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Dutch Founders Fund launching partner in the #Fundright movement.

Author
Bas Rieter
Date
July 10, 2019

Amsterdam-based fintech company Blanco will bring its technology platform for financial service providers to France and Germany. The company is raising new growth money to strengthen its position in two countries.

Blanco provides asset managers and banks with an investment platform based on cloud technology, including for the registration and risk profiling of asset management clients, but also for matters such as identifying account holders via facial recognition.

The company has now sold its system to forty Dutch and Belgian asset managers and financial institutions. The start-up focuses on a segment that is increasingly dealing with regulators.

In the fight against money laundering and counter-terrorism, these companies need to better identify who they are doing business with. Blanco has greatly simplified the so-called know-your-customer procedure.

“Supervisor DNB requires every financial service provider to carry out remedial actions.” Existing customers also have to go through the verification process again. “You can organize such a process yourself and invest a lot or buy it off the shelf,” says Blanco founder Joost Walgemoed.

Just Eat and satellites

Now that Blanco has a strong position in the Netherlands and Belgium, it wants to focus on neighboring countries. The Dutch Founders Fund, which previously invested in delivery service Just Eat, the satellite start-up Hiber and the appointment platform Treatwell, will take on the major part of the investment, totaling € 2 million. Existing shareholders Volta Ventures and KBC Start IT Fund also participate in the last round.

Blanco was founded by several former BinckBank employees and has been active in the asset management administration market since 2015. Binck co-founder Kalo Bagijn joins Blanco’s advisory board.

Under the name #FundRight Dutch Founders Fund and 21 other progressive venture capital investors under which CapitalT, Peak Capital, INKEF Capital, Innovation Quarter, Keen Venture Partners, KPN Ventures, The Next woman, Slingshot, Tablomonto, VOC Capital Partners and TechLeap.NL are taking the joint initiative to lead to a more diverse startup ecosystem. We call on other VCs to also commit to this goal by signing the diversity statement.

The VC’s are concerned about the male dominance in the tech sector and about the fact that currently only 1.6 % of all Dutch venture capital is invested in women-led start-ups and only 6,8% in mixed teams. This is despite the fact that research shows that various teams have a positive impact on performance. Moreover, investing in diversity is the only right way to go.

At the same time, we also recognize that we as VC’s hold the key to success to closing the gap between the amount of growth capital raised by the male and female founders of Dutch startups. As VC’s, we also have a duty and responsibility to invest more in female founders.

Statement
That is why Dutch Founders Fund, together with the other progressive VC’s as is committed to the following actions:

– Within 3 years after this statement, we as X (NAME VC), as well as within the management teams of our current and future portfolio companies, want to have a staff of 35% women.
– A significant percentage of the companies in which we (co)invest, must be (co)founded by a woman.
– We will be working on an annual report with the most important statistics on the gender diversity of Dutch venture capital investors and their portfolio companies. This report is made by TechLeap.NL.
– We actively disseminate our statement, share our experiences and approaches with each other, with the ultimate goal of having 100% of all Dutch venture capital investors subscribed by 2022.

With these actions, we take a stand with regard to #FundRight and invite other parties to endorse the statement as well. Together we can make a difference in achieving a diverse startup ecosystem!

For more information about the initiative, the statement, the affiliated VC’s and the female founders involved: www.fundright.nl

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