By John Reynolds on Tuesday 22 March 2022
The fund, called embedded/capital, was founded this year by Ramin Niroumand and Michael Hock, who set up finleap, a Berlin-based fintech business that offers SaaS solutions to enterprises and builds stand-alone fintech companies.
A Berlin-based VC fund focused on the "next generation" of fintech founders has raised over €100m to invest in startups "embedding" financial services in their business models.
The VC fund, called embedded/capital, was founded this year by Ramin Niroumand and Michael Hock, who set up Finleap, a Berlin-based fintech business that offers SaaS solutions to enterprises and helps build fintech companies.
Embedded/capital's fund focuses on founders who are "embedding" financial services in their offerings, particularly at pre-seed and seed stages with initial investments of up to €4m.
The fund has raised money from institutional investors, entrepreneurs and founders.
Along with capital support, embedded/capital says it can help fintech founders by drawing on a "strong network" of European financial service providers.
Furthermore, it said it also works with key institutional players, unicorn founders, and global investors to support ventures.
Niroumand said: "We continue doing what we love most: Helping founders in the most critical stages to succeed.
"The Berlin fintech ecosystem has made incredible progress over the last few years, and it's exciting that the new generation of fintechs can build on the platforms created.
"For us, embedded/capital is the logical next step to coach this generation of founders."
Hock added: "We are proud to have raised money from top-tier institutional investors next to very successful entrepreneurs and founders.
"This is the right time to launch a fund of such size just dedicated to the fintech ecosystem in Europe. Our domain expertise will enable us to support new ventures over their entire life cycle plus bring in established relationships with all key stakeholders in the overall financial industry."
To date, the fund has invested in six startups, including digital credit card business pliant; SaaS startup Nelly; and bezahl.de, a payment management fintech, totalling almost €10m of initial investments.