F10, the fintech and insurtech company has secured a funding round, as well as a management buy-in from the F10 executive team, making F10 an independent and self-funded company.
The funding round, part of an initiative to support F10’s expansion into new markets, will be led by Five T Fintech, with participation from Synpulse, Christian Frahm, founder and CEO of United Fintech, ON-POINT, and other investors. SIX, a founding partner of F10, will hold a minority stake.
From the funding round, F10 team looks to expand into new geographies, as well as increasing its presence at its current hubs in Europe and Asia.
In the course of the funding round, F10 will strengthen its investment activity and will take over the team of SIX Fintech Ventures, who will continue to provide investment advice for SIX’s corporate venture capital fund that invests in global startups.
F10 will also provide early-stage capital to promising firms, with the first F10 Incubation fund now in the process of being raised.
In addition, F10 will build a global investor network, which is a structured investor relationship management programme for venture investors of all stages to directly invest in F10 startups.
Andreas Iten, CEO and co-founder of F10, comments: “Securing this round of funding is the next step in our growth journey to drive innovation in the financial industry globally. We could not be more excited about the current and new investors supporting F10 in achieving this.”
Daniel Schmucki, chief financial officer at SIX and initiator of SIX Fintech Ventures, says: “SIX has supported the F10 mission right from the start. We are committed to F10 in growing their international community of startups, incumbents, and investors and driving technology and digital transformation forward.”
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