In immediately’s episode, I’m joined by Brad Bernstein, Managing Associate at FTV Capital, the place he leads investments in enterprise expertise & providers and monetary providers.
Brad and I cowl a variety of matters, together with:
What Drives FTV Capital’s Success:
Brad opened FTV’s New York workplace 19 years in the past. Since that point, the crew has achieved unimaginable success together with closing a $2.3B fund earlier this yr. Brad credit 4 principal ideas for FTV’s success: area experience, strategic community, proactive sourcing, and operational excellence. The crew has been targeted on the intersection of enterprise expertise and monetary providers from its inception. This intense focus helped them grow to be thought leaders within the area, and domesticate a community of working executives to drive worth for his or her portfolio corporations. Extra just lately, FTV has added a proprietary software program program to help in sourcing, serving to them actively observe 20,000 corporations and communicate with 5,000 corporations per yr. Lastly, FTV has additionally added an working crew, FTV Propel, to assist founders apply finest practices all through the assorted capabilities of their corporations.
Choose Investments:
Brad and I dive deeper into three investments the crew has made just lately:
- Enfusion: Enfusion is a supplier of totally hosted front- to back-office options for hedge funds and asset managers, together with execution, order administration, portfolio administration, threat, GL accounting, reconciliations, reporting and knowledge warehouse. FTV had a thesis across the want for higher expertise in asset administration, and recognized Enfusion as the one firm with an end-to-end software program answer. The corporate went public final October at one of many highest multiples seen within the fintech panorama.
- Plate IQ: Plate IQ was the primary funding out of FTV’s Fund VII. It’s a restaurant and hospitality accounts payable (AP) automation and funds platform. By leveraging its community, FTV was in a position to usher in a brand new chairman and CEO to assist the corporate attain new heights.
- Paddle: Paddle is a Income Supply Platform for SaaS corporations that powers fast development throughout buyer acquisition, renewals and growth by enabling checkout, invoicing, funds and tax compliance in a single unified platform. Paddle is headquartered in London and focuses closely on multi-currency and cross-border choices.
- LoanPro: LoanPro is a SaaS-based mortgage administration, servicing and collections platform for different, fintech and conventional lenders. The corporate was based by three brothers in Utah, who raised no institutional cash till working with FTV.
- EBANX: EBANX is a cross-border cost processing firm that gives Latin American native cost strategies to worldwide retailers, enabling them to promote their services to Latin America. With the explosion of eCommerce over the previous two years, EBANX has been capable of develop in a short time, changing into a powerhouse in Latin American funds.
Thrilling Developments in Fintech:
Brad highlights a few areas inside fintech that he’s significantly excited to see play out, together with low-code/no-code software program options, AI embedded in eCommerce options, embedded insurance coverage, and procurement outsourcing.
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Brad Bernstein:
Brad is managing accomplice and has been a development fairness investor at FTV Capital for over 18 years, main investments in enterprise expertise & providers and monetary providers. Brad has over 25 years of personal fairness expertise. Previous to FTV, Brad was a accomplice at Oak Hill Capital Administration and its predecessors the place he managed the enterprise and monetary providers group. He started his personal fairness profession with Patricof & Firm Ventures and began his skilled profession within the funding banking division of Merrill Lynch in New York.
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In regards to the Creator:
Anirudh Singh is a second-year MBA Candidate at The Wharton Faculty, the place he’s a part of the Wharton FinTech Podcast crew. He has a ardour for financial improvement, enterprise capital, monetary providers, and all issues FinTech. Don’t hesitate to succeed in out with questions, feedback, suggestions, and alternatives at singhan@wharton.upenn.edu.
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