24 February, 2016, USA: 500 Startups is excited to announce a new vertical fund, 500 FinTech, which will focus on investments in companies that the firm is deeming as: ‘Financial Services For the Rest of Us.’
Over the last 6 years, 500 Startups has made some great investments in the FinTech space. With nearly 80 investments in 10 countries, including CreditKarma, Flywire, FeeFighters (acquired by Groupon), Simple (acquired by BBVA), iMoney, and RealtyShares, CB Insights have tapped 500 as the most active early-stage FinTech investor in the world.
Company’s FinTech fund, targeting a US $25M raise, will let it invest in 100 early stage companies globally. It will work with entrepreneurs delivering superior value to underserved audiences – whether directly, or in partnership with traditional players. 500 Startups is targeting startups in lending, investment advisory, personal finance management, blockchain, money movement and insurance. The company plans to accelerate 20 plus startups per year in the San Francisco Bay Area.
Its FinTech partner program helps to bridge the gap between FinTech startups and established players, providing its portfolio companies with access to the expertise, distribution and infrastructure that financial services startups need to scale, and providing banks, insurance companies, software companies, data providers and investors access to vetted FinTech startups from 50 countries around the world.