FibaBanka - Corporate Venture Capital
Project Type: Investment/CVC
Project Scope
Fibabanka was officially established in December 2010, driven by the motto “Agile thinking, agile solutions”. However, as a startup bank looking to break into a crowded financial sector, Fibabanka has had trouble establishing a clear value proposition to customers and competitive advantage in the marketplace. Rather than pursuing traditional growth strategies led by branch formation, Fibabanka sought to leverage startup partnerships to reach new customers and grow its portfolio. Core Strateji was tasked with formulating such a strategy and creating an investment vehicle to deliver on the strategy.
Project Delivery
With direction from Core Strateji, Fibabanka formed one of the first retail-banking led corporate venture capital funds in Turkey, Finberg, focusing on small business banking opportunities. Serving as a multi CVC Finberg coordinates effective partnerships between holding companies and startups. Through investments and strategic partnerships, it establishes a foundation for an innovative, customer-focused approach to financial technology.
Core Strateji also led the CVC team in scouting, evaluating and negotiating investment and partnership opportunities with fintech startups. Core Strateji also supported the bank in creating internal systems and processes to support startup integration with the bank’s operations.
Çıktılar & Sonuç
Finberg, a subsidiary of Fibabanka, manages the Opportunity Fund, Finberg Star Fund, and Finberg Innovative Fintech and Retail Technology Solutions Funds. These funds allow not only Fibabanka but also other companies within the Fiba Group to invest and support ventures that can benefit from the synergy of Oyak and Fiba Group.
Established in April 2018, Finberg is an asset management company that has invested over $47 million in 28 startups and 7 funds to date.