BBVA Ventures to invest in Radius
SAN FRANCISCO, May 13, 2013
SAN FRANCISCO, May 13, 2013 /PRNewswire/ -- BBVA Ventures, the BBVA Group's
Silicon Valley-based corporate venture arm, announced last week that it will
invest in Radius, a leading provider of sales and marketing intelligence for
targeting the small business market.
BBVA's investment in Radius aligns with the Group's commitment to innovation
and provides a foundation for BBVA and Radius to work closely together to
leverage the Radius technology platform. Since its inception, BBVA Ventures
has closely worked with entrepreneurs and venture capital investors to broaden
the bank's understanding of emerging trends, helping advance innovative
initiatives in banking and finance.
Today, Radius provides key tools and data on small businesses across the
United States. BBVA will seek not only to leverage Radius' technology and
comprehensive index on small business in the U.S. market, but also to explore
strategic opportunities for international expansion of the Radius platform.
"Having worked closely with Radius, we see their technology as a key driver
and enabler for enhancing our success with small businesses in the
international markets where BBVA is present. BBVA is an active Small Business
Lender and our ability to pinpoint and track the success and health of small
business relies on the integrity and cleanliness of data available to us,
which Radius provides via an innovative set of data on small businesses that
allows us the ability to understand our customers better while also
discovering new customer opportunities through social insight," said Thomas
Whiteaker, executive director, corporate development and strategy at BBVA.
"Having BBVA invest in Radius is a testament to our reach and data integrity.
Given the bank's strong leadership in the Small Business space and
international presence, they are exactly the kind of partner we look for. It
makes sense that they would want to ensure the data they need to make key
investment decisions is accurate and up-to-date. Radius does that and more,"
said Darian Shirazi, founder and CEO of Radius.
Earlier this year BBVA announced the creation of BBVA Ventures, a strategic
initiative that will invest $100 million in startups looking to transform the
financial services industry. The bank completed its first investment in
Silicon Valley in early 2012 in the seed-capital fund and incubator 500
Startups Fund. More recently, BBVA completed investments in SaveUp and Ribbit
BBVA Group has been investing in innovation and technology for some time in
order to anticipate the deep transformation under way in the financial
industry. This transformation is already taking place with the development of
new digital channels and means of payment that are generating new customer
relationship models. Against this backdrop, BBVA's firm commitment to new
technologies through enterprises such as BBVA Ventures makes it one of the few
banks ready to tackle the changes and compete in the market.
For more financial information about BBVA visit:
For more BBVA news visit: http://press.bbva.com/
BBVA is a customer-centric global financial services group founded in 1857.
The Group has a solid position in Spain, it is the largest financial
institution in Mexico and it has leading franchises in South America and the
Sunbelt Region of the United States. Its diversified business is biased to
high-growth markets and it relies on technology as a key sustainable
competitive advantage. BBVA ranks among the leading Euro zone banks in terms
of ROE and efficiency. Corporate responsibility is at the core of its business
model. BBVA fosters financial education and inclusion, and supports scientific
research and culture. It operates with the highest integrity, a long-term
vision and applies the best practices. The Group is present in the main
Radius (http://www.radiusintel.com/) is a leading provider of sales and
marketing intelligence and allows marketers and sales teams to reach small
businesses. Based in San Francisco, the company provides a comprehensive index
of insights and data associated with more than 20 million small businesses in
the U.S. Radius' technology collects and monitors data from hundreds of
thousands of online and social sources. The easy-to-use dashboard allows
salespeople to discover new prospects, prioritize leads and synchronize data.
SOURCE BBVA Ventures
Contact: Nelli Chowdhury, Burson-Marsteller, +1 212 614 4225,
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