MADRID, July 15, 2019 – Kaccelerator Innovation & Impact Fund have announced a partnership with Fiinu, a British AI start-up set to help millions of people to better manage and stay in control of their finances.
The announcement comes after an earlier investment and establishes Kaccelerator’s confidence and commitment with the UK based AI financial services company.
Fiinu was founded by a fintech academic and technology entrepreneur Marko Sjoblom, who has over 20 years of practical experience developing tech and AI-based solutions in Wall Street and the City of London. Sjoblom is a doctoral-candidate in AI and disruptive innovation theory with earlier degrees from Anglia Ruskin in Cambridge and the University of Bath.
“The concept of API’s dates back to the 1950s when IBM manufactured the first mainframes, but PSD2 allows public API’s such as Open Banking to emerge because the directive and common standards ensure that the markets are safe and secure. Open banking concept is rapidly expanding across the world, and we are building our AI robot with this in mind”, Sjoblom says.
Fiinu, which is in the pre-application phase to obtain necessary licenses from the UK regulatory authorities, plans to passport its license initially across the European Union. The firm will be using public API’s and its robotic automation technology to offer consumers more options, leading to positive customer outcome.
Kaccelerator chief executive Sebastian Plubins was looking to invest and partner in mission-based fintech companies when Fiinu entered his radar through an over-funded crowdfunding project. Kaccelerator is now helping Fiinu to establish strategic partnerships with global tech companies.
“Tectonic changes and public API’s are transforming the financial services industry. Chinese Ant Financial is probably the most advanced new financial services provider, and other big tech companies like Amazon and Facebook are gradually increasing their presence in the sector and they will be looking at firms like Fiinu to partner with, invest or acquire”, Plubins says.
Kaccelerator is a next-generation impact investment fund focused on disruptive innovations that are changing the world for the better and that have long-term growth potential. We believe in the transformative power of allocating capital into mission-driven businesses that can deliver positive change and alpha.
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Fiinu is a British AI start-up which is in the pre-application phase to obtain necessary licenses from the UK regulatory authorities. The firm is building its bespoke robotic technology to generate revenue by lending short and borrowing long.
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