Asset management house Schroders has taken a minority stake in Qwil Messenger, the first fintech start-up to have joined its global in-residence programme.
Schroders began offering desk space alongside funding and collaboration opportunities to fintech startups in March as part of a global 'in-residence' programme dubbed 'Cobalt'.
Qiwi Messenger, the first firm to join Cobalt, formally launched its app-based compliance chat platform in July, having worked with Schroders inhouse team to build a product capable of navigating the complex security and regulatory requirements of global enterprises.
The messaging app is now being used within various parts of Schroders’ businesses, in addition to other financial services and professional firms.
Graham Kellen, chief digital officer, Schroders, says: “Qwil has developed a product which we believe has significant potential to improve the engagement Schroders has with clients, partners and businesses. We are excited to be taking a minority stake in Qwil, joining their board and further backing its growth. This investment is already tangible evidence of the success of Schroders’ Cobalt programme.”