Credem, a ceiling to invest in startups and fintech solutions –

Credem is betting its chips on technology. The bank accelerates its strategy of strong investments in innovation by acquiring a ceiling dedicated to Corporate Venture Capital (CVC). The objective is to invest in the capital of startups or SMEs with high innovative and growth potential. In particular, through the collaboration with Credemtel, a company specialized in digital services for businesses, the group would like to invest in equity investments in startups or fintechs with industrial and functional purposes to accelerate the open innovation model. Among the sectors of interest: instant lending, wealth management thanks to fintech solutions, information security of the supply chain.

The ambition

The objective is to identify innovative technologies and models to strengthen the group’s core business, support its evolution and generate value for the Group itself and for customers.In particular, in the initial phase, the investments of Credem’s Corporate Venture Capital will be made through Credemtel which will act as a vehicle for the completion of operations. The investment activity will have a multi-year horizon through an initial endowment of a few million euros. The investment opportunities will be selected, in line with the bank’s industrial priorities, by an investment team coordinated by the Group’s Innovation Unit and will be assessed by an investment committee specifically composed of members of the Group’s management and board, making use from time to time of specialized advisors in the sector.

Corporate venture capital – declared Piergiorgio Grossi, Chief Innovation Officer Credem – was born as an important but natural point of passage for the group’s open innovation process. Which made the approach to the world of startups fundamental. We started attending the startup world for an exchange of experiences and for inspiration. We then moved on to participate in scouting, acceleration and incubation programs with those who have important skills on the subject until we started working with startups on various innovation projects. It is natural to think of the opportunity to participate in the company by investing in the startup itself. A participation that wants to be propellant for the founders and not a backpack on their shoulders, he concludes. Big.

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