2023 Q1 Updates
HIGHLIGHTS
During Q1, we welcomed Infinant, LeanLaw, & InterPayments to the FINTOP Capital portfolio. ?
From North Carolina, Infinant | Grow Your Bank is taking a bank-first approach to embedded finance. Under the leadership of seasoned entrepreneur, Riaz Syed (formerly FIS & Zenmonics), the company will offer the toolset for community banks to build their own in-house #BaaS applications. This allows more quality control for #banks, aligning with the anticipated compliance and regulatory requirements for BaaS, which as a sector is projected to reach $6.9T by 2030 at a CAGR of 32.9%.
Partner John Philpott joins the Board & the JAM FINTOP network has invested alongside FINTOP in this opportunity.
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Based in Idaho, LeanLaw - Legal Billing Software enables the 450,000+ small and midsized law firms in the United States to streamline and expedite billing cycles. This backoffice product addresses the nearly 20% of #lawfirm bills that go unrealized or unbilled, plus significantly shortens the current industry average of 120 days from work completion to client payment.
Under the leadership of CEO Jonathon Fishman , the company has grown its existing customer base to firms collectively processing $600 MM annually. Partner Chris Haley joins the Board, with Richard Brereton III joining as a board observer.
InterPayments ' California-based team brings fee transparency to #payments on merchant platforms with a tech stack that enables easy, yet compliant implementation of surcharge programs. US merchants are increasingly adopting this practice to combat the rising costs of credit card #processingfees, which on average is their 3rd largest cost. However, 62% of merchants seeking to implement have been thwarted by the complexity of doing so. Under the leadership of CEO Nagendra Jayanty , Interpayments solves these complex pain points.
The JAM FINTOP network has joined this most recent round of the company's funding. Partner John Philpott joins the board.
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FOLLOW ON INVESTMENTS
During the first quarter of the year, FINTOP extended their commitment to the following portfolio companies to help unlock their next wave of growth:
UPCOMING EVENTS
Members of the FINTOP team will be on the road during Q2, if you are headed to any of these events, please be sure to connect:
FINTOP Capital is a venture firm focused on early-stage #fintech companies. With $700 MM+ in committed capital across five funds, the team has decades of industry experience as entrepreneurs, operators, & investors. Together, the FINTOP partners invest in the next generation of #fintech operators, those changing the way our financial institutions and their customers move, track & interact with money.