mBank to invest €50 million in start-ups

WSE-listed lender mBank has set up a €50 million fund for buying and developing Polish start-ups. “So far if someone in Poland had a good idea the best advice was to buy a ticket to San Francisco or London and develop your idea there,” Jarosław Mastalerz, head of the fund, said, explaining that the main reason for the bank to invest in start-ups is to keep them in Poland. mBank is looking for companies in areas such as automation, cyber security, data analytics and digital marketing. “There are plenty of companies in Poland who have no ability to reach big venture capital funds, gather financing and reach the scale. We want to create an address in Warsaw for them,” Mastalerz said at the press conference. The fund will invest in at least seven companies throughout it's panned 10 year span.