Financial services groups Nordea and Crédit Agricole invested €10m ($11.4m) in Netherlands-based banking software provider Cobase yesterday, the latter through investment banking subsidiary Crédit Agricole CIB.
Cobase is the creator of a software product that enables businesses that hold accounts with different banks to access all of their accounts from a single point. It has a commercial partnership in place with Nordea and is looking to form one with Crédit Agricole CIB as well.
Another financial services firm, ING, had provided $8.9m in funding for the company in September 2018 through corporate venture capital vehicle ING Ventures. It said it is interested in signing up additional banks as strategic or commercial partners.
