Swiss fintech incubator Tenity is expanding its focus on Decentralized Finance though an early-stage fund backing promising startups building blockchain-based services on Ripple's XRP ledger.
The Tenity Inc Fund II invests in the broader fintech & insurtech space at pre-seed and seed stage through its accelerator programs in Zurich, Singapore, and Tallinn. The fund targets to be the first institutional investor in a startup, supplying the team with funding, hands-on support and network.
Backed by initial investments from UBS, SIX Group, Julius Baer, and Generali’s House of InsurTech Switzerland, the fund has now welcomed Ripple as a strategic partner and limited partner, formalising an 18-month long collaboration that has supported 29 XRP startups globally
“We believe decentralized finance is reshaping the future of financial services by offering more accessible, efficient, and innovative solutions,” says Andreas Iten, CEO and co-founder at Tenity. “By empowering startups to drive this transformation, we aim to accelerate the development of technologies that can solve real-world challenges and redefine the way financial systems operate globally.”