Fintech Solution Provider FIS’ VC Division to Invest $150 Million in High-Potential Financial Tech Companies

FIS (NYSE:FIS), a financial services technology provider, revealed on April 28, 2020 that its newly formed corporate venture investment division, FIS Ventures, has introduced an initiative that will aim to invest $150 million in high-potential Fintech firms in the coming years. FIS is a publicly-traded company with a market cap of around $80 billion.

According to a press release, FIS Ventures plans to make strategic international investments in early to growth-stage Fintech companies that are working on developing innovative technologies, including those related to artificial intelligence, machine learning, digital enablement and automation, data and analytics, and security and privacy.

FIS Ventures also intends to invest in blockchain or distributed ledger technology (DLT) projects, and efforts aimed at promoting financial inclusion.

The company said it will work cooperatively with these firms, in order to offer “proprietary” access as needed to FIS’ global reach and scale, business expertise, customer base and strategic partners, in order to help projects achieve their long-term growth objectives.

As noted in the announcement, the introduction of FIS Ventures marks an important step or milestone in FIS’ business and growth strategy – which aims to nurture a diverse ecosystem of innovators and entrepreneurs.

FIS Ventures will complement the company’s other projects, including its yearly FIS Fintech Accelerator program, the annual FIS Innovatein48 research and development competition, and FIS innovation labs, which are based in several different countries.

Earlier this year, FIS partnered with Liberis, a UK-based Fintech firm that offers alternative funding for small businesses, to launch “Working Capital” to provide various funding solutions for US-based SMBs.

In January 2020, FIS opened applications for the 2020 FIS Fintech Accelerator, which is a program that’s conducted in collaboration with the State of Arkansas and Little Rock-based The Venture Center. It is designed to identify and help startup firms accelerate the development of innovative solutions that bring new capabilities to the financial services community.

Sponsored Links by DQ Promote


You may also like...

Send this to a friend