ASIF manages a €1 million fund and is planning to invest it in promising initiatives in the coming years. The recipient of the first-ever investment is Dyme, an alumnus of the ACE incubator programme and a fast-growing startup. Dyme’s app utilises advanced machine learning algorithms to provide an overview of users’ recurring expenses and to enable them to easily switch or cancel subscriptions. The company plans to use the investment to roll the app out across the Netherlands. ASIF’s former board member Gijs Schot, who was closely involved in the investment, says: “After a year of preparation and months of research, we have found a party with enormous potential.”
For its product, Dyme is benefiting from the EU’s PSD2 directive, which enables third-party access into payment accounts and has kick-started a slew of FinTech innovations in Amsterdam and elsewhere. Amsterdam’s booming FinTech ecosystem is further bolstered by a growing tech industry, robust banking sector and thriving startup scene.
Investment for students, by students
Set up only a year ago, ASIF empowers young entrepreneurs in Amsterdam to rapidly develop their startup and aims to build bridges between the city’s student community and its booming startup ecosystem. It receives its funding from both public and private sources – half is provided by the University of Amsterdam, while the other half is raised from private investors. ASIF also invests socially, organising events where students can learn about entrepreneurship and venture capital, meet startups and other potential employers and network with like-minded students.