Nordea joins the startup fintech investors club, sets up Nordea Ventures.

Nordea, a financial services group operating in in the Nordic and Baltic region., announced it had established an investment arm, Nordea Ventures.

The newly founded operation will make strategic investments in fintech start-up companies, aligned with Nordea’s strategy of building its digital banking services.

While the size of the fund and the scope of the investments remain undisclosed, Nordea Ventures claims it will consider mainly funding companies which have a Nordic focus. Prior to setting up Nordea Ventures, the bank already made investment in startups such as Tink, Wrapp, Motorious or Connected Finland.

Nordea is in top 10 largest financial groups in Europe in terms of market capitalisation, with 11 million customers, 31,500 employees and 600 branch locations.

Casper von Koskull, President and Group CEO of Nordea:
We want to play an active role in developing new technologies for the financial sector from early on. It’s not just about providing capital, but also about engaging with start-ups and sharing our expertise. This will benefit Nordea and the companies we invest in, but most of all our customers.