Better Tomorrow Ventures (BTV) venture fund has raised $140 million for its third fund. This was reported by Zamin.uz.
These funds will mainly be directed towards early-stage projects in the financial technology sector. According to the fund's co-founder Sheel Mohnot, the financial services sector is not yet fully digitized, presenting significant opportunities in this area.
He stated that 20 percent of the world's gross domestic product consists of financial services, yet many operations are still carried out manually. BTV has previously supported leading companies such as Chime, Klarna, and Wealthfront.
The current fund is particularly focusing on the accounting and bookkeeping sector. Artificial intelligence technologies are expected to play an important role in this field.
So far, BTV has invested in three accounting startups: Basis, Layer, and InScope. Additionally, projects such as Coast (a transportation payments platform), Relay (a cash management service), and Unit (a banking services platform) are included in the fund's portfolio.
Through the third fund, BTV plans to invest between $500,000 and $3.5 million in 30 to 35 companies. The aim is to develop innovations in the financial technology sector and support new projects with these funds.
