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13books Capital raises £121m for fintech venture capital fund

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BPC will supply £25m to 13books Capital, which focuses on early-stage fintech companies.
BPC will supply £25m to 13books Capital, which focuses on early-stage fintech companies.

UK-based fintech investor 13books Capital has raised £121m for a venture capital fund investing in fintech companies across Europe.

British Patient Capital, the venture capital arm of the UK government-owned British Business Bank, has pledged £25m to the fund.

The fund will invest primarily in Seed to Series A stages, with ticket sizes ranging from £1m to £7m.

Steve Gibson, partner at 13books Capital said: “It is clear European fintech entrepreneurs desire a sector-focused, founder-led venture platform with impactful networks across the industry.

“We believe European fintech is entering a golden period, we thank our partners including British Patient Capital and founders for their trust and look forward to supporting the next generation of pioneering fintech entrepreneurs.”

To date, 13books Capital has made 19 investments in fintech companies, including in the UK startup Lune, with five made just in the last six months.

Other successful investments across the world include Nasdaq-listed Roadzen and Ncino.

Christine Hockley, managing director of funds at BPC said: “As investors in tomorrow’s financial technology, 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.”

Robert Greenwood, director of funds at BPC said: “Continued innovation within financial services requires powerful technology. These innovative businesses not only need capital but supportive investors to help them scale, as well as the relevant expertise, network and talent.

“13books Capital has those qualities and a history of investing in venture fintech and their latest fund will allow them to continue to provide this guidance to another generation of entrepreneurs.”

Launched in June 2018, BPC manages over £3bn of assets, in a range of venture and growth capital to support high growth businesses in accessing the long-term financing needed to scale up.