Innovation: Intesa Sanpaolo finances the growth of the Marche-based Teamgroove

Intesa Sanpaolo provides €500,000 to finance the growth of the innovative Marche startup Teamgroove.

More specifically, the financing will support:

• new recruitments
• expansion of outlet markets
• research and development with a focus on Artificial Intelligence integration.

This is a “Convertible Business” loan, designed to support the launch or development plans of innovative startups already operating in a venture capital context: it provides for the possibility of a share capital increase with the entry of new shareholders, including the option for the bank to convert the loan into a shareholding.

Teamgroove was established with the mission of innovating corporate organisational models for project and team management, supporting them with advanced technology.

Photo credits: courtesy Teamgroove