Announcing BTV III 🚀

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Covered in Techcrunch here

We’ve Raised $140M And, Spoiler Alert, We’re Still All In on Fintech

We’re excited to announce that Better Tomorrow Ventures (BTV) has closed our third fund at ~$140M. This raise brings us to $450M in AUM, following our $150M BTV II from 2021 and our $75M debut fund in 2019.

Over the past six years, we’ve backed some of the most promising founders in fintech, and we’re just getting started. Our thesis hasn’t changed: finance is still one of the largest industries yet to be fully digitized. About 20% of global GDP is financial services, and much of it remains inefficient, analog, and ripe for reinvention. We believe the next decade will see the continued unbundling and rebuilding of financial infrastructure, and a complete rethinking of how financial services are built and delivered, with AI playing an increasingly important role.

Our Track Record

Since BTV I, we’ve led rounds for ~85 pre-seed and seed stage companies at the intersection of finance and software, especially in infrastructure and AI applications. Many of these companies have gone on to raise from world-class firms like Khosla, Accel, Andreessen Horowitz, and Insight Partners.

Some highlights:

Unit, Coast, Relay, Basis, and others - companies that quickly became leaders in their categories.
Earlier angel investments by Jake and Sheel in companies like Flexport, Ramp (most recently valued at $22B), Mercury ($3.5B), Human Interest (most recently valued at $3B) and Ethos (recently filed for IPO).
A portfolio that increasingly reflects where we see the future: financial workflows operated by agents, the collapse of human-based professional services into software, embedded financial services bypassing incumbents, and full-stack vertical AI businesses.

Who We Are

BTV isn’t just a venture firm, we’re a team of fintech builders.

Before investing, Jake started NerdWallet (Nasdaq: NRDS), and Sheel founded and exited two companies of his own. We’ve been investing in fintech for over a decade, including running a fintech accelerator together before starting BTV, which produced some amazing fintech companies like Albert and Kin (most recently valued at $2B).

Our entire team is made up of fintech founders and operators, bringing firsthand experience to the challenges early-stage founders face.

The Road Ahead

With BTV III, we’ll continue writing checks between $500K and $4M and expect to back another 30–35 companies. We’re particularly excited by opportunities at the intersection of finance and AI.

AI is reshaping technology faster than any of us could have imagined and financial services may be the most exciting industry for its application.

Trillions in aggregate market cap in financial services
Data-rich, high-regulation, document-heavy manual workflows
Large cost-takeout opportunities
Product enablement that accelerates new builds and shortens time to multi-product expansion

Gratitude to Our Partners

We’re deeply thankful for those who have supported us over the years, for the trust our founders place in us, and for everyone in the industry who was generous with their time and upon whose shoulders we’re now standing.

Our job is simple: to help founders leverage fintech rails to build the companies that will redefine our economy's largest industries.

We're at the beginning of an AI gold rush, and we couldn't be more excited for the role fintech will play.

Team BTV