ROME, Might 9 (Reuters) – Italy’s largest financial institution Intesa Sanpaolo (ISP.MI) stated on Tuesday it was investing 70 million euros ($77 million) to foster the worldwide progress of Bending Spoons, one of many nation’s most profitable app builders.
Milan-based Bending Spoons has registered greater than 500 million downloads and has 90 million month-to-month lively customers, in keeping with its web site. Its apps embrace widespread video enhancing software Splice and Remini, a picture editor based mostly on synthetic intelligence.
Intesa stated its financing, to be backed by Italy’s export credit score company SACE, goals to assist the corporate’s overseas growth by the acquisition of belongings and the event of apps in the USA, South America, Europe, Asia and Oceania.
Bending Spoons was based in 2013 in Copenhagen however moved its headquarters to Italy the next yr. 4 of its 5 founders are Italian.
It stated in September final yr it had raised greater than $340 million from traders together with Hollywood actor Ryan Reynolds and Kerry Trainor, the previous CEO of video streaming platform Vimeo (VMEO.O).
In 2020 it additionally developed the Immuni app, which was supposed to assist hint COVID-19 infections in Italy however had little affect on efforts to curb the pandemic.
($1 = 0.9084 euros)
Reporting By Gavin Jones, enhancing by Keith Weir
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