Vesey Ventures

Big shoutout to the rockstar team at PointFive for their $20M Series A raise, bringing their total to $36M in just 18 months! ???? Alon Arvatz, Gal Ben David ???????, Amir Hozez and the entire team are transforming cloud cost chaos into clarity with their game-changing DeepWaste? Detection Engine. In such a short time, they’ve already landed powerhouse enterprise customers, proving their approach isn’t just innovative—it’s essential for scaling in today’s (multi-)cloud world. ?? We at Vesey Ventures are thrilled to be part of the journey, alongside Salesforce Ventures, Index Ventures, Entrée Capital and Sheva, as PointFive continues to shake up the cloud universe. Onward and upward!? https://lnkd.in/d4JwFjau

We enjoyed an insightful morning at our NYC office this week, showcasing visionary women leaders shaping the future of fintech with Women in Payments. HSBC’s Sandra Lam moderated a discussion on driving innovation, leading change and building a thriving career with trailblazers Kelly Galanis from Goldman Sachs and Lindsay Fitzgerald from Vesey Ventures. Thank you to our clients, partners and colleagues who joined us for the event!

Our portfolio company Nilus is one of the most promising fintech startups, according to Business Insider (and we agree!). "We think Nilus is poised to become the default software for modern treasury teams" says Lindsay Fitzgerald. Read more below! ??

Honored to be part of this great panel and excited to see the next gen of procure tech solutions leading the way! #2024ProcureTech100

The Vesey Ventures NYC team is at Finovate this week. Reach out if you're in town!

We're co-hosting a financial inclusion pitch competition with Commerce Ventures this Fall, and the deadline is this weekend! As in years past, the program is accepting applications for early-stage companies focused on financial access and inclusion. Apply at the link below by September 14 for a chance at a $100,000 uncapped SAFE note! https://lnkd.in/e8jvniyc

We are thrilled to announce our investment in the exceptional PointFive team! ? Cloud cost optimization is on everyone’s agenda. At Vesey Ventures, looking at this space through the lens of the financial services industry, we've seen firsthand the challenges financial institutions face as they embark on their long and complex cloud journeys. Initially, the focus was on crafting a cloud strategy to drive digital transformation, foster innovation, and enhance agility. As companies progressed in this journey, the emphasis shifted towards driving down costs. We've observed the rise of FinOps teams within their technology organizations and a strong movement towards unifying the engineering experience. Working with incumbents and highly regulated institutions requires being enterprise-grade and scalable, with a deep understanding of enterprise intricacies from day one. This also means prioritizing security and compliance from the get-go, addressing complex issues for organizations with thousands of engineers, and offering the appropriate level of customization and control. PointFive does exactly that. There is no better team to tackle the hardest problems first, with an innovative and differentiated approach. Pointfive’s cloud cost optimization platform for enterprises with its DeepWaste? detection technology uncovers hidden inefficiencies and identifies infrastructure-level savings opportunities. The platform contextualizes insights, provides actionable pathways for remediation within existing workflows, and promotes collaboration between FinOps and engineering. And they are just getting started! ?? Excited to back Alon Arvatz, Gal Ben David ???????, Amir Hozez and the entire PointFive team and join forces with Index Ventures, Entrée Capital, and Sheva Capital in PointFive’s $16M Seed round.? Read more below! https://lnkd.in/dyASBC3q

We're thrilled to back Finaloop! We're joining co-investors Lightspeed, Commerce Ventures, Accel and Aleph in Finaloop's $35M Series A financing. Read more below! Lindsay Fitzgerald Sarah Kreifus

We had a fantastic morning at Vesey Ventures' "Power Connections: Managing Risk in Volatile Times", as part of #NYFinTechWeek. Our dynamic panel and engaging roundtable sessions brought together innovative founders and top executives in risk management, credit, fraud prevention, compliance, and data from Mastercard, PayPal, Alloy, BNY Mellon, SVB, Valley Bank, TransUnion, Plaid, Coast, and more. ? Our favorite founder feedback: “The Vesey event truly stood out, leaving all others in the dust!... The panel discussion was insightful, featuring some of the industry's most knowledgeable speakers, and the roundtables were incredibly focused and engaging.” ? A few key takeaways: ?????♂? 1. Data: While financial institutions are constantly exploring new data sources, significant challenges remain in breaking down existing data silos. The data you are looking for might already exist helping solve another use case for a different business function, emphasizing the need to have all the data in one place and leveraging it across the entire customer lifecycle. 2. GenAI: -Lots of startups in the audience leveraging GenAI, but adoption for incumbents is in very nascent stages, mostly used for generating training data to improve fraud detection when it comes to risk use cases. No surprise, the key to broader adoption lies in establishing robust guardrails. -A big tailwind for fraudsters…we will see lots more fraud losses and existing tools coming offline. Companies will need a dynamic and ever-changing set of tools. 3. Collaboration: Promoting better collaboration and data sharing between financial institutions, fintechs, and regulatory bodies is vital for effective AML and CTF. Imagine a world in which the industry has access to SAR filing dataset! 4. Regulation: Keep an eye on the CFPB's proposal to implement Section 1033, which could reshape data accessibility. 5. Startup-Incumbent partnership tips:?Don't try to solve everything. Identify specific gaps, be very clear on your use cases and what your product does and doesn’t do.. And oh yes, lots of patience! ? A huge thank you to our partners at Mastercard and SVB, and to all the speakers, moderators, and founders who contributed to the success of this event. Stay tuned for our next Power Connections event! Jill Zucker Sheckman Tommy Nicholas Marcus Ford-Bey Aengus Hallinan Sanjay Sidhwani Melanie G. Nicolas Buc Joseph Franzone Justin Murry Alex Widen Anurag Puranik Howard Morgan Viral Shah Susan Sobbott Jeff Allen Alexander A. Jason Ioannides David Galvan Ryan Stern Brian Foley Ita Ekpoudom?Bruno de Roquefeuil Alexander A. Ilana Fass Julia Huang Lindsay Fitzgerald Vincenzo Salina Amorini, CPA Sarah Kreifus

Congrats to Daniel Simon and the whole Coast team. We're thrilled to add "fuel" to this fleet card fire! ?? ?? ?? Many SMB industries are left behind by the spend management tools popularized in tech rags. Fuel cards are a critical part of how field services businesses operate. They're specialized businesses that require specialized solutions. Enter Coast. We're excited that this fundraise will help get Coast in the hands of more fleet managers so they can focus on their business, and not their back office.