Welcome to the September installment of Fin Capital's newsletter. It’s been a busy month for the team and our portfolio companies! It was great connecting with many of you at our Fin Capital & Friends Happy Hour in NY, at the JAM Fintop Summit, and at Finovate Fall.

What’s next for the Fin team? We’ll be at ITC Vegas, RAISE Global Summit, and Money20/20 in October –– we'd love to connect with you at any of these events!

Congratulations, NeuroID

Portfolio company, NeuroID, announced they have been acquired by Experian. We extend a heartfelt congratulations to NeuroID Founder, Jack Alton, and the entire NeuroID team on this milestone!

Founded in 2014, NeuroID has become a leader in behavioral analytics, providing a privacy-centered first line of fraud defense for digital businesses. NeuroID’s modern and frictionless capabilities amplify Experian’s fraud risk suite by providing a new layer of insight into digital behavioral signals and analytics observed for both new and returning users throughout the customer lifecycle, including account openings, logins and transactions.  Read the full announcement from Experian here.

Investor All Stars: Where’s the Smart Money Investing in Fintech?

Fin Capital Managing Director, Stephanie Perez, joined Luis Valdich, Rachel Zabronsky, and Boyang Li for a panel discussion at Finovate Fall exploring the latest trends in Fintech M&A, IPOs, and Banking-as-a-Service (BaaS). Together, they discussed:

1. Fintech funding: where are the trends lines?

2. What can we expect on the M&A front going into 2025?

3. Consolidation & concentration: are we entering a new phase of fintech?

4. Where will we continue to see strong investment and which areas are most vulnerable?

5. Where have bubbles burst and why?

Funding the Future: A Discussion with General Partner, Ren Riley

How is the current IPO market impacting employees and founders within the venture ecosystem? What's next for the 1,500+ private unicorns? Fin Capital’s General Partner, Ren Riley, sat down with Brett Stapper on Funding the Future. You can listen to their full conversation here.

Portfolio Deep Dive: Vestwell's Journey to Fintech Unicorn

In the latest episode of the Growth Leaders of Wealth Management podcast by Ficomm Partners, Fin Capital Managing Partner and Vestwell Board Director, Logan Allin, explains how Vestwell’s Founder and CEO Aaron Schumm and his team are redefining wealth management. Stream the full interview here.

Portfolio Spotlight

It’s been a busy month, sharing some of the latest moments from across portfolio…

• Congratulations to Fin portfolio companies on recent awards and recognitions!  

  • Boost Insurance, Maxwell, Thoropass, Trovata and Vestwell made the 2024 Inc. 5000 List. 

  • Jason Lee (Founder & CEO of Salt Labs, acquired by Chime) and Brian Strom (Co-Founder & CTO of Elevate) are 2 of the 25 winners on EBN’s 2024 Excellence in Benefits awards. 

  • Entrio, Moneykit and Parcha are a part of FIS’s 2024 cohort for the Fintech Accelerator Program, now in its 9^th year.  

• Banyan has partnered with Bilt Rewards to provide item-level data capabilities, unlocking the ability for Bilt to provide even more relevant, tailored and unique rewards and benefits experiences for its members. The Bilt / Banyan partnership is starting with Walgreens, where Bilt members who shop at Walgreens with any debit or credit card will receive an alert notifying them that they have purchased items that are FSA/HSA eligible, simplifying the process for reimbursement.  

• DailyPay announced its international expansion, with their launch of EWA offering in the United Kingdom, marking the company's first foray outside the U.S. DailyPay also announced the launch of a new savings feature for the DailyPay Visa Prepaid Card to promote financial wellness and security.  

• Rippling partnered with Elevate, moving their backend infrastructure for account solutions to Elevate. Read this case study on the partnership, which helps illustrate the powerful potential that advanced technology can have on consumer benefit accounts. 

• Fairplay announced a new partnership with LendingPoint to enhance its algorithmic qualification and automated funding decisions. 

• Liminal released several powerful new features, available through the Liminal Platform, which will allow teams to harness the full potential of generative AI, while ensuring sensitive data remains safeguarded. 

• Thoropass unveiled AI-driven products to revolutionize infosec compliance and audit, all designed to support organizations in achieving true continuous compliance in an ever-evolving landscape of cybersecurity and data privacy.  

• Vestwell announces strategic partnership with TIAA to expand access to guaranteed retirement income.

• VRGL has completed a strategic funding round, led by FINTOP Capital and MissionOG, with significant support from Fin Capital and other key insiders. With this financing, VRGL will continue to execute on its industry-leading Client Acquisition and Investment Proposal Management solution, expand product offerings, and support market growth.  

What We’re Reading

INDUSTRY RESEARCH 

• Bessemer Venture Partners: Fintech entrepreneurs’ guide to creating enterprise value starts with contribution profit (Read More).  

BLOGS, PODCASTS AND VIDEOS 

• 99% Tech: The Rise Of Fintech Families (Read More).  

• Andreessen Horowitz: In the Vault: Assessing AI Impact vs. Hype with John Stecher of Blackstone (Listen Here).  

• Fintech Fundamentals: The Future of Finance Tech: How technology is transforming the office of the CFO (Read More).  

• GTMonday by GTM Partners: New Framework: How to Implement ICP Scoring (Read More).  

• OnlyCFO’s Newsletter: Sales Tax for SaaS Companies (Read More).  

• Rohit’s Newsletter: Where does value accrue in public fintech companies? (Read More) 

• Tanay’s Newsletter: Overbuilding in AI: A Modern Twist on an Old Tale (Read More) 

• VerticalSoftware.fyi: Community-driven resource to document the growing list of vertical software companies (Access List Here).  

Thanks for reading!

We are grateful for your partnership and support, and welcome any feedback you have. We’ll see you next month with more!

-The Fin Capital team

_Disclaimer

_{This material is provided for informational purposes, and it is not, and may not be relied on in any manner as, legal, tax or investment advice or as an offer to sell or a solicitation of an offer to buy an interest in any fund or investment vehicle managed by Fin Venture Capital Management LLC (“Fin”) or its affiliates. Content obtained from third-party sources, although believed to be reliable, has not been independently verified as to its accuracy or completeness and cannot be guaranteed. Fin has no obligation to update, modify or amend the content of this post nor notify its readers in the event that any information, opinion, projection, forecast or estimate included, changes or subsequently becomes inaccurate.}