F10, a FinTech and InsurTech accelerator today revealed a successful funding round and a management buy-in by the F10 executive leadership. The funds, which are in the mid single-digit million range (CHF), aim to support expansion into new markets and strategic capabilities.
Christian Frahm commented:
Christian Frahm
I’m deeply passionate about bringing innovation to banks and financial institutions. F10 has built one of the most important accelerators for Fintech entrepreneurs globally.
Five T Fintech led the funding round with participation from Synpulse, Christian Frahm, Founder and CEO United Fintech, OnPoint, among other investors. Additionally, the F10 executive leadership team also took a stake in the company in form of a management buy-in. SIX, which is a founding partner of F10, will also hold a minority stake.
Francisco Fernandez, Chairman, FiveT Fintech, said:
We are thrilled to be supporting F10, and see room for exciting growth in new geographies, widening our network of fintech startups and supporting global innovation.
The raised funds will allow F10 to grow its current hubs in Europe and Asia and expand into new geographies. F10 corporate partners will have early access to startups selected across all global programs. They will also be able to benefit from the growing global network of partners, startups, and investors, as well as increased dealflow and collaboration support.
Securing this round of funding is the next step in our growth journey to drive innovation in the financial industry globally. We could not be more excited about the current and new investors supporting F10 in achieving this, including expanding our reach geographically, and creating a seed-fund to invest into startups in our ecosystem to drive their growth. I’d also like to thank SIX, one of our founding partners, for the support they have provided to F10 and I’m looking forward to continuing the close collaboration.
F10 will take over the team of SIX Fintech Ventures. The team will continue to provide investment advice for SIX’s CHF 50 million corporate venture capital fund. In addition, F10 will provide early-stage capital to promising firms. The first such F10 Incubation fund is now in the process of being raised. The firm will build a Global Investor Network, which is a structured Investor Relationship Management program for venture investors of all stages to directly invest in F10 startups.
Daniel Schmucki, CFO SIX and initiator of SIX Fintech Ventures, added:
SIX has supported the F10 mission right from the start. We are committed to F10 in growing their international community of startups, incumbents, and investors and driving technology and digital transformation forward.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
