Bank-backed fund invests in six fintechs

BankTech Ventures, an investment fund backed by several community banks, disclosed that it has invested $13.5 million in six fintechs over the second half of 2023.

• $5 million in BillGo, which enables real-time customer bill pay

• $2.5 million in Vero Technologies, which helps bank offer wholesale finance to inventory-based businesses

• $2 million in Finosec, which improves financial institutions’ IT governance, audit and exam readiness

• $2 million in Micronotes, which uses big data, AI and automation to turn digital channels into personalized revenue

• $1 million in Equabli, a B2B platform for credit management, collections and recovery

• $1 million in Revio, which provides analysis of bank transactions and looks for ways to improve financial institutions’ deposits and revenue

“We are passionate about finding the best companies to support the future of community banking so they can thrive and continue to enable and support their customers and communities,” Carey Ransom, BankTech Ventures’ managing director, said in the release.

The fund’s general partners include Sunwest, Coastal Financial, Hovde Group, The Venture Center and the Independent Community Bankers of America.