Santander spins out its fintech venture capital arm

Friday 11 September 2020 10:33 CET | News

Banco Santander has announced the launch of Mouro Capital, a new, autonomously managed venture capital fund focused on fintechs and adjacent businesses linked with the financial services industry.

Mouro Capital succeeds Santander Innoventures and will have USD 400 million in allocated funds after the bank doubled its current commitment. Mouro Capital will manage the existing portfolio of Santander Innoventures, which was established in 2014 with an initial USD 100 million allocation, increasing to USD 200 million two years later. Since then the fund has invested in 36 startups in Europe and the Americas.

The decision to spin out its investment arm is another milestone in Santander’s four-year (2019-2022) EUR 20 billion digital and technology investment plan. Mouro Capital aims to bring its fintech expertise and global network in investments to early and growth stage startups globally. The fund will continue to deploy capital across Europe and the Americas, primarily leading investment rounds with initial investments of up to USD 15 million and further follow-on reserves.

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Keywords: funding, fintech, investments, Mouro Capital, Santander InnoVentures, Banco Santander, digital transformation
Categories: Banking & Fintech
Countries: World
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Banking & Fintech

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