Veteran fintech-focused investment house TTV Capital has struck a $127m final close for its fifth fundraise.
TTV has already tapped Fund V for a string of investments, including Koho, Neuro-ID, Plink, Samcart and Taxbit.
It says it looks to back founders that are creating innovative applications which build upon enabling technologies like cloud computing, big data, mobile, machine learning, AI, and blockchain, to disrupt and modernise the banking and payments sector.
Firm founder and managing partner Gardiner Garrard said, “We founded TTV in 2000 because we believe that there is a compelling need for innovation and technology advancement throughout the financial industry.
“We will invest $1m to $5m in support of early-stage fintech companies led by dedicated founders with a strong, clear mission.”
The firm’s track record includes Green Dot, Cardlytics, Bill.com, Greenlight, MX, Smartasset, Shopkeep, Paycycle, Scratchpay, and Featurespace.
Firm partner Sean Banks said, “Fintech is evolving at an ever-increasing rate. Our experience and deep industry relationships position us to partner with entrepreneurs to optimize growth opportunities in the coming years.”
TTV raised $93m for its predecessor fund in 2017, and $40m for TTV Capital Fund III in 2013.
Apple Lane Group and Frontier Solutions acted as placement agents for the Fund V raise.
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