Belgian Government support to fintech startups 25/01/17
The Belgian Government, in association with the Smartfin group, is establishing a fund to support startups in the financial technology field.
With a target of €30 million, Smartfin has already raised nearly half this sum, and the Government is subscribing a further €5 million through its FPIM lnvestment vehicle.
The Belgian Government has in the meantime pumped €2 million into Smartfin’s ‘B-Hive’ fintech platform, which provides networking and knowhow exchange facilities to startups.
In addition to the Belgian fintech community, Smartfin is prepared to fund startups in the Netherlands, the UK and other countries.
The Belgian Government is also setting aside €13 million for other ventures in the fintech field.
In anticipation of a British ‘Brexit’ withdrawal from the European Union, Brussels aims to position itself as a fintech alternative to London. In this connection Smartfin will also provide a local funding option, as an alternative to the US or the UK.
Source: De Tijd