Velocity Capital raises €105m evergreen fintech fund

The firm has also appointed SureTrade and TradeKing co-founder Don Montanaro as a partner.

Velocity was founded in 2006 by former Petroplus co-CEO and co-founder Willem Willemstein, and its senior team is comprised entirely of entrepreneurs. Partner Allard Luchsinger joined the firm in 2011 having previously co-founded online brokerage firm Zecco, which merged with Montanaro's TradeKing in 2002.

Investors
The largest investor in Fintech Ventures Fund is Velocity Capital, the family office of Willem Willemstein, a source with knowledge of the situation told Unquote. The vehicle also received commitments from a small number of family offices, all of which are based in the Netherlands.

Investments
The new fund will target early-stage investments in financial technology companies, primarily across Europe, Africa and North America, though it will have a global remit. Unquote understands that the firm typically commits €2-5m to series-A rounds, with the ability to write larger cheques in follow-on rounds.

The vehicle will also manage a portfolio of businesses related to banking, credit, payment, insurance, money management and investing, which it has inherited from Velocity Capital Private Equity.

Velocity recently co-led a €14m series-B funding round for Czech mobile payments application Twisto alongside Finch Capital.

People
Velocity Capital Fintech Ventures – Willem Willemstein (founder, general partner); Allard Luchsinger, Don Montanaro (partners).

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