Emirates NBD has made a strategic equity investment in Erguvan, a climate and fintech venture that provides financial institutions and corporations with digital infrastructure, according to a press release.
The transaction was concluded through Deniz Ventures, an investment fund launched by DenizBank A.S., Turkey under the umbrella of Emirates NBD Innovation Fund, the Corporate Venture Capital arm of the UAE group.
This followed Emirates NBD’s recent launch of a sustainability-themed accelerator programme to back sustainable banking solutions for the future.
The fund was created to secure investments in relevant fintech, such as tech firms and start-ups across Emirates NBD’s key markets, including Turkey.
Established in 2022, Erguvan aimed to drive progress in the field of climate change.
Neeraj Makin, Group Head of Strategy, Analytics & Venture Capital, Emirates NBD, said: “As one of UAE’s leading financial institutions, we are looking to set a global benchmark for technology-driven ESG solutions, and such investments through our Innovation Fund bring us one step closer to achieving our aspirations.”
Vijay Bains, Group Chief Sustainability Officer and Group Head of ESG at Emirates NBD, commented: “Our investment in Erguvan marks a significant milestone in our sustainability journey, and demonstrates our commitment to integrating ESG in our strategy and investment decisions.”
“It also aligns with our ambition of leveraging cutting-edge innovation to tackle global energy challenges,” Bains added.
He noted: “Our partnership with Erguvan gives us access to powerful tools that will help assess environmental impact, enhance our sustainability strategies, as well as manage carbon footprint for us and our clients.”
Earlier this month, the DFM-listed lender invested in Switzerland-based technology services firm Komgo.
All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).