NEW YORK – (BUSINESS WIRE) – August 20, 2021–
FinTech Collective, a venture capital firm focused on creating the future of financial services by investing in traditional financial technologies and emerging digital assets, today announced fundraising for its existing start-up strategy and for its new strategy focused on decentralized finance (DeFi). FinTech Collective has raised a combined capital of $ 250 million through the two strategies, bringing the company’s total assets under management (AUM) to more than $ 500 million.
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FinTech Collective supports entrepreneurs who are reorganizing the way money circulates around the world and invests thematically and in capital markets, wealth and asset management, bank lending and insurance.
The company has raised $ 200 million to focus on start-up investments as well as $ 50 million focused on open source and composable financial protocols and applications built on smart contract platforms such as Ethereum. The DeFi strategy will invest in the range of emerging opportunities in the decentralized finance space, including both stocks and liquid tokens.
Founded in 2012, FinTech Collective is led by Managing Partners Brooks Gibbins and Gareth Jones, who have worked together for more than two decades as entrepreneurs and operators in the fintech space, having built and sold four companies for a product of over $ 1.5 billion.
FinTech Collective invests worldwide and has 53 companies operating in USA, Latin America, UK / Europe and Africa.
Notable exits from the company include Quovo at Plaid, Reorg Research at Warburg Pincus and MoneyLion, which announced it would go public through a merger with SPAC Fusion Acquisition Corp. in a $ 2.9 billion deal.
In FinTech Collective’s current portfolios, 20% of investments are blockchain and DeFi, including five fintech unicorns, which are valued at over $ 1 billion. The company’s hit rate (companies still active) currently stands at 96%, which is remarkable because two-thirds of these initial investments were in pre-income companies.
Sponsors of FinTech Collective include some of the world’s largest and most respected institutional asset managers, including the State of Wisconsin Investment Board, the State of Illinois Teachers’ Retirement System, Greenspring Associates and StepStone Group. . New sponsors further include some of the most experienced institutional crypto investors in the United States and Europe, including DRW and Alan Howard.
“FinTech Collective was one of the first venture capital firms to recognize the fintech opportunity resulting from the global financial crisis, which served as a catalyst to unlock a generation of innovation in financial services,” said Gibbins. “We believe the next 30 years represent an unprecedented time in which every facet of financial services will be deconstructed and rebuilt, and our deep global roots, especially in New York and European ecosystems, allow us to leverage this tremendous opportunity. “
“We partner with exceptional entrepreneurs in providing deep fintech and operational capital and expertise to those who share our vision to reshape the future of markets,” said Jones. “As one of the few truly global investors in FinTech, we see huge opportunities emerging over the next decade, including the continued development of the digital asset landscape, where a new monetary system, a new transaction method and a digital store of value are being established. . We anticipate the convergence of traditional finance and DeFi, which is a particularly exciting space for us right now. “
The COVID-19 pandemic has served as a catalyst for accelerating such market opportunities, as large fintech companies nearly doubled their market value in the past year alone. Looking at consumer adoption alone, mobile banking traffic has grown 85% and online banking signups have jumped 200% in the past twelve months. Despite the phenomenal growth, there is still plenty of room for maneuver, with conventional banks still accounting for 72% of the total market value of the global banking and payments industry.
To take advantage of this accelerating secular evolution, FinTech Collective will focus on three key themes: accelerating the digital transition in traditional finance, the rise of the next billion consumers into a spending middle class in emerging markets, and the rise of the digital asset ecosystem.
About FinTech Collective
FinTech Collective is an SEC-registered investment advisor and global venture capital firm focused on tech startups with the potential to reinvent financial services. Founded in 2012, the company has extensive investment experience in capital markets, wealth management, banking, loans, payments, insurance and digital assets. The managing partners of FinTech Collective met in their mid-20s and helped create, grow and sell four fintech companies generating over $ 1.5 billion in shareholder value.
Backed by some of the world’s leading institutional investors and leading financial institutions, FinTech Collective has already invested in 53 portfolio companies. Notable investments include Anyfin (Stockholm), Axoni (NYC), Centrifuge (Berlin), Flutterwave (Lagos), IMMO Capital (London), Minu (Mexico), MoneyLion (NYC), NYDIG (NYC), Ocrolus (NYC), Quovo (NYC, acquired by Plaid), Rainbow Wallet (NYC), UMA, Vestwell (NYC) and Willa (Stockholm / LA).
FinTech Collective publishes a weekly newsletter, with more than 14,000 subscribers out of 395 issues since 2014. Subscribe here: https://www.fintech.io/newsletter
Twitter: @ fintech — io
This press release does not constitute an offer or form part of any offer or solicitation of an offer to subscribe or buy an investment by FinTech Collective Management LLC, neither the offer nor the fact of its distribution. therefore form the basis of, or should not be relied upon as part of any contract. Any such offer will be made only by means of final investment offer documents. The specific securities identified in this press release do not represent all securities bought or sold by FinTech Collective Management LLC and you should not assume that an investment in the securities identified here will ultimately pay off. The information contained in this press release is subject to change without notice to any recipient.
Registration with the SEC does not imply a certain level of skill or training.
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CONTACT: Jadis Armbruster, 646-925-9493
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SOURCE: FinTech Collective
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PUB: 08/20/2021 9:00 a.m. / DISC: 08/20/2021 9:02 a.m.