Better Tomorrow Ventures (BTV) venture fund has raised 140 million dollars for its third fund, TechCrunch reported. These funds will mainly be directed at early-stage projects in the fintech sector.
According to fund co-founder Sheel Mohnot, the financial sector is still not fully digital and this creates major opportunities. “20 percent of global GDP consists of financial services, and many operations are still performed manually,” he said.
BTV has previously supported companies such as Chime, Klarna and Wealthfront. The current fund is paying special attention to the accounting sector. In particular, artificial intelligence technologies are expected to play a significant role in this area.
BTV has so far invested in three accounting startups: Basis, Layer and InScope. The fund’s portfolio also includes projects such as Coast (a transportation payment platform), Relay (a cash management service), and Unit (a banking services platform).
Through its third fund, BTV plans to invest from $500,000 to $3.5 million in 30–35 companies.
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