Capital One Labs, the innovation division of US bank Capital One Bank, has opened its latest startup laboratory at 101 Post Street, San Francisco, expanding its chain of US labs already established in Washington DC and New York.
Capital One Labs defines itself as “a team of passionate entrepreneurs, re-imagining the way 60 million people interact with their money.”
The laboratory comprises 25 full time employees. The team is expected to partner with venture capitalists, entrepreneurs and academics located in the San Francisco Bay Area and work on innovative technological products for the finance industry.
One of Capital One Labs’s most successful partnerships has been with Kiva, a non-profit micro-financing platform which connects lenders to entrepreneurs, giving Capital One associates the opportunity to lend to entrepreneurs by using their credit card reward points.