Infinity Ventures, the early-stage fintech and commerce venture firm founded by PayPal veterans, has raised a $184 million Fund II.
Infinity was co-founded in 2021 by former PayPal executives Jeremy Jonker, Jay Ganatra and Mario Ruiz, who led investments in Plaid, Paxos, PPRO, Acorns and Tink, and led the acquisitions of Venmo, Braintree, Honey, Hyperwallet, Xoom, Swift Financial and iZettle.
Infinity invests in pre-seed through Series A rounds and to date has backed 23 companies across fintech and commerce enablement. Its portfolio includes PayFac-as-a-service platform Rainforest, corporate card and expense management outfit Mendel, and payments data provider Pagos.
With Fund II, the firm says it will scale its ‘operators-first, investors-second’ approach to supporting founders building across B2B fintech and commerce enablement.
Says Ruiz: "As ex-operators ourselves, we can’t help but serve as an extension of our portfolio companies’ teams.
"The Infinity Ventures team routinely jumps in to assist with execution work, facilitate negotiations with customers and provide crucial C-level introductions. Our deep domain expertise and industry connectivity separates us from the pack of generalist and other sector-focused funds."