Ripple Investor Santander InnoVentures Increases Its Investments In San Francisco

Santander InnoVentures Increases Its Investments In San Francisco

Santander InnoVentures, Santander’s global corporate venture capital fund, has recently announced that it has appointed Chris Gottschalk as an adviser to increase its presence in the United States. The information was released by PYMNTS a few days ago.

Santander InnoVentures Expands In San Francisco

Santander, one of the largest banks in Europe, is expanding in North America with a new $200 million fund to increase its presence in the United States. Gottschalk will be located in San Francisco and it will focus on strengthening the fund with different investment opportunities.

Back in October 2015, Santander InnoVentures joined the Series A funding round as an investor. The intention was to support real-time international payments offered by Ripple.

In a recent report released by Fintech Finance, Gottschalk will be giving the fund’s non-U.S. portfolio companies a stronger entrance into North America.

Manuel Silva Martínez, a partner at Santander InnoVentures, commented in a press release:

“Chris joining the team allows us to realize our vision of being local investors in the markets we are most active in, building a permanent bridge between Silicon Valley and Europe, and allowing us to better support our entrepreneurs on a global level.”

Gottschalk has previously worked at Blumberg Capital. He was principal for seven years and located in San Francisco. He also has more than 15 years as an investor in different companies such as Yotpo, Simply Credit, Roam Analytics, Lendio, Fundguard, and many others.

The decision to invest in Ripple in the past is related to the fact that they believed that there were many scenarios in which blockchain technology would have a positive impact. Ripple allows companies and individuals to send international payments in a fast and cheap way.

According to Mariano Belinky, Managing Partner of Santander InnoVentures, Ripple possesses the talent, technology, and momentum to enhance the financial world.

Ripple is an enterprise business-2-business (B2B) solution that serves the financial services industry around the world. Now, the firm has more than 200 companies using its services, and the number could eventually increase in the future.

Santander InnoVentures has already invested an estimated $4 million Ripple. In the future, the bank could keep investing in Ripple in order to enhance its services and the products that the firm offers to its clients located around the world.

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