London-based VC firm 13books Capital has closed its second £121 million fund to support European financial technology founders at seed to Series A rounds. The fund was backed by British Patient Capital, KfW, Isomer Capital, and IPGL.
- Founded in 2019 by Steve Gibson and Michael McFadgen, 13books Capital is a venture capital firm investing in fintech startups from seed to Series A stages across Europe, with ambitions to scale these ventures globally.
- To date, the firm’s portfolio consists of 16 startups, including Hepster, Coincover, Runa, Billhop, Thirdfort, Arbolus, Banxware, Minna Technologies, and Wert. The firm has also successfully exited from Roadzen.
- Fund II will invest in startups, with ticket sizes ranging from £1 million to £7 million. The initial fund has already backed five fintech startups, including Aria, Lune, Ramify, and DataMarked.
“It is clear that European fintech entrepreneurs desire a sector-focused, founder-focused venture platform that has meaningfully impactful networks across the industry. We believe European fintech is entering a golden period; we thank our LPs and founders for their trust and look forward to supporting the next generation of pioneering fintech entrepreneurs,” Partner at 13books, Michael McFadgen, stated.
- The LPs backing the fund include British Patient Capital, a part of British Business Bank, which has invested £25 million, alongside Development Bank, KfW Germany, London-based VC Isomer Capital, and UK-based IPGL.
“We are investing in 13books Capital’s latest fund as they look to support the new wave of innovative fintech businesses which will provide the technology that the financial services sector requires. The team at 13books Capital has the experience and sectoral expertise required to back bold founders and support early-stage fintech businesses as they look to scale,” Managing Director at British Patient Capital, Christine Hockley, commented.
