What do insurtech, equity crowdfunding, and Turin have in common?
Neva Finventures is a pretty good answer.
This week we spent some time in Turin for the Techstars Startup Week Torino in the brand new spaces of the OGR, where we had the chance to hear the pitches of Yolo and BacktoWork24. Both companies recently closed investment rounds with the contribution of Neva Finventures. The VC took up the lead investor baton for the 5M€ round in Yolo and supported the Series A round in BacktoWork24 with 4M€.
Neva Finventures is the Corporate Venture Capital arm of the Intesa Sanpaolo group, it focuses its investments on FinTechs with synergies with the group’s businesses with a focus on the European, USA, and Israeli markets. In order to support great high-potential Italian startups it also invests in non-fintech startups targeting the key sectors of data-driven economy and circular economy.
Intesa Sanpaolo is one of the largest financial players in the Eurozone with a market cap of more than 30B €. The group serves 11.8M clients in Italy with services in the retail, corporate, and wealth management sectors. In addition it has 7.3M clients internationally with a focus on commercial banking and a strong presence with its corporate services in Middle East, North Africa, and other key markets such as the US, China, and India.