Austria-based venture capital firm Speedinvest has secured €50m ($58m) from limited partners including financial services firm Raiffeisen and insurance provider Uniqa for an early-stage fund called Speedinvest F.
Founded in 2012, Speedinvest backs Europe-based financial technology developers in subsectors such as alternative lending, investments, payments, insurance and personal finance technology in addition to data, compliance and infrastructure technology startups.
The firm had previously invested out of a €25m fund called Speedinvest X, supplying up to $500,000 in seed funding for startups. Speedinvest F will expand that brief, making first investments in late seed and series A and B rounds with a ticket size of €1m to €4m.
Andreas Brandstetter, Uniqa’s CEO, said: “Uniqa Ventures and the cooperation with Speedinvest are a significant part of Uniqa’s global strategy, which drives forward digital transformation, innovative technologies and future trends at the benefit of our customers.
“By pooling our forces, the best fintech startups can benefit from industry-related know-how and our [Central and Eastern Europe] network.”