Business, News

Union Bank Unveils TechVentures, Supports Tech-Based Businesses

Union Bank has launched TechVentures, a unique banking proposition which provides tailored services to technology companies.

The solution was launched at TechPoint Build, a leading technology conference for tech experts, investors, start-ups and owners of tech-enabled businesses held in Lagos.

TechVentures supports tech-based businesses in various stages of their lifecycles, providing them services which include access to venture capital funding, business advisory and mentorship as well as accelerator partnerships.

Mr. Kunle Sonola, Head of Commercial Banking, Union Bank, said;

READ  FirstBank Boss, Dr Adesola Adeduntan And Team Visit Olofa Of Offa

“The Bank is focused on developing services that offer real value-adding solutions for emerging and established sectors and ecosystems in Nigeria.”

“We designed TechVentures in response to the emergence and accelerated growth we see in the tech space.”

“Our goal is to capture these businesses from startup stage, when they are just nursing an idea, and support them until they build unicorns because we believe that these businesses will drive a new economy in Nigeria.”

Also, Union Bank, said; “It is committed to being Nigeria’s most reliable and trusted banking partner and focused on delivering the simplest, smartest solutions and guaranteeing the best experience every time, with a strategy focused on upskilled employees, optimized processes and platforms, robust technology and a re-energized brand.”

In 2017, the bank launched an annual innovation challenge to encourage budding entrepreneurs who are working on innovative solutions that address social and business challenges.

Last year, the Bank in partnership with Co-Creation Hub also launched a first-of-its-kind business acceleration programme ‘Startup Connect’ which provides an opportunity for Nigerian businesses to create technology-based solutions for the emerging African market, to partner with the Bank and the social innovation center for rapid growth.