BankTech Ventures Invests $13.5M in Six Fintech Startups

Published 7 months ago
  BankTech Ventures

BankTech Ventures, a strategic investment fund committed to enhancing community banks, has announced a total investment of $13.5 million in six fintech companies during the second half of 2023. The fund has already invested over $40 million in companies that collaborate with community banks. This new investment aims to assist community banks in areas such as revenue, deposit growth, security, compliance, data analysis, and customer marketing.

Details of the New Investments

Among the recent investments, BankTech Ventures led a $2.5M Series A funding round for Vero Technologies, an enterprise that enables wholesale finance for banks to offer to inventory-based businesses. Finosec, a company that enhances financial institutions’ IT governance, audit, and exam readiness, received $2M in a SAFE round with BankTech as the sole investor.

Micronotes, a platform that uses big data, AI, and automation to transform digital channels into personalized revenue generators, attracted $2M from BankTech in its Series C funding round. Equabli, a B2B platform for financial firms’ credit management, collections, and recovery, raised $1M in a SAFE round from BankTech. Revio, a company providing unique insights and analysis into a bank’s current transactions, received $1M in a Series A funding round co-led by BankTech.

Finally, BankTech contributed $5M in BillGo’s Series B extension funding round. BillGo enables modern, real-time customer bill pay.

BankTech’s Fintech Mission

According to Carey Ransom, Managing Director at BankTech Ventures, their mission is to bridge the gap between fintechs and the community banking industry. They have developed an ecosystem that facilitates this connection. The companies they have chosen to invest in have provided transformation opportunities and business growth for the community banks involved.

With over 100 banks in the BankTech Ventures Fund, more than 1000 companies in the pipeline, and 17 investments, BankTech is on a quest to revolutionize community banking. Founded collaboratively by seasoned bankers and fintech entrepreneurs, BankTech’s primary goal is to identify, validate, and invest in innovative solutions tailored specifically to the unique needs of community banks.