Best tomorrow, Ventures closes $ 140 million, and remains up to Fintech

Shil Mawhnot, co -founder and general partner of Better Tomorow Ventures (BTV) has a single simple answer for anyone who claims to invest in Fintech has lost some of its attractiveness.

“The world of financing is huge. About 20 % of Global GDP is financial services, and it is still not digital enough,” Techcrunch told Techcrunch.

Several financial transactions are still handled manually, Better Tomorow Ventures-led by Mohnot (a former general partner in 500 startups) and co-founder of the participant Nerdwallet Jake Gibson-to help change this.

“The huge chance of digitization is still in front of us,” Mohnut told Techcrunch. The company’s limited partners seem to agree.

Ventures Tomorow Better collected a third fund worth $ 140 million, as it was almost identical to 150 million dollars The second box, which was announced in early 2022 near the end of the Zirp boom (interest rate policy).

“We have already planned to make the box smaller this time,” said Mohnot. “In 2021, things went abroad. Every company we invested immediately raised a follow -up tour at a crazy price, and that was bad,” said Muhannut.

He explained that BTV does not need BTV that Fintech’s enthusiasm is Tamer, because BTV does not need much capital to continue to participate in the best startups.

The company did not benefit from the $ 75 million opportunities fund, which was collected alongside its second fund in 2022. But the capital may be useful at some point soon. Since many of the recent and planned subscriptions are planned in the Fintech space, including Chime, Klarna, Navan and WealthFRONT, there is hope that investors in the late stage will become more enthusiastic about this category.

In the early stages, Fintech Investing was definitely chosen during the past year. For example, BTV sees great opportunities to disable accounting.

“There is a tremendous shortage of accountants. All accounting companies are all away from business, which is an ideal application for Amnesty International,”

The company has already supported three startups for accounting: the basis, which recently sparked a Series of $ 34 million a Under the leadership of Khosla layerAn accounting platform for small and medium -sized companies; and INSCOPEStartup that helps to automate the audited financial statements.

But it is not just an account: Mohnot is a strong believer in wide AI applications within Fintech. “Financial services are very intense. There is subscription, compliance, discovery of fraud and customer support,” he said. “Amnesty International can do all of this at a lower cost.”

Other prominent companies include BTV wallet coastPayment platform for fleet drivers and trucks; The unit, which is a startup from banking services to services worth $ 1.2 billion; DeportationOnline banking and cash management platform for small companies; and lonlinessThe last value of the start of running banking services of $ 1.2 billion.

For its third fund, the company plans to invest in 30 to 35 companies, with check sizes ranging from $ 500,000 to $ 3.5 million.