BBVA and Anthemis to open startup incubator in London

BBVA bank has partnered with FinTech investor Anthemis to build a venture creation studio in London.

The aim of the studio is to act as a space for FinTech entrepreneurs to come and build innovative businesses.

Both BBVA and Anthemis intend to help startup founders find FinTech business opportunities, initiate projects, and see them develop from conception through to the seed capital round of financing.

American bank BBVA currently works with startups, creating and investing in FinTech firms though its venture capital fund Propel and its New Digital Business unit, which has spun-out companies including Tuyyo, Covault, Azlo, and Denizen.

This partnership acts as an extension of this activity. Ian Ormerod, BBVA’s Head of New Digital Businesses, explained more. “This agreement will help us realize growth in our capacity to promote, create, and advance U.K. and international FinTech projects outside of our core markets.

“The aim is simple, find the very best FinTech ideas – the ones that are real game-changers and that will improve people lives and the way businesses operate, and then support their growth. Anthemis’ experience both in the U.K., Europe and increasingly across the U.S. makes them the best possible partner for this project,” he added.

Meanwhile, Anthemis has been one of the most active investors, venture builders, and advisors inside the FinTech ecosystem since the companys inception in 2010. Led by Sean Park and Amy Nauiokas, Anthemis has offices in London, New York, Geneva and Luxembourg and boasts a portfolio of 65+ startups.

Anthemis founder and president, Amy Nauiokas, commented: “BBVA shares our passion for transforming financial services for the Information Age. The company has played a tremendous role supporting innovation in the fintech ecosystem globally for many years.

“To that end, BBVA is a perfect partner for Anthemis to align with as we seek to find the next opportunity spaces for early stage entrepreneurs inside an industry still so ripe for change,” she concluded.