Led by investors in Coinbase, Groww and Neon, the seed-stage firm has backed 62 companies, including 10 generating more than $100M in annual revenue.

SAN FRANCISCO: Propel Venture Partners, a seed-stage venture firm investing in the infrastructure, enablers and adjacencies that power tomorrow’s economy, today announced it has raised a $100 million Fund V, bringing the firm’s total commitments to over $436 million. Co-led by Jay Reinemann and David Mort, who together bring investing and operating experience from BBVA, Silicon Valley Bank and Visa, Propel supports founders at the earliest stages, with an investment strategy built on active involvement and a concentrated portfolio. With Fund V, the firm will further scale its approach to investing in areas where technology and financial services converge, as well as in horizontal technologies that incumbents cannot ignore.

Financial services is a massive part of the global economy, contributing up to 31% of GDP. It’s also one of the largest consumers of technology, accounting for more than $600 billion in annual IT spend. However, legacy infrastructure, organizational design and regulatory hurdles abound, hindering timely innovation. “The disequilibrium between financial services incumbents’ technology needs and their ability to quickly innovate creates ample opportunities for startups, no matter the economic climate,” said founder and General Partner Jay Reinemann. “Propel helps execution-focused founders build enduring businesses that rethink how financial value is created, moved and secured. Our portfolio companies consider us true partners and confidants, and we’re committed to helping them shoulder the burden when challenges inevitably arise.”

Since its founding in 2016 and with the support of its long-term limited partner BBVA, Propel has backed 62 companies across modern banking and wealth platforms, crypto infrastructure and brokerages, and enterprise SaaS serving the Fortune 500. Currently, the firm invests in pre-seed and seed rounds, writing primarily $1-4 million checks. Propel’s portfolio highlights include:

• Scaling Businesses: 10 companies are generating more than $100 million in annual revenue, including Coinbase, Docusign, Groww, Guideline, Hippo, Neon, Newfront and Nomad Global.
• Global Reach: In addition to the U.S., companies are headquartered in 8 countries, including Neon and Nomad Global in Brazil, Akua and Truora in Colombia, Safebooks in Israel and Groww in India.
• Notable Public Listings: Investments include Coinbase, Docusign and Hippo.
• LatAm Commitment: $98 million has been invested across 13 companies in Latin America. With its large population and favorable market dynamics, São Paulo is a particular focus, with companies including Neon and Nomad Global.

“Propel is a deeply founder-aligned firm that aims to remain true to the craft of venture capital. Our smaller fund size allows us to invest early, be aligned with founders and take product risk appropriate with the earliest stages of investing,” said General Partner David Mort. “We’re actively investing in the new economy, where AI is rebuilding every aspect of financial services, crypto is establishing new rails for economic activity and emerging technologies are helping large enterprises be competitive in this new paradigm.”

To date, Propel’s Fund V has made five new investments across emerging sectors, including AI-native companies for financial planning and analysis, payment processing infrastructure, and energy infrastructure. For more information on Propel, or to view its open investment team positions or submit a pitch deck, visit www.propel.vc.

About Propel Venture Partners
Founded in 2016, Propel is a seed-stage venture firm that backs visionary founders building tomorrow's economy. These founders are revolutionizing money, reinventing financial services, and creating technology that transforms traditional institutions. Propel invests in startups worldwide and to date has raised over $436 million to invest in industry-leading companies such as Coinbase, Docusign, Groww, Guideline, Neon, and Newfront. For more information, visit www.propel.vc or follow the firm on LinkedIn.

Fonte: Business Wire