Tenity, an early-stage investor in fintech and insurtech firms, has expanded its “innovation ecosystem” through the acquisition of Hackquarters, a startup accelerator well-established in the fintech sector.
This acquisition enhances Tenity’s presence by adding hubs in London and Istanbul to its existing locations in Switzerland, Singapore, the Nordics, Baltics, and Spain, thereby extending its footprint across Europe, MENA, and APAC regions.
The newly combined entity collaborates with nearly 70 corporate partners and boasts over 1,100 alumni startups that have collectively raised $1 billion in funding. It has launched more than 150 startup programs and has access to a network of over 1,000 mentors.
This merger is expected to provide startups with increased opportunities and a wider geographic scope. Corporations will benefit from a richer partner network and an extensive startup ecosystem, while investors can look forward to a rise in deal flow, according to Tenity.
Andreas Iten, CEO of Tenity, commented, “With the acquisition of Hackquarters, we see a remarkable opportunity to create additional value for our ecosystem and partners. Together, we can create synergies across geographies, foster knowledge transfer, and generate a powerful network effect.”