ING Creates EUR300 Million Fintech Investment Fund

By Maryam CockarFeaturesDow Jones Newswires

ING Groep NV (INGA.AE) announced Wednesday that it has launched a EUR300 million ($352.8 million) fund, ING Ventures, to invest in fintech companies.

The Dutch financial-services group said that ING Ventures will over the next four years expand its existing investment portfolio, which has more than 115 fintech strategic partnerships and global investments.

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The fund will be entirely funded by ING, and will focus on startups and companies that have gained some traction in the fintech market, ING said.

Shares in ING in Amsterdam closed 0.04 euro cents, or 0.2%, higher at 15.96 cents.

Write to Maryam Cockar at maryam.cockar@dowjones.com

(END) Dow Jones Newswires

October 25, 2017 12:26 ET (16:26 GMT)