BankTech Ventures Invests $13.5M in New Fintechs

BankTech supports community banking growth and transformation through its backing of six new fintech investments in the second half of 2023

SANDY, Utah--(BUSINESS WIRE)--BankTech Ventures, a strategic investment fund focused on enhancing community banks, announced today its continued commitment to community banks’ more vibrant futures with a total investment of $13.5 million in six fintech companies in the second half of 2023. BankTech has invested over $40 million in companies that have been specifically selected due to their work with community banks. These new investments are focused on helping community banks in areas of revenue, deposit growth, security, compliance, data analysis and customer marketing.

BankTech’s recent investments include:

• $2.5M in Vero Technologies' Series A Round: BankTech led Vero Technologies' Series A funding round, which raised $8.5 million in total. Vero Technologies powers wholesale finance for banks to offer to inventory-based businesses.
• $2M in Finosec's SAFE Round: BankTech was the sole investor for the $2 million SAFE (Simple Agreement for Future Equity) round for Finosec which improves financial institutions’ information technology governance, audit and exam readiness.
• $2M in Micronotes' Series C Round: BankTech joined Micronotes' Series C funding round, which raised $7.5 million. Micronotes turns digital channels into personalized revenue generators using big data, AI, and automation.
• $1M in Equabli's SAFE Round: BankTech invested in Equabli's SAFE round, which raised a total of $3.35 million. Equabli is a B2B platform for financial firms’ credit management, collections and recovery.
• $1M in Revio's Series A Round: BankTech also co-led Revio's Series A funding round, contributing $1 million to a total of $2.5 million raised. Revio provides unique insights and analysis into a bank’s current bank transactions and uncovers deposit and revenue opportunities in an immediately actionable way.
• $5M in BillGo's Series B Round: BankTech participated in BillGo's Series B extension funding round, which successfully raised $37 million. Billgo enables modern, real-time customer bill pay.

“Our mission at BankTech is to better connect fintechs and the community banking industry and we’ve built a team and ecosystem to facilitate this,” said Carey Ransom, Managing Director at BankTech Ventures. “Our banks can attest to the transformation opportunities and business growth we’ve all seen by hand-selecting some of the most impactful companies to work with community banks. 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.”

With more than 100 banks in the BankTech Ventures Fund, 1000+ companies in the pipeline, and 17 investments, BankTech is on a mission to transform community banking in more ways than one. Formed collaboratively by seasoned bankers and fintech entrepreneurs, BankTech’s core purpose is around identifying, validating, and investing in groundbreaking solutions tailored to the unique demands of community banks.

For more information on BankTech, visit banktechventures.com.

About BankTech Ventures

BankTech Ventures identifies and invests in leading bank technology companies and is deeply entrenched in community banking to ensure its companies work effectively and efficiently with banks to deliver maximum value and impact. BankTech’s unparalleled ecosystem is designed to deliver compelling innovation with community banks at the center of it all - bringing together bankers, industry organizations, and tech founders to work collaboratively to accelerate innovation in banking. Follow BankTech on LinkedIn and X. For more information, visit https://www.banktechventures.com/