Italian Insurance Giant Will Invest €1.25bn in FinTech Startups
Europe’s third-largest insurer Generali has announced it will indirectly invest 1.25 billion euros in emerging financial technology by 2019. The Italian giant, sensing what chief executive Marco Greco called a “revolution,” will work with a group of venture capital funds including Ribbit Capital to support startups in mobile payments technology and data analysis among others, FT.com reports. “This is an industry that has been lagging behind every other industry — it has been paralyzed,” Greco said, adding: “Either you understand it and you move towards the forefront of change […] or this....
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