Santander Spins Out Mouro Capital With $400M for Fintech Investments

Banco Santander announced the spin-out of its fintech-focused venture capital unit, Santander InnoVentures, into an independent fund named Mouro Capital. The bank doubled the allocated funds to $400 million, signaling a deepened commitment to fintech investing. Mouro Capital will operate independently but continue to be backed by Santander, investing in fintechs and financial services businesses globally.

The restructuring gives the fund more flexibility in deal-making and portfolio management while maintaining a strategic relationship with one of Europe's largest banks. Santander InnoVentures had previously invested in notable fintechs across payments, lending, and banking infrastructure. The spin-out reflects a broader trend of banks professionalizing their venture activities and providing fintech partners with capital alongside potential distribution partnerships.

Mouro Capital is expected to continue targeting companies across the embedded finance and digital banking ecosystem.