Mr. Ignacio Deschamps reports
SCOTIABANK EXTENDS PARTNERSHIP WITH QED INVESTORS TO PROMOTE FINTECH GROWTH IN LATIN AMERICA
Bank of Nova Scotia (Scotiabank) and QED Investors have extended their partnership supporting Latin America's fintech (financial technology) sector with capital and industry expertise. Two years after their initial partnership, Scotiabank and QED Investors have established a second fund, QED LatAm Fund II LP, to invest in and promote the growth of innovative fintech start-ups in the region.
Through its partnership with QED Investors, Scotiabank has already invested in multiple fintech companies across Latin America. Scotiabank is further leveraging the portfolio companies by exploring partnership and pilot opportunities such as Konfio, a small business lending platform, and Coru, a financial product comparison platform. Engagements like these help Scotiabank find new ways to improve the customer experience, enhance efficiencies and foster digital learnings.
"We are excited to extend our partnership with QED Investors as their experience and deep understanding of customer trends, fintech business models and digital disruption creates value for our customers and shareholders," said Ignacio (Nacho) Deschamps, group head, international banking and digital transformation, at Scotiabank. "With QED's proven track record in identifying and growing fintechs, we remain uniquely positioned to partner with the best emerging fintechs in Latin America."
"QED is thrilled to deepen our close relationship with Scotiabank," said Nigel Morris, managing partner of QED Investors. "They are a terrific partner and we've made great progress the last two years with our investments in LatAm. Scotiabank brings much to the table. Together with QED's expertise in curating and evaluating the best entrepreneurs in the region, we've been able to generate uncommonly positive outcomes in partnership with Scotiabank. We continue to see massive opportunity for fintech in the region anchored by the ability to improve the customer experience and to make financial services more accessible in the market."
Scotiabank is driving its digital transformation through increased commitments to technology and customer experience. Venture capital firms such as QED have been vital contributors to Scotiabank's goal of becoming a digital leader in financial services and the partner of choice for fintechs in its five key markets:
Canada and the Pacific Alliance nations of Mexico, Peru, Chile and Colombia.
QED Investors was co-founded by Mr. Morris, who also co-founded Capital One. QED brings decades of experience as investors, operators and business builders. It has a record of identifying the most promising fintech companies and then leveraging its knowledge, connections and experience to help companies achieve rapid growth. QED has developed a strong portfolio in Latin America, including Nubank, Guiabolso, Coru, Konfio, Creditas, Tienda Pago, Credijusto, Xerpa and Zinobe.
About Bank of Nova Scotia
Scotiabank is Canada's international bank and a leading financial services provider in the Americas. The bank is dedicated to helping its more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. The bank has a team of more than 97,000 employees and assets of $998-billion (as at Oct. 31, 2018).
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