CRIF proceeds with 350 million Euro fintech investment plan
CRIF remains committed to its three-year strategy of investing 350 million Euros in fintech companies by the end of 2023, demonstrating continued global expansion despite challenging market conditions.
CRIF, a global player in information and credit solutions, is on track to fulfill its commitment to invest 350 million Euros in fintech companies by the close of 2023. This global investment strategy continues despite prevailing challenging market conditions, aiming to accelerate CRIF's global positioning and deliver innovative solutions.
Over 20 months into its initiative, CRIF reports significant progress. Dr. Frank Schlein, CEO of CRIF Germany, expressed confidence in maintaining the investment strategy, citing the promising long-term growth potential and integration capabilities of target fintechs within CRIF's innovation ecosystem. He highlighted CRIF's dual role as an investor and an innovation hub, leveraging synergies and providing data expertise to supported companies.
The companies receiving investment span various sectors including banking, insurance, and food industries, all characterized by digital business models with disruptive potential. Examples include Strands, a fintech specializing in advanced digital banking solutions, and Inventia, a provider of digital identification and customer engagement solutions. These investments aim to enhance customer engagement and generate new revenue streams through digital channels.
To further foster synergies and partnerships, CRIF has launched InnovEcos, its Global Open Innovation Hub. This initiative comprises fintech hubs, market leaders, and multidisciplinary professionals, aimed at developing new business models and driving innovation in services, products, and processes. Natalia Shchelovanova, Global Innovation and Ecosystem Lead at InnovEcos, stated that CRIF positions itself as an attractive partner for fintechs worldwide through its expanding portfolio and innovation ecosystem.