American Express (AmEx) is launching a new multi-year USD100m fund to invest in digital commerce startups. The fund will focus on early-stage firms that will help AmEx’s digital transformation, ranging from mobile and online payments to security and analytics. AmEx will look at taking minority stakes in these firms and creating partnerships, while its portfolio companies will have access to not only AmEx’s customers but its employees, customer service and data.
AmEx is currently developing a digital wallet system called Serve, and has been investing in startups like mobile payments firm PayFone. The company has made forays into the digital deals market through partnerships with Foursquare, Facebook and SCVNGR. The new fund will operate out of AmEx’s new office in Silicon Valley.
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