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ING launches EUR300m fintech investment fund

BBR Staff Writer Published 26 October 2017

Dutch Banking and financial services firm ING has launched €300m fund for investing in fintech companies.

ING Ventures is a new fund that will help to expand the existing portfolio of investments in the next four years.

Part of the ING’s Chief Innovation Office, the ING Ventures will assume investment methods and portfolio management based on venture capital structures.

ING Ventures, which will be totally funded internally by ING, will support ING’s businesses to accelerate the think forward strategy.

The funding will be provided to the start-ups and companies, which already derived some market traction.

ING has already launched various own innovations in the market and the new fund will be based on current approach, allowing to support the current 115 fintech strategic partnerships and investments across the globe.

ING Ventures CEO Benoît Legrand said: “ING has been very active in developing strategic partnerships and investing in fintechs that help to empower our customers to stay a step ahead in life and in business.

“This has worked very well: our current partnerships have resulted in products and services that are making the lives of our customers easier.

“Establishing this fund is yet another way for ING to use the digital revolution as a growth opportunity and help transform the bank to become the go-to platform for financial needs and become part of other platforms.”

ING offers banking services through its operating firm ING Bank. With around 51,000 employees, ING Bank offers offer retail and wholesale banking services to customers in around 40 countries.

Image: ING's new head office. Photo: courtesy of ING Group / Flickr.