Specialist FinTech investor CommerzVentures hits final close on third fund

Specialist FinTech investor CommerzVentures has closed its third fund on €300m, which will back early and growth-stage companies in the sector.

Its focus will be on FinTech and InsurTech sectors, as well as the emerging climate FinTech space. The fund will invest globally, with a particular interest in Europe, Israel and the US.

This deal saw Commerzbank return as the sole LP, bringing the firm’s total fund size to €550m.

Alongside the launch of Fund III, the venture firm has grown its headcount by 50% , which it hopes will bolster its position in new geographies, notably Afirca, it said.

CommerzVentures partner Heiko Schwender said, “Over the past eight years, our team has leveraged our extensive experience to back founders reimagining the financial services industry across Europe, the US, Israel, and Africa.

“We are proud and grateful to our portfolio of companies we have worked alongside, now including almost a dozen current and future unicorns. With our third, €300m fund, we are thrilled to continue establishing CommerzVentures as one of most successful early stage FinTech VCs with roots in Europe.”

CommerzVentures’s previous vehicles were a €100m vehicle in 2014 and a €150m fund in 2019. The firm has invested into a total of 28 companies, to date.

The firm has seen 30% of its early portfolio companies grow into unicorns, including Bought By Many and Mambu. Two of its investments have even evolved into decacorns, eToro and Margeta.

Other companies in its portfolio include anti-fraud company Fraugster, business loan provider iwoca and auto insurer By Miles.

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