Challenger bank Fidor has called up Seedrs and Nutmeg for its digital marketplace
German challenger bank Fidor has announced it is partnering with a pair of UK tech firms to offer its customers access to equity crowdfunding investments and wealth management services.
In more signs that Europe’s FinTech businesses are pooling their services and influence together, both Seedrs and Nutmeg will have their products signposted as part of Fidor UK’s ‘carefully curated’ digital marketplace of FinTech partners.
The new partnership makes Seedrs the first equity finance provider on the digital bank’s marketplace as it continues to cement its place at the forefront of the equity crowdfunding market, having already invested over £220m in SMEs.
London-based Nutmeg will also benefit from access to Fidor’s digitally savvy customer base providing them with the opportunity to open fully managed investment portfolios on the digital wealth manager’s platform.
Chief Executive Officer at the firm, Martin Stead, views the collaboration as a further step on the journey to making its products available to as wide an audience as possible.
He said: “The way people save, invest and manage their money is changing. Innovative technology is transforming financial services with a clear focus on improving access and opportunity for new and existing investors.
“We are passionate about making quality wealth management available to everyone and initiatives like Fidor’s fintech marketplace, make great strides toward this goal.”
The new marketplace by Fidor, which launched in the UK in 2015, is yet another example of a challenger bank looking to its FinTech compatriots to grow out its product line-up.
Earlier this month UK bank Starling unveiled an integration with savings and investment app Moneybox, following on from a similar partnership between Starling and Transferwise earlier this year while foreign exchange app Revolut has lined up similar partnerships with the likes of Lending Works and Brick Lane.
Katharina Rausch, Head of FinanceBay, Fidor’s fintech marketplace, welcomed Seedrs and Nutmeg to the platform, and said the bank had even more partners lined up in the coming months.
She said: “Fidor has long welcomed affluent and financially curious customers to our digital bank and based on their investment appetites we have built an exciting suite of investment products made accessible to customers via a handful of carefully curated fintech partners.
“Our fintech marketplace will be instrumental in offering exciting investment opportunities to many of Fidor’s UK based customers.”
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