A group of three former Amex Ventures managing directors has secured $78 million for their debut fund backing early-stage fintech startups.
Vesey Venture, founded by Dana Eli-Lorch, Lindsay Fitzgerald and Julia Huang, will invest in early-stage fintech and enabling technology companies, focusing on firms that can form early partnerships with financial incumbents.
With nearly a decade of experience investing together, Eli-Lorch, Fitzgerald and Huang have backed the likes of Melio, Plaid, Stripe, and Trulioo and established more than 100 partnerships between startups and financial services institutions.
Vesey Ventures says it will combine the best of their backgrounds - deep domain expertise in traditional financial services and a unique understanding of the startup ecosystem - to identify, fund and scale the next generation of great companies.
Based in the US and Israel, Vesey has already made several investments, including in Coast, Cyrus, Grain, Equi and Proper.
Say the three: "Financial incumbents still own the crucial pieces startups need to succeed - infrastructure, capital, licenses and customers - and we’ve seen firsthand how the most successful fintech companies were built in partnership with incumbents.
"We created Vesey Ventures to give our portfolio companies a competitive edge early on by bridging the gap between the companies in need of new technologies and those building them. Partnerships can be a game-changing part of a fintech company’s growth story and we have an unparalleled track record of delivering these for our founders."
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