NETHERLANDS – Rabobank, a multinational company offering food and agricultural financial services, has invested US$74.8 million to fund the Rabo Frontier Ventures that seeks to elevate emerging fintech and food & agri companies.
Rabo Frontier Ventures will receive financing from the Rabobank meant to support and boost fintech and food & agri innovations.
This is part of Rabobank Group’s strategy to foster socio-economic development in the society.
RFV’s investment will seek collaboration with fintech and food & agri companies who are able to offer customers new possibilities at the same time provide innovative solutions to their wants.
The venture will ensure closer relationship with the bank to increase activity in the region and achieve collective value for the initiative.
In order to deliver on its mandate, RFV will be guided by four themes namely financial cruise control, platform banking, emerging technologies as a business model enabler and data4food.
The funding will support start-ups as well as spin-offs and scale-ups.
According to Rabobank, start-ups such as ‘We.trade’ and ‘Peaks’ emerged from Rabobank’s internal ‘Moonshots’ accelerator programme in an effort to enhance and develop strategic innovations.
“Investing in and developing strategic innovations is a key part of Rabobank’s strategy.
We’ve been active in the worldwide fintech and food & agri ecosystem for years and have succeeded in entering into various alliances.
RFV provides Rabobank with an added vehicle for working more shoulder-to-shoulder with innovative businesses with the aim of transforming the fintech and food & agri sector and building a sustainable and future-proof banking model,” said Harrie Vollaard, responsible for Rabo Frontier Ventures.
The partnership with RFV will further the company’s stride in delivering on innovation programs through national and international partnerships.