In the midst of a challenging fundraising landscape, London-based 13books Capital has successfully closed a €144 million fund dedicated to driving the next wave of financial technology (fintech) disruptors. This new fund underscores 13books Capital’s ongoing commitment to supporting visionary founders who are redefining the future of financial services.
Over the years, initial skepticism from financial services companies has transformed into an acknowledgment of the vast potential for emerging fintech firms. Currently, these firms account for 2% of the $12.5 trillion global financial services revenue, showcasing their growing influence and importance.
The freshly secured €144 million fund will empower 13books Capital to continue backing the brightest and boldest founders in the fintech space. The fund is specifically designed for investments at the Seed to Series A stages, with investment sizes ranging from £1-7 million.
Michael McFadgen, Partner at 13books Capital, emphasized the unique value proposition of their venture platform, stating, “European fintech entrepreneurs are looking for a sector-focused, founder-centric venture platform with significant industry connections. We believe European fintech is entering a golden era, and we are grateful to our LPs and founders for their trust. We look forward to supporting the next generation of pioneering fintech entrepreneurs.”
13books Capital has already built a solid reputation with investments in 19 fintech companies. Their portfolio includes notable successes such as Roadzen, Hepster, Coincover, Runa, Billhop, Thirdfort, Duco, nCino, Fenergo, and ErisX. Founders in their portfolio benefit immensely from the firm’s extensive network of 34 top-tier founders and industry leaders, including Limited Partners (LPs) who bring invaluable entrepreneurial experience, connectivity, and expertise.
Joining the fund’s Limited Partner Advisory Committee (LPAC) are two new institutional LPs: British Patient Capital and KfW Germany. They join existing partners Isomer Capital and IPGL, further strengthening the fund’s support network.
The fund has already hit the ground running, with investments in five promising portfolio companies over the past six months. Noteworthy investments include Series A funding for Aria, an API-enabled embedded invoicing platform, and Ramify, a digital wealth management platform. Both companies are well-positioned to become leaders in Europe’s digital financial services landscape.
In a move to recognize and reward talent within the firm, 13books Capital has promoted Meera Bissoondeeal, Nitya Gupta, and Aleksandra Tyurina to Principals, acknowledging their excellent contributions and performance.
With this new fund, 13books Capital is set to continue its mission of fostering innovation in the fintech sector. By supporting startups at crucial early stages, they are not just investing in companies but also in the future of financial technology. The firm’s strategic focus on nurturing groundbreaking ideas and providing robust industry connections positions it as a key player in the fintech ecosystem.
13books Capital’s new €144 million fund is a significant milestone in their journey to support and shape the future of financial technology. With a clear focus on seed to Series A investments, a strong network of industry leaders, and a proven track record, 13books Capital is well-equipped to drive the next generation of fintech innovation.
