FinTech news in venture funding category
"Our mission is to build the best infrastructure for exchanges," Jog said, adding that the blockchain also has projects building games, NFT marketplaces and rollups. "It’s not just DeFi, but other applications that derive demand from trading."
The Singapore-based VC focuses on early-stage financial tech startups, but it operates with a pretty expansive view of what constitutes fintech; its portfolio includes startups working on AI, healthcare, crypto and (of course) several buy now, pay later schemes. Arbor Ventures, funder of fintech and shopping startups like installment loan company Tabby and Amazon brand factory Heyday, has locked down $193 million toward its largest fund to date, journalist has learned. Other fintech investors to make headlines lately include New York Kli Capital, which is raising a $50 million third fund, and Jakarta, Indonesia-based AC Ventures, which is targeting $250 million for its fifth fund. Arbor did not respond to requests for comment on its plans for the money, but its deals over the past year seem as varied as ever; they span wholesale shopping site Ralali, AI insurance data firm Planck and HR startup HiBob.
Prior to helping co-found Geopagos, Núñez Castro spent over 14 years as VP and general manager of Amex´s GNS, LatAm division, where he managed the card business operation in Latin America, including penetration into new markets.
Companies within the 776 portfolio include Alt, an alternative asset trading platform; Pipe, a global trading platform that makes recurring revenue streams tradable for their annual value; Axie Infinity, a web3 play-to-earn online gaming universe that witnessed over 200x growth in the last year; and Metafy, a video game education platform providing one-on-one access to champion-level gaming coaches. When launching 776’s first fund, the firm said explicitly that it sought a diverse investor base, of which 50% identified as female and 15% as Black or Indigenous people. Seven Seven Six, better known as 776, announced today that it has closed on $500 million across two vehicles for its second fund. The most recent survey revealed that 51% of 776’s LPs identify as female, 13% as Black or Indigenous people and 10% as Latino/a/e.