BNP Paribas strengthens FinTech focus with Anthemis investment

The move aligns with the banks’ strategy to improve its value chain and services through partnerships with technology companies.

BNP Paribas has made its first investment into global investment platform, Anthemis, as it looks to strengthen its focus on FinTechs.

The Global Markets Strategic Investments unit, which invests in high-growth FinTech companies, is being used to make the investment.

The move by BNP Paribas is part of the bank’s strategy to partner with technology companies to improve its value chain and the services the bank provides to clients.

Global Markets’ current portfolio of FinTech investments, which includes digital and FinTech firms like Kantox, Symphony, Saphyre and Forge, is being strengthened by this latest investment.

Last month, BNP Paribas and JP Morgan backed FinTech firm Saphyre in a $18.7 million Series A funding round – allowing Saphyre to invest in product development and the ongoing expansion of interoperability programs.

“We are delighted to be investing in Anthemis which has a strong track record in FinTech investments,” said Olivier Osty, head of global markets at BNP Paribas.

“We are not only investing in the fund but also looking at potential partnerships and co-investment opportunities which will support the capital markets industry and develop the next generation of FinTech champions.”

Originally founded in 2010 with a focus on FinTech and InsurTech, Anthemis has since built a large portfolio of start-ups including social trading and investment platform, eToro, and international online money transfer company, Azimo.

  “For over a decade, Anthemis has been committed to reshaping financial services, cultivating change by investing in, growing, and sustaining businesses committed to improving the world,” said Briana van Strijp, chief executive of Anthemis.

“This work cannot be done without partners like BNP Paribas. We couldn’t be more excited to work alongside BNP Paribas whose leadership embodies this.”