Italy-based banking group Credem has confirmed it has backed Fin+Tech, the three-year accelerator formed by venture capital firm CDP Venture Capital.
The initiative is expected to accelerate 16 startups per year and held it its first call for entrepreneurs in July 2021. CDP had already provided about $4m for the accelerator, which is managed by Digital Magics, Startupbootcamp and Fintech District.
Piergiorgio Grossi, chief innovation officer at Credem, said: “This initiative represents a step forward in the innovation path started by the group in recent years with the aim of continuing to evolve the services offered to our customers, with an increasingly strong focus on digital channels.”
SIA, a subsidiary of payment technology provider Nexi Group, is reportedly a co-investor and corporate partner of the project, which has Anima, Banca Mediolanum, BNL Gruppo BNP Paribas, BNP Paribas Cardif, Compass, Credito Fondiario, Excellence Consulting, Reale Group and Consob Tech as corporate partners.
