About BankTech Ventures
BankTech Ventures is a venture capital firm investing in seed-stage, early-stage, growth-stage, and later-stage companies. The firm seeks to invest in technology-based sectors. The firm was founded in 2021 and is based in Sandy, Utah.
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Latest BankTech Ventures News
Sep 22, 2023
Friday 22 September 2023 13:51 CET | News Vero Technologies , a wholesale financing technology and loan servicing platform, has announced the close of its Series A funding round, led by venture capital fund BankTech Ventures. According to the press release, Vero Technologies received significant investment from Sopra Steria Ventures and other fintech investors including Arcadia Funds, Antler, AAF Management, and the Independent Community Bankers of America. Vero will utilise this newly found capital to accelerate the growth of its Lending-as-a-Service (LaaS) offering. This will give banks a digital solution for the financial processes that stand in the way of their expansion in the wholesale financing space. Manufactured goods dealers, such as auto, power sports, and agricultural equipment dealers need capital to acquire inventory from manufacturers and suppliers. Historically, banks have been unable to offer this form of wholesale financing due to complexities with originating, servicing, and monitoring dealers. Therefore, Vero Technologies’ Lending-as-a-Service platform aims to streamline these processes so that banks are able to extend wholesale financing to dealers in their local communities. This is done all without overhauling existing systems or adding specialised headcount. The platform leverages Open Banking technology to offer end-to-end loan lifecycle management to its current user base of community and regional banks in the US. Its capabilities span from underwriting, loan servicing, and digital auditing to real-time inventory, risk management, and financial analytics. As a result, banks are able to introduce wholesale financing, while providing dealers lower cost of funds and enhancing operational efficiencies. The platform also includes dealer and supplier-facing tools to minimise unnecessary manual interactions. Through Vero, dealers would have access to lower-cost funds through their preferred financial services partners, ensuring that dealers could consolidate their financial resources and possibly drive business growth. About Vero Vero Technologies is a provider of wholesale financing solutions for dealers across auto, marine, power sports, agricultural equipment, and other verticals of manufactured goods. The company partners with banks and speciality finance companies to enable its LaaS program for dealers of manufactured goods. Its platform offers real-time inventory and financial analytics, risk management capabilities, and streamlined operational processes. About BankTech Ventures BankTech Ventures is a venture capital firm built by community bankers for community banks. It invests in companies that support the future of the industry. With over 100 community banks LPs, 15 portfolio companies, and a team of bank, fintech, and investment professionals, BankTech’s ecosystem aims to ensure a positive future for community banking.
BankTech Ventures Investments
BankTech Ventures has made 12 investments. Their latest investment was in Revio as part of their Series B on September 9, 2023.
BankTech Ventures Investments Activity
Series C - II
Seed VC - II
BankTech Ventures Fund History
1 Fund History
BankTech Ventures has 1 fund, including BankTech Ventures Fund I.
BankTech Ventures Team
2 Team Members
BankTech Ventures has 2 team members, including current Managing Director, Carey Ransom.