Eu-startups.com – 23 dicembre 2014
http://www.eu-startups.com/2014/12/digital-magics-signs-eur-1-mln-financing-with-gruppo-banca-sella/
The partnership between the Digital Magics incubator and the Gruppo Banca Sella banking group aims towards the acceleration of innovative startups and the strengthening of the FinTech sector. The Banca Sella Group and Digital Magics, venture incubator for innovative startups listed on the AIM market of the Italian Stock Exchange (symbol: DM), signed an agreement for the medium-term loan of €1 million, assisted by the Guarantee Fund for SMEs. This transaction strengthens Digital Magics’ incubation and acceleration services aimed at startups of its own portfolio, particularly those active in the field of innovative financial services. (Currently 6 of 40). Digital Magics is a venture incubator for innovative digital startups that offers content and services with a high technological value. Digital Magics builds and develops Internet startups, working alongside their founders, investing its capital and providing acceleration services. It starts with talent and ideas and transforms them into businesses successful in the Italian and international digital economies. The incubator promotes a culture of entrepreneurship and risk, contributing to economic growth and employment for young people. Digital Magics offers services to support innovation, creation and development of digital startups and it supports them in the search for new Italian, international, private and public investors to fund the successive stages of development. The Digital Magics model is unique in Italy and is based around the Digital Magics LAB: the team that identifies, analyses and launches new initiatives, providing innovative startups with digital business acceleration services for company development. Digital Magics has a track record of 40 investments in startups. It has achieved 6 exits and only 4 write-offs. To date, the incubator has invested approximately €14.8 million, of which 5 million comes from exits. Currently, the average investment is around €300,000. On the other side, the Banca Sella Group is an active member of the Digital Magics Angel Network, and collaborates with the venture incubator and more than 100 selected partners in the network (private investors, institutional funds and industrial operators), who provide mentorship activities and co-invest in digital startups, particularly in the FinTech field. At the time of listing on AIM Digital Magic’s, the Banca Sella Group was entered in the incubator’s shareholder structure.
