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ResilienceVC bucks trend, unveils $56M fund to back fintechs working on financial inclusion
ResilienceVC, a new seed-stage fintech venture capital firm, has unveiled a $56 million fund focused exclusively on investing in fintech startups that prioritize financial inclusion. This move bucks the industry’s prevailing trend of concentrating on high-net-worth customers or large enterprises.
Founding partners Jensen Huang and Marina Temkin aim to bridge the gap by focusing on low-to-moderate-income individuals, small businesses, and underserved communities. Their strategy contrasts with many fintech investors who shy away from these markets due to perceived risks and difficulty in scaling.
ResilienceVC’s unique approach stems from its decision to base its operations outside of Silicon Valley, specifically in Washington D.C. This strategic location enables the firm to build strong connections with regulators, policymakers, and agency heads, crucial for fintech startups operating in this space.
“We’re positioning ourselves here in D.C. as a conduit to those entities,” stated Raj Temkin during an interview with TechCrunch. “I think it’s very clear that everyone in financial services needs to have deep connections to decision-makers, regulators, policymakers.”
The fund aims to invest exclusively in fintech startups that utilize innovative technologies like AI and embedded fintech to build large-scale, profitable businesses catering to the mass market.
“We want to sit in that gap – and invest exclusively in the best fintech startups that are explicitly serving the mass market,” emphasized Raj Temkin during the interview with TechCrunch.
ResilienceVC’s commitment to financial inclusion is bolstered by its partnerships with organizations such as MetLife, Skoll Foundation, and Ally Financial. The firm recognizes the immense potential in this space and believes that innovative fintech solutions can have a profound impact on people’s lives.
The venture capital firm has made it clear that it will focus solely on investing in startups that prioritize financial inclusion, bucking the trend of many investors who shy away from these markets.
