Swiss stock exchange operator SIX will expand the activities of its fintech incubator F10 to Spain, following the takeover of the country’s stock exchange.
With locations in Madrid and Barcelona and operations in Bilbao and Valencia, SIX is partnering with Bolsas y Mercados Españoles (BME) to expand SIX’s F10 tech incubation program to Spain, the Swiss company said in a statement on Tuesday. This move is intended to strengthen the Spanish financial technology ecosystem by bringing new and innovative capabilities to the country.
As part of this move, F10 is looking for local corporations and investors to benefit from its ecosystem and programs. F10 offers established banks and insurers the opportunity to future-proof their technology by working with startups in Fintech, Regtech, Insurtech and Deeptech, said SIX.
Launch in March 2021
F10 already supports a Spanish firm in the form of BlackGull, a Fintech startup in its current incubation program in Zurich. The incubation program launches in Spain in March 2021.
The move shows that SIX intends to internationalize and enhance the mobility of startups between Spain, Switzerland and Singapore and aims to support the long-term Fintech strategy of these three countries.
SIX in June said it won more than 93 percent of BME, seven months after it had launched an all-cash offer.
