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Rakuten launches $100 million FinTech Fund

First Published 12th November 2015

Rakuten has announced the official launch of the Rakuten FinTech Fund, a new US$100 million global investment fund focused on investments in disruptive early to mid-stage fintech startups.

Hiroshi Mikitani, Rakuten

Hiroshi Mikitani, Rakuten

"Rakuten is committed to empowering great entrepreneurs around the world and Rakuten's new FinTech Fund represents another milestone in our global expansion of the financial services business."

London and Tokyo - The Rakuten FinTech Fund fund will target investments in startups and growth companies primarily in the U.S. and Europe and build on the experience of previous fintech investments made by Rakuten, including Currency Cloud, WePay and Bitnet.

The fund operations will be run with Managing Partner Oskar Mielczarek de la Miel acting as the fund advisor.

Hiroshi Mikitani, CEO of Rakuten commented, "Rakuten is committed to empowering great entrepreneurs around the world and Rakuten's new FinTech Fund represents another milestone in our global expansion of the financial services business."

Commenting on the emergence of fintech startups offering innovative solutions to old problems, Oskar Miel said, "If you just look at the last couple of years, companies like Currency Cloud, WePay or Bitnet are great examples of disruption changing the landscape in payments and providing innovative solutions that address fundamental needs of global customers. The Rakuten FinTech Fund is dedicated to helping these businesses accelerate disruption and innovation in historically more traditional and conservative markets."

While the fund's immediate focus will be on companies based in fintech centers such as London, San Francisco, New York and Berlin, Rakuten FinTech Fund plans to gradually expand operations around the globe.

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