StanChart’s new platform connects start-ups and investors
SC Ventures, the ventures and fintech investments unit of Standard Chartered Bank, has created SC Ventures Fintech Bridge, a market-first platform to connect community builders such as start-ups, investors and accelerators to the bank.
Through this platform, partners from the fintech ecosystem can connect to the bank’s internal community, where they can propose solutions to challenges posted by the bank’s business units or request for investments.
Alex Manson, head of SC Ventures, says: “We understand how frustrating it can be for fintech start-ups to find the right people to take their solution forward. We also recognise that the best ideas can come from everywhere, not just inside, but also outside the bank.”
Investors can also use the portal to recommend start-ups to the bank for future collaborations. This simple and fast process means that start-ups can move from initial application to final selection within just three months.
SC Ventures Fintech Bridge has made four commitments: direct connection to the right people, no time wasted, funding guaranteed for proof of concepts (PoCs), and exposure to its markets.
The investment arm says SC Ventures Fintech Bridge is for fintechs who want to work with Standard Chartered Bank and gain new clients. It is a global platform supported by a connected network across Asia, Africa, Middle East, and Europe through the Bank’s footprint.