FIS aims to invest $150m in promising fintech startups over the next three years
FIS Ventures will invest globally in early to growth-stage fintech startups with a focus on emerging technologies such as AI and machine learning.
Financial services technology provider FIS (NYSE:FIS) announced today that its newly created corporate venture investment division FIS Ventures has launched an effort to invest a target of $150 million in promising fintech startups over the next three years.
FIS Ventures will invest globally in early to growth-stage fintech startups with a focus on emerging technologies such as artificial intelligence and machine learning, digital enablement and automation, data and analytics, security and privacy, distributed ledger technology, and financial inclusion. In addition to capital investments, FIS Ventures will actively partner with these companies, providing proprietary access as appropriate to FIS’ global reach and scale, operating expertise, diverse customers and channel partners to help fulfill their long-term growth ambition.
The recently announced funding in the Nigeria-based fintech startup Flutterwave marks the first investment made by FIS Ventures.
The launch of FIS Ventures marks another step in FIS’ broad-based strategy to nurture a growing ecosystem of innovators within and outside the company. This will complement other key initiatives such as the annual FIS FinTech Accelerator program, the annual FIS Innovatein48 research and development competition, and FIS innovation labs around the world.
