Today Tenity, a leading fintech and insurtech innovation ecosystem and early-stage investor with hubs across Europe and Asia, announced an agreement to fully acquire Hackquarters, a long-established London and Istanbul-based startup accelerator and corporate innovation partner with a strong footprint in the fintech space. The funding was undisclosed.
The combined innovation ecosystem will count 6 hubs across Europe and Asia, working with close to 70 Corporate Partners, 1100+ alumni startups with $ 1 billion combined funding raised, 150+ startup programs run, 230+ collaborations facilitated, and a 1000+ strong mentor network.
This strategic acquisition is an important step in the company's growth strategy, creating powerful synergies in innovation program delivery and geographic reach.
The company will offer an enriched network, presenting startups with greater opportunities and a broader geographic canvas.
Corporates will benefit from an enhanced partner network, comprehensive innovation solutions, and a vast startup ecosystem.
Investors can anticipate a surge in deal flow and a strengthened geographic footprint. Public institutions and associations will witness a positive ripple effect on local economies, job creation, and innovation potential.
According to Andreas Iten, CEO and Co-Founder of Tenity:
"The landscape of corporate accelerators and incubators in Europe is highly fragmented, presenting unique challenges for corporates looking for the right partner.
With the acquisition of Hackquarters, we see a remarkable opportunity to create additional value for our ecosystem and partners.
Together, we can create synergies across geographies, foster knowledge transfer, and generate a powerful network effect. We're confident that Hackquarters is the perfect partner to achieve these goals."
Kaan Akin, Founder and CEO of Hackquarters, will transition into a leadership role within Tenity as Managing Partner.
"I am thrilled to join Tenity and continue to drive forward our shared vision," said Akin.
"Our combined strength presents a fantastic opportunity to accelerate the delivery of innovative solutions to our corporate partners and startups."