Amid a challenging fundraising environment, London-based 13books Capital announced the closing of a €144 million fund dedicated to fuelling the next wave of financial technology (fintech) disruptors. This fund continues 13books Capital’s commitment to backing visionary founders reshaping the future of financial services.
The initial scepticism amongst financial services companies has been replaced in recent years by recognition of the huge potential for emerging fintech firms, which currently account for 2% of the $12.5 trillion global financial services revenue. The new €144 million fund will enable 13books Capital to continue supporting the best and boldest founders who are building tomorrow’s financial technology. Investments will be primarily made at Seed to Series A stages, with ticket sizes ranging from £1-7 million.
Michael McFadgen, Partner at 13books Capital, said: “It is clear that European fintech entrepreneurs desire a sector-focused, founder-focused venture platform that has meaningfully impactful networks across the industry. We believe European fintech is entering a golden period, and we thank our LPs and founders for their trust and look forward to supporting the next generation of pioneering fintech entrepreneurs.”
To date, the team has invested in 19 fintech companies and has a proven track record of successful investments, including Roadzen, Hepster, Coincover, Runa, Billhop, Thirdfort, Duco, nCino, Fenergo and ErisX. Founders benefit from the firm’s network of 34 world-class founders and industry leaders, such as Limited Partners (LPs), who provide unparalleled entrepreneurial experience, connectivity, and expertise.
The firm welcomed two new institutional LPs, British Patient Capital and KfW Germany, who joined Isomer Capital and IPGL on the Fund’s Limited Partner Advisory Committee (LPAC). The fund has already made a strong start, with investments in five promising portfolio companies in the last six months. These include Series A investments in Aria, an API-enabled embedded invoicing platform, and Ramify, a digital wealth management platform, both of whom have the potential to become category leaders in Europe’s digital financial services future. The company also announced the promotion to Principal of Meera Bissoondeeal, Nitya Gupta and Aleksandra Tyurina in recognition of their excellent contribution and performance.
