Microsoft, Banco Votorantim partner on Brazil fintech investments

Microsoft, Banco Votorantim partner on Brazil fintech investments
 

Microsoft Corp (MSFT.O) and Brazilian lender Banco Votorantim are investing together in financial technology startups, executives said in a Monday interview, as the U.S. tech company adds a new specialty to its venture capital portfolio in Brazil.
Votorantim will invest an initial 3 million reais ($930,000) in the BR Startups fund created by Microsoft, with an expectation of funding about a half dozen young firms with investments ranging between 250,000 reais and 1.5 million reais.
The partnership underscores how Brazilian banks are looking to ride a wave of innovative financial startups,... read more

 
11 October 2016 in Science &Technology, Views: 43
Source: Reuters
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