- Banco Sabadell’s digital hub carries out its first investment in Spain, after its initial investment in British startup Bud.
- Alongside InnoCapital –the corporate venture vehicle of InnoCells–, Murcia Emprende SCR, Serban Biometrics and a consortium of well-known business persons from Murcia (business angels) are also participating in the investment round.
- Biometric Vox, a company hailing from Murcia, offers authentication and biometric voice signing solutions.
- Banco Sabadell already has fifty startups in its portfolio, thanks to its three investment vehicles.
InnoCells, Banco Sabadell’s new digital business hub has led an investment round for Biometric Vox, a Spanish startup which offers authentication and advanced electronic signature solutions through voice biometrics.
The company, located in Murcia, has raised more than 1 million euros in seed capital through different investors: InnoCapital –the corporate venture vehicle of InnoCells, Murcia Emprende SCR, Serban Biometrics and a consortium of well-known business persons from the region of Murcia (business angels).
InnoCapital carries out strategic digital and technological investments in businesses in their seed stages, A and B series, relating to areas of strategic interest for Banco Sabadell Group.
Biometric Vox was created in Murcia in 2015. The startup offers multiple products based on voice biometrics. These products are created based on machine learning techniques which are adaptable to each context and customer.
- CheckVox is a voice identification solution developed using in-house technology, tested in extreme situations, such as the agricultural environment. CheckVox has been granted the National Association of Appraisers and Legal Information Technology Experts (Asociación Nacional de Tasadores y Peritos Judiciales Informáticos).
- FirVox is the first advanced voice biometrics platform, created under European Regulation 910/2014 (eIDAS). It provides a legally binding electronic signature which is backed by the European Agency of Digital Trust (EADTrust).
Joaquín Cros, founder of Biometric Vox, highlights the importance of this investment to “speed up the international expansion of the company and to benefit the human team involved in the project.” “This new stage represents a huge step forward towards new research lines”, according to Cros.
Julio Martínez, Executive Director of InnoCells, highlights: “The solutions which Biometric Vox offers satisfy the increasing demand for personalisation, immediacy and security in the consumption of financial and non-financial services. At InnoCells we are committed to startups such as Biometric Vox, which are pursuing technology and digital leadership, and work with a strategic vision of a business model which is based on clear market trends.”
InnoCells explores areas of strategic collaboration with startups, fintechs, digital players, and the foreign innovation ecosystem to create value for customers of Banco Sabadell Group.
In October, the InnoCells team co-led its first investment for the amount of 1.5 million pounds (around 1.6 million euros) of seed capital at Bud, the leading British platform for the integration of solutions and financial products in a single marketplace.
More information about Banco Sabadell and innovation
Banco Sabadell’s overall support strategy for start-ups includes funding, capital investment and innovation from different divisions of the bank. The BStartup Division was created in 2013, with specialised branches located throughout Spain, allowing start-ups to access specialised banking services and funding. In the same year, it created its investment vehicle, BStartup10, for early-stage start-ups. In 2015, it set up Sabadell Venture Capital for capital investments and Venture Debt of up to 2 million euros in seed-stage and Series A-stage start-ups. InnoCells was created in 2017, the hub for new digital businesses, and its corporate venture vehicle, InnoCapital. Banco Sabadell has allocated more than 140 million euros to startups, both in terms of funding as well as investment, with more than 2,500 customers of this type of company and more than fifty startups in its portfolio.