Clifford Chance has advised Banco Santander on its joint venture agreement to launch a fintech venture builder later this year with Monitise plc.

The 50:50 joint venture will operate from London and will be aimed at investing in fintech businesses which will benefit from partnership with the largest bank in the euro zone by market capitalisation and with a world leader in mobile money technology.

The Clifford Chance team advising Banco Santander on the agreement was led by corporate partner Steven Fox, supported by senior associate Daud Khan and associate Anthony Martinez.

In December 2014, Clifford Chance advised Banco Santander on its strategic investment in Monitise.