Barclays has prolonged its partnership with enterprise capital agency Illuminate Monetary to assist fund fintech startups.
Illuminate Monetary backs early-stage fintech and modern software program firms within the monetary companies sector. In 2019, Barclays was an investor in Illuminate’s $100m (£86.48m) fintech fund.
To this point, the fund has supported fintechs similar to SteelEye, Genesis, and Arteria AI.
“We’re delighted to proceed our longstanding partnership with Illuminate Monetary,” mentioned Andy Challis, co-head of principal investments at Barclays.
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“This funding will allow Barclays to play an much more significant position within the monetary market’s innovation ecosystem.”
Mark Beeston, founder and managing companion at Illuminate Monetary, added that the partnership will assist to handle core challenges throughout monetary companies together with digital property infrastructure, local weather and ESG, knowledge and personal markets, in addition to broader enterprise options that focus on the sector.
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“It has been our privilege to work with Barclays for a number of years and welcome them again as an investor for the second time in our enterprise capital technique,” Beeston mentioned.
“Illuminate Monetary’s traders symbolize a novel mixture of worldwide monetary establishments, extending the agency’s deep area experience and go-to-market value-add for our portfolio.”
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