F10, an innovation ecosystem for fintech and insurtech with hubs in Switzerland, Singapore, and Spain, announced that it has secured a funding round as well as management buy-in by its executive leadership, to support expansion into new markets and strategic capabilities. Details of the fundraise was not specified.
This funding round is led by Five T Fintech, with participation from Synpulse, Christian Frahm, Founder and CEO United Fintech, ON-POINT, and further investors.
In addition to external investors joining, the F10 executive leadership team have also taken stakes in the company in form of a management buy-in, making F10 an independent and self-funded company.
SIX, a founding partner of F10, will hold a minority stake.
F10 said that the funds are intended to allow it to grow both into new geographies, as well as in its current hubs in Europe and Asia.
The fintech accelerator’s corporate partners will benefit directly through early access to startups selected across all global programmes.
They will also benefit from the growing global network of partners, startups, and investors, as well as increased deal flow and collaboration support.
F10 added that it will take over the team of SIX Fintech Ventures, who will continue to provide investment advice for SIX’s CHF 50 million corporate venture capital fund that invests in global startups.
On top of that, F10 will provide early-stage capital to promising firms, with the first F10 Incubation fund now in the process of being raised, and build a Global Investor Network, which is a structured Investor Relationship Management programme for venture investors of all stages to directly invest in the incubator’s startups.
Andreas Iten
Andreas Iten, CEO and Co-founder of F10 said,
“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.”
Daniel Schmucki
Daniel Schmucki, CFO of 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.”
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