FGV Announces $35 Million Fund For AI-FinTech Startups

Venture capital firm FGV Capital, formerly known as Fiat Ventures, has announced the launch of a $35 million fund to invest in early-stage AI-FinTech startups. The fund, led by co-founders Marcos Fernandez, Drew Glover, Alex Harris, and Rohit Ramkumar, focuses on companies at the intersection of FinTech, financial access, and artificial intelligence.

Since its inception in 2018, FGV has backed over 325 companies across various sectors, generating billions in revenue. With its new AI-driven platform, FGV aims to remain at the forefront of the rapidly evolving AI landscape. The company's portfolio now includes more than 40 companies, such as Splitero, Brellium, Trellis, Sunfish, Possible Finance, and Wagmo.

FGV's efforts in the AI-FinTech sector come as many financial technology firms have yet to adopt AI services, despite the availability of such tools. According to a PYMNTS Intelligence report, only a third of FinTech executives offer AI-led chat support, while only 16% provide AI financial advice and 12% offer AI payments. FGV believes that its differentiated platform can help real winners in the industry secure partnerships and structure successful transactions.