Financial services firm BBVA has joined forces with venture capital and advisory firm Anthemis Group to create a UK-based fintech startup studio intended to build BBVA’s profile in the financial innovation ecosystem.
Anthemis was founded in 2010 to nurture financial services businesses by providing access to funding, information and expertise. The partnership is expected to help pre-seed stage startups launch projects and find business opportunities as they prepare to secure capital.
A team representing BBVA and Anthemis will be appointed to handle the studio’s management and support its projects.
BBVA expects the tie-up to complement its existing fintech venturing initiatives, which include arms-length investment unit Propel Venture Partners as well as the New Digital Businesses startup scheme and Open Talent competition.
Ian Ormerod, head of new digital businesses at BBVA, said: “Anthemis’s experience both in the UK, Europe and increasingly across the US makes them the best possible partner for this project.”