Venture Capital: Flourish Ventures Raises $350M To Build Financial Inclusion Across The Globe

October 26, 2023 | FinTech, News, Venture Capital
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Flourish now has $850 million under management.

Flourish Ventures, a venture firm specializing in fintech investments, has secured $350 million in funding, marking a significant milestone for its early-stage global venture fund. This new investment adds to the initial $200 million in portfolio investments and $300 million in capital obtained during the spinout from Omidyar Network in 2019. With a total of $850 million under management, Flourish is on a path to establish a permanent capital base, all while intensifying its commitment to fintech investments across the U.S., Africa, Asia, and Latin America. The primary goal is to foster a more equitable financial system.

Since its inception, Flourish has championed the idea of creating a faster, more inclusive financial system that benefits individuals and businesses. The firm’s investments have centered on themes like digital banking, embedded finance, infrastructure, insurtech, and regtech, all of which have brought substantial progress to underserved populations worldwide.

With 71 global fintech investments and 18 ecosystem partners, Flourish boasts 7 unicorns and several successful exits. This fresh capital empowers them to continue supporting fintech startups and collaborating with key stakeholders to drive systemic change in the financial industry.

Flourish’s investments in companies like Chime, Clerkie, and Unit have reshaped the sector. Chime, for example, disrupted traditional banks by eliminating overdraft fees and offering customer-centric services. Similarly, Clerkie’s automated debt repayment tool has had a positive impact on both borrowers and lenders, while Unit simplifies financial product offerings for companies.

In emerging markets, Flourish portfolio companies like Indifi, ApnaKlub, ShopUp, Dinie, and MaxAB have improved access to credit and financial services for underserved populations, driving economic growth.

Flourish is determined to continue its mission by focusing on visionary entrepreneurs and ecosystem innovators who are reshaping the financial system. With this new capital infusion, they are well-positioned to foster a more equitable and efficient financial landscape.

Related Story:  UK Establishes New £1B Fund To Maintain Fintech Lead And Provide Growth Capital To UK Startups

Photo by Benjamin Dada on Unsplash

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