ING has spun out Katana, the advanced analytics platform that supports portfolio managers in making faster and sharper investment decisions, into a London-based standalone company called Katana Labs. ING Ventures will invest a further £1.5 million alongside other investors, as part of a £3 million funding round, according to ING.
“A growing number of clients are discovering the advantages of using advanced analytics in decision-making. It enables them to work faster and more efficiently,” said Santiago Braje, CEO of Katana and former head of Credit Trading at ING.
“Supported by ING, we developed, tested and validated the technology. Now it’s time to move to the next phase as an independent fintech. We are very excited about the opportunities we see in developing our platform further and expanding our client base.”
“At ING, when it comes to innovation, we step out of our comfort zone. We think big, start small and scale fast. In the past few years, Katana has managed to grow from an internal innovation project to a serious value proposition for bond investors. We attracted major clients who see the added value of this super smart AI-tool. I’m proud that with our support Katana grew out to a fully-grown fintech that is ready for an independent future,” said Annerie Vreugdenhil, head of Innovation at ING Wholesale Banking.