Other than banks. John Elkann, who does not hide his passion for innovation, has moved forward. Exor Seeds, the company in which the finance company's investments in startups are concentrated, yesterday announced that it has participated together with Tiger Global, TCV and KKR in a new round of financing from 486 million euros in Qonto. The French fintech specializes in financial management and accounting services for SMEs and professionals and boasts over 220 clients in the four countries in which it currently operates: France, Italy, Germany and Spain. The loan values Qonto at 4.4 billion euros. The amount of the investment by the parent company of the Agnelli team has not been disclosed, but it is probable that the amount will be limited,
Exor Seeds, born in 2017 below directed by Noam Ohana (formerly Stanford University) to raise investments in startups of the group has in investment portfolio in 53 startups, a mine that varies between numerous activities around the world with interests ranging from mobility to fintech to the health sector. Since last September, just to underline Elkann's attention to the development of these activities, Exor Seeds has been called Diego Piacentini, former close collaborator of Jeff Bezos and Apple, for two years (from 2016 to 2018) extraordinary commissioner for the implementation of the digital agenda for the Italian government. Piacentini, non-executive director of the Economist, another investee of Exor, deals, among other things, with various initiatives aimed at the Bel Paese, including the annual event Italian Tech Week.
Over the last few years Exor Seeds has invested, taking into account the last operation, at least 800 million dollars in the technology sector, including 8,7% of Via Transportation, where it is today the largest shareholder after the founders with an investment of 200 million dollars. Via, a direct rival to Uber, operates an active platform in over 70 cities in 20 countries. “Right now it is more important than ever to create innovative solutions for a more sustainable future” was Elkann's comment for the occasion.
But the list of initiatives actually contains a bit of everything. They range from cutting-edge financial solutions such as the fintech Brex to the production of new generation sanitary pads and creams, the field of activity of Because. The Brazilian Cariuma, on the other hand, produces sneakers and other trendy shoes.
An investment of 50 million euros ended up in Casavo, the Italian proptech platform, active on the market with the real estate instant buying model (I buy a property, renovate it and put it back on sale). But there is no lack of attention to real estate on the most dynamic emerging markets, thanks to an investment in EMPG, a network that covers countries such as Indonesia and Mexico, without neglecting Dubai.
And sifting through the list, one discovers initiatives such as the Cambridge EQR which aims to lower the cost of medicines, promoting price transparency. Launched in January 2020, the company has just started a joint venture with the American CVS Health to produce and distribute low-cost oncological drugs.
And there is no lack of attention to the climate. From Crusoe, which deals with eliminating harmful gas and oil emissions up to research on clean nuclear power NewCleo. In short, a 360-degree bet on the future, waiting for the seeds to give good profits.
