BNP Paribas extends its influence on fintech sector establishing a new investment fund

23 February 2018

BNP ParibasBNP Paribas, French international banking group, announced the launch of its new investment fund aimed at supporting cutting-edge fintech startups in a move to expand its stake portfolio with more innovation-based financial and insurance technology firms. According to the official statement the new fund will be managed by BNP Paribas Capital Partners and will be making indirect investments through Venture Capital funds focused on technology companies in the sphere of artificial intelligence, blockchain and cybersecurity.

Last year BNP Paribas already mentioned about its plans to establish the ‘bank of the future’ and has since made lump sum investments in an array of fintech companies including Serena Data Venture, Viola Fintech, Ventech China, Symphony, Gambit, Caple with the acquisition of a 95% stake in Compte-Nickel.

Jacques d’Estais, group deputy COO and head of international financial services, speaking for BNP Paribas, noted that the group believes that innovations have a power to drive the necessary transformation to bring their goal of creating the bank of the future to its success while building the foundation for higher customer experience with more value-added services and instruments. The introduction of the new fund comes in line with the overall strategy of BNP Paribas to benefit from the ongoing trend in the financial technology industry and support innovative initiatives.

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