Swiss fintech incubator Tenity is enhancing its commitment to Decentralized Finance (DeFi) by launching an early-stage fund dedicated to supporting innovative startups that are developing blockchain-based services on the Ripple XRP ledger.
The Tenity Inc Fund II is focused on the fintech and insurtech sectors, investing at the pre-seed and seed stages through its accelerator programs located in Zurich, Singapore, and Tallinn. The fund aims to be the primary institutional investor in emerging startups, providing essential funding, hands-on support, and extensive networking opportunities.
With initial backing from renowned financial entities such as UBS, SIX Group, Julius Baer, and Generali’s House of InsurTech Switzerland, the fund is pleased to announce that Ripple has joined as a strategic and limited partner. This partnership formalizes an 18-month collaboration that has already supported 29 startups leveraging the XRP technology on a global scale.
Andreas Iten, CEO and co-founder of Tenity, stated, “We are convinced that decentralized finance is revolutionizing the financial services landscape by delivering more accessible, efficient, and innovative solutions. By enabling startups to spearhead this transformation, we aim to accelerate the advancement of technologies that address real-world challenges and redefine the global financial system.”