FinTech Collective raises $250m for new early-stage investments
Fintech-focused venture capital firm FinTech Collective has raised $250 million to fuel its investment strategies.
It says $200 million will be used for early-stage investments while $50 million will be dedicated to opportunities in the decentralised finance (DeFi) space.
The capital fundraised across these two strategies brings the firm’s total assets under management to over $500 million.
FinTech Collective says it wants to capitalise on the fintech market opportunities provided by the COVID-19 pandemic and focus on the accelerating shift to digital in traditional finance and the scaling of the digital assets ecosystem.
20% of FinTech Collective’s current investments are blockchain and DeFi-related companies, including five fintech unicorns valued at more than a billion dollars.
Founded in 2012, FinTech Collective invests globally across capital markets, wealth management, banking, lending, payments, insurance and digital assets. It currently has 53 companies operating in the US, Latin America, UK, Europe and Africa.
The firm’s notable exits include data platform Quovo to banking data fintech Plaid, credit rating analytics firm Reorg Research to private equity firm Warburg Pincus, and digital bank MoneyLion, which announced it will go public through a SPAC merger in a $2.9 billion deal.
FinTech Collective managing partner Brooks Gibbins says: “We believe the next 30 years represent an unprecedented period when every facet of financial services will be deconstructed and reconstructed, and our deep global roots, particularly in the New York and European ecosystems, allows us to take advantage of this tremendous opportunity.”