Tenity, a company that looks for new investment opportunities in insurtech and fintech, recently acquired Hackquarters — a startup accelerator that also has a strong presence in fintech.
Hackquarters joins Tenity’s massive ecosystem
Tenity is a company that seeks to make early-stage investments, and it is also well known for building up an innovation ecosystem. Now, it announced a new deal, that will allow it to add hubs in London and Istanbul to its established bases in Singapore, Switzerland, the Nordics and Baltics, as well as Spain. The firm’s presence and footprint will expand across Europe, Mena, and Apac.
The massive ecosystem that the firm has built allows it to work with around 70 different corporate partners, as well as over 1100 alumni startups with combined funding raised exceeding $1 billion.
It also has over 150 startup programs run, and a mentor network that numbers over 1000 participants.
This stands to bring a number of new benefits and even greater opportunities to startups, as well as a broader geographic canvas. For corporates, the benefits come from the ability to access the advanced partner network and the massive ecosystem of startups, each offering its own unique opportunities.
As for investors, they get to anticipate a significant increase in deal flow, according to Tenity. The company’s CEO, Andreas Iten, commented on the acquisition, stating that it will bring remarkable opportunities to create additional value for the firm’s ecosystem and partners.
He added that together, Tenity and Hackquarters can create synergies across geographies, generate a powerful network effect, and foster knowledge transfer for everyone’s benefit.
A big move for Tenity
Tenity’s strategic acquisition is an important step in its overall growth strategy. Iten also added: “The landscape of corporate accelerators and incubators in Europe is highly fragmented, presenting unique challenges for corporates looking for the right partner. With the acquisition of Hackquarters, we see a remarkable opportunity to create additional value for our ecosystem and partners.“
On the other hand, Hackquarters CEO and founder Kaan Akin commented on the move as well, starting by acknowledging his transition into a leadership role within Tenity, where he will now start operating as a managing partner.
He noted that he is thrilled to join Tenity and continue to drive forward the shared vision that both entities have. He also added that their combined strength presents a fantastic opportunity to accelerate the delivery of innovative solutions to both the two companies’ corporate partners, as well as startups, which will experience it as a unique opportunity.