In particular, 500 FinTech will focus on investments in companies that develops “Financial Services For the Rest of Us“.
Over the last 6 years, the firm has invested in nearly 80 fintech startups in 10 countries, including CreditKarma, Flywire, FeeFighters (acquired by Groupon), Simple (acquired by BBVA), iMoney, and RealtyShares.
With the new fund, which comes to life with a new accelerator program and a corporate partner program, 500 Startups aims to close some gaps still existing in the markets investing in services for millennials, minorities, women, and emerging markets delivered via mobile.
The FinTech fund will invest in approx. 100 Lending, Investment Advisory, Personal Finance Management, Blockchain, Money Movement, and Insurance early stage companies globally.