Swedish Wellstreet launches $ 40 million fintech fund
The Swedish venture capital company Wellstreet has gathered a number of leading Nordic bankers and fintech players for a new fintech fund of $ 40 million.
Wellstreet, which was founded by former Klarna CEO Mikael Wintzell, says the fund will try to make up to 20 investments in early B2B services and infrastructure technology providers. Managers from Avanza, Collector, Handelsbanken, Swedbank, Northmill, Resurs and Klarna support the fund, Wellstreet’s others.
All startups that receive investments from the fund will automatically become part of Fintech Loft, which will give them mentorship and coaching as well as credits from AWS to accelerate product development. With a global network of partners including banks and accelerators, Wellstreet also offers portfolio companies access to space in over 40 locations around the world.
Armando Coppola, Partner and Fund Manager, Wellstreet, says: “The main goal of the Fintech Fund is to help banks and other financial institutions adapt to new market standards and become more efficient, and we believe we will achieve this by investing in and nurturing the rapidly evolving technologies and startups whose solutions address the challenges of our existing financial infrastructure. ”