F10 and Italian Angels for Growth (IAG) sign letter of intent to work together to strengthen the global FinTech & InsurTech Startup ecosystem.
Zurich/Madrid/Milan - The partnership between F10 and IAG is a strategic initiative to strengthen the global FinTech & InsurTech innovation ecosystem and to increase investment opportunities for startups graduating from F10 programs. Both F10 and IAG are aligned in their vision that collaboration and a strong support network are key to the success of FinTech & InsurTech innovations.
Through the partnership, F10 further expands its international investor network and brings F10 startups unique exposure to the leading angel investor network in Italy. IAG members gain access to the most promising early-stage FinTech & InsurTech startups from the F10 ecosystem.
Startups graduating from F10 programs go through a rigorous vetting process. In the F10 Incubator, they participate in a 5-month intensive program supported by dedicated startup coaching, access to a global mentor network and opportunities to connect with world-leading financial institutions.
Italian Angels for Growth (IAG) is a network of business angels, entrepreneurs and companies that share expertise, capital and commitment to support innovation and entrepreneurship. By investing and supporting startups, IAG works every day to build a future where innovation receives the necessary resources to make a positive impact on society.
IAG business angels have recently led the investment in Sonect. Sonect is a Zurich-based FinTech start-up and F10 alumni offering a cash pickup service at affiliated retailers, allowing any store to become a cash pickup point. They graduated from the F10 Incubation Program in 2016.
"This new cross-border partnership with F10 demonstrates the strengthening of the association's relationships with various partners to collaborate on the best investment opportunities in the FinTech sector. We are excited to expand our contribution to the sector, given its importance to the entire national economic ecosystem and beyond. Over the last two years, IAG members have created a IAG FinTech community, formed by more than 50 managers and entrepreneurs from major Italian and international banking and insurance institutions and supported by a specialist team." - stated Carlo Tassi, IAG Chairman.
“At F10, we believe in the power of collaboration and to create a thriving ecosystem for startups to succeed. This new partnership strengthens the international FinTech & InsurTech ecosystem by improving access to investment opportunities for both investors and promising startups from our network. Early-stage startups specifically benefit greatly from increased exposure to investor networks, such as IAG. The recent round led by IAG for F10 alumni Sonect was just the beginning. We are looking forward to many more success stories.” – adds Andreas Iten, F10 CEO and Co-Founder.