Propel Venture Partners, a seed-stage venture firm investing in firms participating in the future of finance, announced it has raised a $100 million Fund V, bringing total commitments to over $436 million.
Co-led by Jay Reinemann and David Mort, who together bring investing and operating experience from BBVA, Silicon Valley Bank, and Visa, Propel supports founders at the earliest stages.
With Fund V, the firm will further “scale its approach to investing in areas where technology and financial services converge, as well as in horizontal technologies that incumbents cannot ignore.”
Since its founding in 2016 and with the support of its long-term limited partner BBVA, Propel has backed 62 companies across modern banking and wealth platforms, crypto, brokerages, and enterprise SaaS serving large firms.
Currently, the firm invests in “pre-seed and seed rounds, writing primarily $1-4 million checks.”
With its large population and market dynamics, São Paulo, Brazil, is said to be a particular focus.
To date, Propel’s Fund V has made five investments across emerging sectors.
