The British pound may be at one of its lowest points of the last 50 years right now (and may still go lower…welp), but some investors see this as an opportunity.
A new fintech VC called Motive Partners, founded by a team of fintech entrepreneurs and investors, is launching today with offices in London and New York. The company is not revealing its fund size but earlier this month it quietly filed a Form D with the SEC noting that it was raising $150 million.
And that is just in the U.S. As an entity with headquarters in the UK as well, it is likely to be raising (or trying to raise) significantly more, something we’ve heard through the grapevine as well.
There are hundreds of VCs in the market today focusing on financial tech startups, either as their sole focus or as a special interest among several others. Motive, in that regard, is a late entrant, but it is banking on a couple of things to make a mark anyway.
The first is the size of the market. Motive quotes figures from Goldman Sachs that estimate $4.7 trillion in annual revenue at risk of displacement by new tech-enabled entrants. Turning that around, you can see investing in those disruptors as a $4.7 trillion opportunity.