15th Apr 2024 06:55
(Alliance News) - Standard Chartered PLC is becoming a shareholder in London-based fintech Algbra Group Ltd, Sky News reported Monday.
The Asia-focused lender will use Algbra's technology to build Shoal, a new digital banking venture that Standard Chartered announced in 2021, aimed at combating climate change.
StanChart's investment in Algbra, via the bank's Singapore-based platform SC Ventures, will be for a minimum USD10 million, Sky said citing unnamed city sources.
https://news.sky.com/story/standard-chartered-arm-takes-stake-in-british-fintech-algbra-13115431
By Tom Budszus, Alliance News slot editor
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