Banking on the intersection of finance and technology
London #fintech successes include Transferwise, founded by an INSEAD MBA and valued at $1 billion; WorldRemit, incubated at London Business School and valued at $500 million; and Nutmeg, founded by Stanford GSB graduate Nick Hungerford, which in June raised $32 million in venture capital.
Curated from MBA Students Set Their Sights On Fast-Growing Fintech Industry | BusinessBecause
Tim Bunting, partner at Balderton Capital, a Nutmeg investor, said: “Nick Hungerford and the Nutmeg team are passionate about making top quality wealth management available to everyone, not just the wealthy. They are the first mover in this area and have grown very fast over the last 12 months.
Yet banks, including Barclays and Banco Santander, have established in-house venture capital funds to invest in fintech start-ups. Spanish Bank BBVA this month said it would “dramatically” boost investment into European fintech, and launch a dedicated team in London. The bank launched a $100 million venture fund focused on the US in 2013.