FIS Ventures, the venture capital arm of financial technology company FIS, has announced plans to invest USD 150 million on fintech startups over the next three years.
The newly created fund targets projects involving emerging technologies such as artificial intelligence and machine learning, digital enablement and automation, data and analytics, security and privacy, distributed ledger technology, and financial inclusion.
Furthermore, apart from backing the companies financially, the venture arm will also partner with the companies to provide proprietary access as appropriate to FIS’ global reach and scale, operating expertise, diverse customers, and channel partners.
The venture fund and the cooperation with the invested startups will complement FIS’s existing incubation programs including the annual FIS FinTech Accelerator program, the annual FIS Innovatein48 research, and development competition, and FIS innovation labs.
The fund has already made its first investment earlier in 2020, participating in the USD 35 million Series B funding round of Flutterwave, a Nigeria-based payments technology company with operations across the continent.
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