FinTech news in Amex Ventures category

three former managing directors of Amex Ventures in early 2022 branched out to form their own fintech-focused venture firm, Vesey Ventures.

The startup, which provides multiple products for the cross-border commerce space in Africa, raised this new financing from a group of international investors co-led by American Express (AMEX) Ventures, the strategic investment group of American Express

By partnering with existing financial services platforms such as Acorns, Truebill and Albert, Trellis aims to help businesses that have an audience that are already engaged, and that they are having financial conversations with, help bring insurance into the conversation.

And today the startup is emerging from stealth with $10.8 million in pre-seed and seed financing from Contour Venture Partners, Infinity Ventures (from the team that led PayPal Ventures), B Capital, Portage Ventures, Amex Ventures and other prominent venture funds and fintech angels, it tells journalist exclusively.

Pinwheel is also the only company providing direct deposit switching and payroll data that is classified as a Consumer Reporting Agency (CRA) in compliance with the Fair Credit Reporting Act, meaning that if consumers are adversely affected by Pinwheel’s data, the company would be legally accountable.