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News

UBS becomes Tenity's banking partner

Friday 10 March 2023 15:09 CET | News

Switzerland-based universal bank UBS has announced becoming start-up incubator and accelerator Tenity's global strategic banking partner.

According to a UBS Switzerland representative, digitalisation is the key to future-oriented banking. The partnership with Tenity allows UBS to expand its fintech network and align ideas and solutions for the needs of its Swiss clients at an early stage. Through this partnership, UBS will become Tenity's global strategic banking partner, providing UBS with access to Tenity's global ecosystem of fintechs. 


How the partners will benefit 

With Tenity's global and local programs, as well as the cross-industry platforms and events of all Tenity hubs, UBS will benefit from a transfer of knowledge around innovation and digital trends. With UBS Next, UBS's global venture and innovation unit is also investing directly in fintechs. Through its investment in the Tenity Incubation Fund, UBS Next aims to drive fintech innovation. As stated by a Tenity representative, the success of their ecosystem depends to a large extent on the innovative capacity of the participants. Gaining UBS as a global strategic partner will help their current and future portfolio companies bring more innovation to the industry.


Switzerland-based universal bank UBS has announced becoming start-up incubator and accelerator Tenity's global strategic banking partner.

UBS’ investment in Tenity

For UBS, this is an attractive opportunity to invest in early-stage fintechs. According to a UBS representative, the bank believes it’s important to partner with and invest in early-stage fintech and tech start-ups to help drive innovation across UBS and the financial services industry more broadly. The UBS has now added Tenity Incubation Fund to its investment portfolio and plans to work with them to support its community of entrepreneurs.

Tenity’s features 

Tenity was founded by the Swiss stock exchange SIX in 2015 under the name F10. The fintech is a startup incubator and accelerator with an integrated investment arm that invests in innovative technology companies in the financial and insurance industries. The start-up promoter has been independent since a so-called management buy-out in 2022. Under the new name Tenity, the company wants to develop from a pure incubator to an early investor. Tenity's investment strategy focuses on early-stage companies and seeks broad geographic diversification. More than 250 companies have participated in Tenity programs so far and the new fund will seek to invest in up to 400 new companies.

Source: Link


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Keywords: partnership, investment, financing , expansion, fintech
Categories: Banking & Fintech
Companies: Tenity, UBS
Countries: Switzerland
This article is part of category

Banking & Fintech

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