Fin VC, an asset management firm specialising in B2B fintech startups, has announced the closing of three new funds totalling more than $400m along with a $200m SPAC listing.
Now with more than $1 billion in assets under management, Fin VC plans to focus on investment in fintechs at every stage in their life cycle including pre-seed, Series B, growth and even public listings.
The Wall Street Journal reported in May that the firm sought $300m for two new funds focused on early stage and growth-stage fintechs.
With a London Q1 2022 expansion in the pipeline, Fin VC will likely be looking to use the funds to take a slice out of the European fintech pie and add to its burgeoning roster of unicorns. Despite being founded as recently as 2018, the company counts nine unicorns in its mitts including Pipe, Tradeshift and SoFi. Fin VC already invested in a few European startups too including verification firm Onfido and crypto-friendly wallet Numbrs.
In an announcement on November 8, Fin VC founding partner Logan Allin said, "Fintech is booming across the U.K. and Europe, thanks to innovation-friendly regulation and open banking laws, and we are seeing exceptional entrepreneurs scale and outpace their global counterparts."