Nationwide launches £50m fintech fund

UK building society Nationwide has joined the fintech venture fund party, putting aside £50 million to invest in promising startups. The mutual will be focussed around seven main themes: house and home; personal data and identity; financial wellness; community and society; banking-as-a-platform; operational efficiency; and new segments. The building society is stressing that it is not simply looking to pump money into startups, but will also offer direct product development support, arguing that its mutual status means it will focus on long-term partnerships. The fund has already made its first investment, backing acasa, a prop-tech startup focussed on supporting both landlords and tenants living in shared accommodation with their everyday finances.

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