The Finnovating platform celebrates its first anniversary after generating 1,000 fintech collaborations with corporations

Finnovating, the first global Fintech collaboration platform that connects more than 60,000 startups and technology scaleups in the world with corporations and investors, celebrates one year in business since it was launched on the market with all the connection and collaboration solutions.

At this time of crisis and international uncertainty, precisely now a digital platform like Finnovating is more necessary than ever to promote collaboration between financial institutions, insurers and any type of company with FinTech startups and scaleups. The inevitable and continuous digital transformation of all sectors makes the collaboration and integration of external solutions the only way to compete in an increasingly digital, efficient and technological world. For this reason, Finnovating was born with the complex objective of classifying, ordering and connecting this entire new sector of innovative technology startups and scaleups with any company that needed their services.

In this first year, the first objective has been to connect the maximum number of companies, achieving the milestone of having fintech and active corporations from 121 countries, at a rate of more than 600 new technological solutions per month. The second objective has been to facilitate connection and collaboration, the true purpose of the platform. To this end, the Challenges space has been a great success, having exceeded the figure of 1,000 open calls with a success rate of 99%. According to its CEO, Rodrigo García de la Cruz, “it is exciting to put technology and algorithms at the service of corporate collaboration and to witness how any company, regardless of its size or its sector (banks, insurance companies, telcos, energy companies, retailers …) launch these calls and are able to find the companies with which they will create a more digital future. In addition, everything is done in record time, something that used to take months, now takes weeks and even days, generates spectacular results in a completely simple, efficient and scalable way”.

Supported by big data and artificial intelligence tools, the Finnovating team is classifying and connecting more than 60,000 companies from the FinTech, InsurTech, PropTech ecosystem and the rest of the technological verticals including the new startups of the metaverse with a unique taxonomy of more of 1,000 variables. In this way, the generation of connections, co-creations and collaborations with the corporate world is becoming a reality. «Being part of the Finnovating platform means being part of the global startup ecosystem in an efficient and effective way. It allows us to contact other partners and potential investors from all over the world and simultaneously they can contact us», explains Yannick del Ponte, Country Managing director of FinTech ID Finance.

Within the Finnovating ecosystem, the large global financial and technological entities take part to promote their open innovation and search for fintech companies with which to accelerate their digital transformation through collaboration challenges, receiving more than 1,500 applications per month. “At Mastercard we are delighted to strongly support Finnovating in this initiative with which we connect with more partners in the FinTech ecosystem to accelerate their processes that allow them to scale their solutions and generate innovative initiatives that improve both the consumer experience and the payment infrastructure. transversally”, Alejandro Banegas, director of Business Development at Mastercard Spain, tells us.

On the other hand, Pedro Muñoz, Head of Open Innovation at BBVA Spain, highlights how «Finnovating is a key player in the FinTech ecosystem, and our collaboration is key to reaching the best FinTech companies and generating new business opportunities for our clients».

But in addition to the collaboration Challenges, Finnovating has created a services marketplace so that all members can share their products and services, as well as the needs they have with the rest of the community. In the last 6 months, more than 30,000 requests for services have been received with a ratio of more than 50 daily agreements. “At CMS we have the objective of supporting fintech and insurtech in all their needs, so for this it is key to be within the largest ecosystem in the world that is Finnovating”, comments Jaime Bofill, Partner at CMS Albiñana & Suárez de Lezo. In addition, according to Miguel Prado, a partner at Andersen, «thanks to the Finnovating platform, we are managing to close agreements with FinTech companies that need and request our legal and regulatory services.»

This is one of the reasons why thousands of fintechs access the platform daily, to find clients, partners and suppliers. “Through Finnovating we have contacted our most important suppliers today. And it is that platform is designed to generate synergies and productive contacts throughout the world. We have allies and suppliers in Europe, South America and North America thanks to being active in it”, tells us Jesús Javier Guevara Monjes, CEO and founder of AURA PAY.

In addition, the company has always been clear about the importance of going from the global to the local, «although Finnovating is born global, our ambition is to help local ecosystems, which is why the platform was officially launched in Mexico on October 6. It was an important milestone for our country to be able to bring together, together with Fintech Mexico, more than 120 CEOs of fintech and insurtech with dozens of corporations as investors physically, after connecting all of them digitally through the platform months before”, highlights Enrique Recke, Country Manager of Mexico in Finnovating.

García de la Cruz also highlights that, “for me, the only way to success in a company is to attract talent, and this year has been very special. Not only for incorporating the best possible team, but also for the team of international investors and advisors of the highest level that accompanies us and that was completed last September with the incorporation of the great influencer in fintech and expert in open innovation, Matteo Rizzi.”

“We are celebrating and it is a real pride to have achieved so many important milestones in this first year of the platform. Our main objective is to help the ecosystem to innovate, promoting connections and collaborations. For this reason, we want to encourage all the companies that are not part of Finnovating to join and celebrate together all the advantages of being part of this global community,” says Rodrigo García de la Cruz, CEO at Finnovating.

About Finnovating:

The first global platform that connects a community of 60,000 companies to promote connection and collaboration between fintech, insurtech and corporations. Access the platform!

Source: El Referente