Bolsas y Mercados Españoles (BME), a Spanish firm that addresses the organizational facets of Spain’s stock exchanges and monetary markets (together with stock exchanges in Madrid, Barcelona, Bilbao, and Valencia), has reportedly teamed up with Barcelona Tech Metropolis in an effort to set up a brand new Fintech hub.
The monetary know-how hub might be situated on 1,000 sq. metres of communal property that’s being reserved for native startups, buyers, VCs, and conventional banking and insurance coverage companies.
The Fintech hub is being established within the Barcelona Stock Change constructing. It’ll provide financing alternatives to Spanish startups by leveraging its shut relationship with the BME.
The Hub’s administration will advise companies on the best way to develop their progress methods and can assist program members perceive the capabilities of key market infrastructure, together with the Stock Change itself, its goal SME progress market MAB and its Pre-Market Surroundings.
Javier Hernani, CEO of BME, acknowledged:
“This alliance allows BME to be closer to companies deeply-rooted in trends and disruptive value-added services. This reality broadens BME’s options to increase the number of companies in its markets, participate in technological solutions useful for its business purposes and evaluate technologies that can be incorporated into its range of services.”
The incorporation of the brand new house to the City Tech Campus gained’t be confirmed till subsequent yr, due the COVID-19 outbreak.
Miguel Vicente, president of Barcelona Tech Metropolis, remarked:
“The agreement with BME offers us the opportunity to explore new financing alternatives for our startups. The Pre-Market Environment and the MAB are growth opportunities to be considered for the ecosystem companies.”
A considerably comparable initiative has been launched by the London Stock Change Group (LSEG) and International Accelerated Ventures (GAV).
As reported, GAV has teamed up with the LSEG to introduce a post-COVID-19 fundraising program that goals to help Fintech and Healthtech companies which may want further capital to assist their progress and improvement after the pandemic has handed.
In an interview with CI, Christopher Malter, CEO at International Acceleration Ventures, acknowledged:
“Companies that are accepted by ELITE (which is the LSEG’s international business support platform) will join in monthly workshops over an 18-24 month period, where they will better develop their companies for scale. In addition, the program will provide mentoring, develop relationships, and guide the company’s finance and management teams for larger fundraising rounds.”
“Accepted applicants will work in close coordination with regional business, academic and financial communities across the markets. More than 1400 companies have already gone through ELITE, with an average growth rate of 30 percent following the program.”