Better Tomorrow Ventures, a Fintech focused venture fund, has raised $75.3 million according to a Form D filed with the Securities and Exchange Commission (SEC). According to the document, 99 individual investors backed the fund.
The two General Partners of the fund include Jacob Gibson and Sheel Mohnot.
Gibson, an MIT grad, is a co-founder of NerdWallet. Mohnot, an active angel investor, is founder and former GP of Fintech 500. Mohnot also worked for the Catalyst Fund for several years.
In an interview with Techcrunch, Gibson explained their vision of which Fintech startups they will be targeting:
“Our thesis is that everything is Fintech, so we invest across the board: payments, lending, banking, real estate, insurance, b2b, consumer — anything that’s ostensibly Fintech. We think a lot of companies that aren’t typically Fintech today will look like Fintech later, with more and more tech platforms that get into financial services. We’re investing at the pre-seed and seed stage but also meeting with founders at the idea stage, sometimes to talk them out of starting another neobank.”
The belief that Fintech is everywhere is based off the reality that financial services should be anywhere that you need them, not a special trip to a website.
Reports indicate that the fund performed well, topping its goal of $60 million during the time of COVD.