FinTech news in Fiat Ventures category

Investors into the new fund include Invesco Private Capital, which anchored the fund, DAHG Capital Partners, Joint Effects LLC, Full Spectrum Capital, Temerity Capital Partners, Now Investments, Mountaineer Capital, Permit Ventures and a group of fintech founders, including Bestow’s Jonathan Abelmann, Chime’s Kyle Daley and Mulberry’s Chinedu Eleanya. Fiat Ventures general partners Drew Glover and Alex Harris, along with managing partner Marcos Fernandez, are out to find and invest in fintech next generation of startups, and are leveraging their unconventional backgrounds to find equally unconventional founders. Some notable investments among the 22 companies in Fiat’s portfolio so far include teen-focused banking app Copper, which raised $29 million in April; insurance company Breeze, which grabbed $10 million last year; and Sleek, a one-click checkout company that bagged $1.7 million earlier this year. The early-stage VC firm started in 2021 is now armed with $25 million in capital commitments to close its first fund; the partners are targeting financial services and financial technology startups building for the 90% of Americans who don’t already have enough savings or don’t know how to start managing what they do have.

Seattle-based Copper offers features such as personalized debit cards, access to 50,000 ATMs and support for digital wallets like Apple Pay, Google Pay and Samsung Pay. Fiat Ventures General Partner Alex Harris, who was head of growth at digital bank Chime in its early days, is joining Copper’s board as part of the financing.