BankTech Ventures – a strategic investment fund focused on enhancing community banks – recently announced its continued commitment to community banks’ more vibrant futures with a total investment of $13.5 million in six fintech companies in the second half of this year. And BankTech has invested more than $40 million in companies specifically selected due to their work with community banks. The new investments are focused on helping community banks in revenue, deposit growth, security, compliance, data analysis, and customer marketing.
BankTech’s recent investments include:
— $2.5 million in Vero Technologies’ Series A Round: BankTech led Vero Technologies’ Series A funding round, which raised $8.5 million. Vero Technologies powers wholesale finance for banks to offer to inventory-based businesses.
— $2 million in Finosec’s SAFE Round: BankTech was the sole investor for the $2 million SAFE (Simple Agreement for Future Equity) round for Finosec, which improves financial institutions’ information technology governance, audit, and exam readiness.
— $2 million in Micronotes’ Series C Round: BankTech joined Micronotes’ Series C funding round, which raised $7.5 million. Micronotes turns digital channels into personalized revenue generators using big data, AI, and automation.
— $1 million in Equabli’s SAFE Round: BankTech invested in Equabli’s SAFE round, which raised $3.35 million. Equabli is a B2B platform for financial firms’ credit management, collections, and recovery.
— $1 million in Revio’s Series A Round: BankTech also co-led Revio’s Series A funding round, contributing $1 million to a total of $2.5 million raised. Revio provides unique insights and analysis into a bank’s current bank transactions and uncovers deposit and revenue opportunities in an immediately actionable way.
— $5 million in BillGo’s Series B Round: BankTech participated in BillGo’s Series B extension funding round, successfully raising $37 million. Billgo enables modern, real-time customer bill pay.
With over 100 banks in the BankTech Ventures Fund, 1000+ companies in the pipeline, and 17 investments, BankTech is on a mission to transform community banking in more ways than one. Collaboratively built by seasoned bankers and fintech entrepreneurs, BankTech’s core purpose is identifying, validating, and investing in groundbreaking solutions tailored to the unique demands of community banks.
KEY QUOTES:
“Our mission at BankTech is to better connect fintechs and the community banking industry and we’ve built a team and ecosystem to facilitate this. Our banks can attest to the transformation opportunities and business growth we’ve all seen by hand-selecting some of the most impactful companies to work with community banks. We are passionate about finding the best companies to support the future of community banking, so they can thrive and continue to enable and support their customers and communities.”
— Carey Ransom, Managing Director at BankTech Ventures
