18 February 2018
visit www.ebaday.com

Former Visa president raises $125m for new fintech fund

27 January 2017  |  9843 views  |  1 wallet

Nyca Partners, a fintech startup-focused venture capital firm set up by former Visa president Hans Morris, has raised more than $125 million for its second fund.

Morris, who before becoming Visa president spent 27 years at Citi, set up Nyca Partners in 2014 with a $30 million fund, backing more than 30 firms - including LendingClub, SigFig and Orchard - in merchant payments, alternative credit, digital advice and finacial infrastructure.

The new fund has 10 institutional investors and 29 Limited Partner Advisors and has already made a dozen investments, including in insurance startups Embroker and Ladder.

Says Morris: "By providing financial technology knowledge to early stage companies, we are able to offer a unique and much-needed service. This is an exciting time for fintech and this latest fund will allow us to continue to invest in companies that leverage technology to build platforms that empower consumers."

After a bumper few years, the North American fintech funding scene has cooled in recent months. A recent report from Citi shows that North American VC investment in 2016 is expected to be down by more than a third on 2015.

Comments: (1)

A Finextra member
A Finextra member | 30 January, 2017, 03:33 Another former something or other starts up yet another fintech enterprise. I find it extraordinary that Hans didn't like this when he was at Visa, but used some of his £100m pay off to set this up. Not bad for a bloke who lasted less than two years and didn't implement a thing.. so I am told.
Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

China's fintech dragons roar

China's fintech dragons roar

26 January 2017  |  9167 views  |  0 comments | 14 tweets | 9 linkedin
Fintech veterans create new investment vehicle

Fintech veterans create new investment vehicle

18 January 2017  |  5617 views  |  0 comments | 5 tweets | 2 linkedin
Global funding for VC-backed fintech firms doubles to $13.8bn

Global funding for VC-backed fintech firms doubles to $13.8bn

09 March 2016  |  12978 views  |  0 comments | 30 tweets | 31 linkedin
VCs like bees around honey as fintech heats up

VCs like bees around honey as fintech heats up

18 December 2015  |  13229 views  |  1 comments | 27 tweets | 12 linkedin
Fintech leads London investment boom

Fintech leads London investment boom

05 September 2014  |  11714 views  |  0 comments | 26 tweets | 17 linkedin
VCs join fintech gold rush

VCs join fintech gold rush

08 August 2014  |  13143 views  |  0 comments | 35 tweets | 22 linkedin

Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comvisit www.ebaday.comvisit www.swift.com/your-needs/instant-payments

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10737 views comments | 16 tweets | 11 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8409 views comments | 15 tweets | 42 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8121 views 10 comments | 21 tweets | 26 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
7839 views 3 | 9 tweets | 4 linkedin

Featured job

Find your next job