FPS advises main incubator GmbH on investment in FinTech Conpend
Frankfurt, March 21, 2019 — Business law firm FPS provided comprehensive advice to main incubator GmbH, the research and development unit of Commerzbank Group, on its venture capital investment in Dutch FinTech start-up Conpend, led by attorney Philipp Weber.
main incubator GmbH, the research and development unit of Commerzbank Group, is investing a six-figure sum in the Dutch FinTech start-up Conpend. Conpend digitizes the mostly manual and paper-heavy processes in the trade finance business. Conpend’s TRAFINAS software solution enables banks to digitize today’s trade finance process within a few months, reducing processing time by up to 50 percent.
main incubator GmbH, a wholly owned subsidiary of Commerzbank, researches future technologies such as blockchain, artificial intelligence and robotics and uses existing solutions or develops its own for the banking of the future.
Headquartered in the Netherlands, start-up Conpend works closely with strategic partners to support a global customer base. Conpend’s focus is on the compliance-compliant digitization and automation of trade finance, and thanks to market-leading technology, the start-up simplifies back-office processes and enables the reduction of risks.
Advisors to main incubator GmbH: FPS Fritze Wicke Seelig, Frankfurt am Main
Philipp Weber, Associate Partner, Lead Partner (Venture Capital, M&A, Corporate);
AKD Advocaten, Netherlands: Nathalie van Woerkom, Partner, Lead (Dutch law)