic capabilities.
https://twitter.com/F10_accelerator/status/1517033643297972225
This funding round is led by Five T Fintech, with participation from Synpulse, Christian Frahm, Founder and CEO United Fintech, ON-POINT, and further investors. In addition to external investors joining, the F10 executive leadership team commits to the future of the F10 by taking a stake in the company in form of a management buy-in, making F10 an independent and self-funded company. SIX, a founding partner of F10, will hold a minority stake.
The funds are intended to allow F10 to grow both into new geographies, as well as in its current hubs in Europe and Asia. F10 corporate partners will benefit directly through early access to startups selected across all global programs. They will also benefit from the growing global network of partners, startups, and investors, as well as increased dealflow and collaboration support.
In the course of this funding round, F10 strengthens its investment activity. F10 will take over the team of SIX Fintech Ventures, who will continue to provide investment advice for SIX’s CHF 50 million corporate venture capital fund that invests in global startups. On top of that, F10 will provide early-stage capital to promising firms, with the first F10 Incubation fund now in the process of being raised, and build a Global Investor Network, which is a structured Investor Relationship Management program for venture investors of all stages to directly invest in F10 startups.
Andreas Iten, CEO and co-founder, F10, commented: “Securing this round of funding is the next step in our growth journey to drive innovation in the financial industry globally. We could not be more excited about the current and new investors supporting F10 in achieving this, including expanding our reach geographically, and creating a seed-fund to invest into startups in our ecosystem to drive their growth. I’d also like to thank SIX, one of our founding partners, for the support they have provided to F10 and I’m looking forward to continuing the close collaboration.”
Daniel Schmucki, CFO SIX and initiator of SIX Fintech Ventures, added: “SIX has supported the F10 mission right from the start. We are committed to F10 in growing their international community of startups, incumbents, and investors and driving technology and digital transformation forward.”
Francisco Fernandez, Chairman, FiveT Fintech, concluded: “We are thrilled to be supporting F10, and see room for exciting growth in new geographies, widening our network of fintech startups and supporting global innovation.”
Source: F10