13books Capital Launches a €144 Million Fund to Propel Fintech Innovations

In a bold move amidst a challenging investment landscape, London-based 13books Capital has successfully closed a new €144 million fund aimed at fostering innovation in the financial technology sector. This initiative marks a significant commitment by the firm to support pioneering entrepreneurs poised to transform the future of financial services.

Over the past few years, the initial skepticism among traditional financial services about the viability of fintech startups has shifted significantly. These emerging companies now capture 2% of the global financial services market, a staggering $12.5 trillion industry, signaling a growing recognition of their potential to disrupt conventional financial paradigms.

The newly established €144 million fund is set to empower 13books Capital to continue its support for the most ambitious founders who are crafting the financial technologies of tomorrow. The fund will primarily focus on investments during the Seed to Series A stages, offering financial injections ranging from £1 million to £7 million.

Michael McFadgen, a partner at 13books Capital, shared his insights on the strategic vision behind the fund. "It is clear that European fintech entrepreneurs desire a sector-focused, founder-focused venture platform that has meaningfully impactful networks across the industry," he stated. "We believe European fintech is entering a golden period, and we thank our LPs and founders for their trust and look forward to supporting the next generation of pioneering fintech entrepreneurs."

To date, the firm has a commendable track record with investments in 19 fintech companies, including notable successes like Roadzen (NASDAQ: RDZNW), Hepster, Coincover, Runa, Billhop, Thirdfort, Duco, nCino (NASDAQ: NCNO), Fenergo, and ErisX. Founders who partner with 13books Capital gain access to an extensive network of 34 world-class founders and industry leaders. This network offers unmatched entrepreneurial experience, connectivity, and expertise, proving invaluable for startups navigating the complexities of the fintech landscape.

The firm also welcomed two new institutional Limited Partners (LPs), British Patient Capital and KfW Germany, enhancing the diversity and strength of its Limited Partner Advisory Committee (LPAC). These new additions join existing members Isomer Capital and IPGL, bringing fresh perspectives and resources to the table.

13books Capital has already begun deploying its new fund, making significant investments in five promising portfolio companies over the last six months. These investments include Series A rounds in Aria, an API-enabled embedded invoicing platform, and Ramify, a digital wealth management platform. Both companies are poised to lead the charge in transforming Europe’s digital financial services sector.

In recognition of their outstanding contributions and performance, 13books Capital is also pleased to announce the promotions of Meera Bissoondeeal, Nitya Gupta, and Aleksandra Tyurina to Principal positions within the firm. Their expertise and effective management strategies have been instrumental in driving the firm’s success in a highly competitive market.