Fintech VC Flourish Ventures banks US$350M to double down on emerging markets | e27

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The Flourish Ventures staff

Flourish Ventures, an early-stage fintech investor for the US and rising markets, has secured US$350 million from Pierre Omidyar, bringing its whole funding to US$850 million beneath administration.

Additionally Learn: Regardless of decline, world fintech funding stays pretty steady: McKinsey report

This funding comes on prime of the preliminary US$200 million in portfolio investments and US$300 million in capital it secured on the time of its spinout from Omidyar in 2019.

The VC agency goals to construct in direction of a everlasting capital base whereas doubling down on the US, African, Asian and Latin American markets. Key funding themes are digital banking (neobanks), embedded finance, infrastructure, insurtech, and regtech. Its lively funding areas embody next-generation B2B funds, verticalised embedded finance platforms, the transformation of core legacy infrastructure, and knowledge analytics throughout banking, insurance coverage, funds, lending and identification.

Additionally Learn: Digital funds: Adapting to a altering world

Flourish Ventures has seven unicorns and lots of exits throughout our 71 world fintech investments and 18 ecosystem companions. Southeast Asia’s portfolio corporations embody Brick, Mapan, Qoala, and Ruma (all Indonesia) and Zaapi (Singapore). In 2021, it exited Seize Monetary by way of an SPAC merger.

In India, Flourish Ventures has invested in Affordplan, ApnaKlub, Aquaconnect, CredFlow, Gramcover, Indifi, Kaleidofin, M2P Fintech, MyShubhLife, NeoGrowth Credit score, QueueBuster, Scripbox, and ZestMoney (all India). ShopUp (Bangladesh) can also be its investee.

Additionally Learn: In Indonesia, the issue is lack of insurance coverage accessibility, not affordability: Qoala CEO

“The work of our portfolio corporations has helped enhance the monetary well-being of greater than 250 million individuals and companies worldwide. Nevertheless, we realise there may be nonetheless a lot extra to be achieved – particularly in mild of the lingering results of the COVID pandemic, world conflicts, and local weather shocks which are inflicting alarming will increase in family vulnerability,” Flourish Ventures stated in an announcement. “Digital monetary providers are lifelines for individuals and companies dealing with emergencies like a well being disaster or a pure catastrophe, as they facilitate entry to social security web packages, funds, credit score, and even healthcare.”

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