The project for the creation of a new fintech bank dedicated to small businesses. The activity kicked off with the closing of a first round of financing worth 45 million euro. The promoters of the initiative are Roberto Nicastro and Federico Sforza.
The project Idea Bank (this is the tentative name) started with the acquisition of Fide, financial intermediary and company specializing in the sector of salary assignment.
As far as raising capital is concerned, the first round of financing was the richest ever for an Italian fintech startup. Mostly they believed in the project business angels from the banking, business and insurance world, but also active investors in the fintech and Venture Capital sectors. Among the companies that have financed the idea are Generali, the Sella group, Banca Ifis and Isa.
Robert Nicastro he will be non-operative president, while Federico Sforza (ex-Nexi) will hold the position of CEO. In addition to them, among the promoters there are eight other professionals, who will have operational positions in the management of the company.
“Despite the difficult period, we managed to complete this significant financing round and to complete the acquisition of the Fide platform – comments Sforza – This should allow us to be operational already in the autumn with innovative credit solutions for small and very small businesses. We are very proud of the team of investors and managers we have assembled and who guarantee the project on the one hand seriousness and financial solidity and on the other the right mix of skills and synergies to achieve the objectives we have set ourselves: to become the first digital bank in the Country totally dedicated to small businesses; an essential sector of the Italian economy, in this period is particularly tried by the economic crisis, and which is also accelerating its digital vocation. We want to be ready within the year to make our contribution to the country's recovery and productivity growth”.
