Flourish Ventures

Big congratulations to MANTL on entering into an agreement to be acquired by Alkami Technology for an enterprise value of $400M! It has been an honor to be part of the team’s journey as an investor and to watch MANTL’s success and impact in modernizing financial infrastructure for banks and credit unions. MANTL’s mission has always been clear: “build technology that creates an equitable banking landscape where community financial institutions can not only survive but thrive.” That vision aligns deeply with our belief that infrastructure is a key driver of systems change, and your work proves it. With over $31 billion in deposits raised and 350,000+ hours saved through automation, MANTL has proven that the right infrastructure can unlock new opportunities, drive meaningful change in financial services, and create significant value. We’re excited to see what’s next as they join forces with Alkami, the fastest-growing digital banking platform in the U.S., to bring even more innovation to the industry. A huge achievement for Nathaniel Harley, Benjamin Conant, and the entire MANTL team!

The news is out! Thrilled to see the coverage rolling in about our new investment in VidyutTech as they scale their Battery-as-a-Service financing business with a $2.5M raise. Vidyut (Xitij Kothi, Gaurav Srivastava) is tackling one of the biggest barriers to EV adoption—high upfront costs—by making commercial EV ownership more affordable and accessible. We’re excited to support their journey in transforming EV financing and accelerating the transition to clean mobility. Great to see this announcement featured in: 🔹 DealStreetAsia – https://lnkd.in/eiYFvugd 🔹 The Economic Times – https://lnkd.in/eS96wY7d 🔹 Entrepreneur India – https://lnkd.in/eb5HPa2H Ravi Kaushik Harsh Gupta Shivam Satija

New Investment Alert ⚡ Electric vehicle adoption in India is surging, but financing remains a major hurdle. VidyutTech is changing the game. Their Battery-as-a-Service (BaaS) model separates the battery cost from the vehicle, making EV ownership more affordable and reducing risk for buyers and lenders. At Flourish Ventures, we believe financial innovation drives climate action. That’s why we’re excited to invest in Vidyut as they unlock the full potential of India’s EV market. We are excited to support Vidyut co-founders Xitij Kothi and Gaurav Srivastava who are enabling a future where electric mobility is accessible to everyone. 🚀🌱 Learn more about why we invested in a post from our India investment team! Harsh Gupta, Ravi Kaushik, and Shivam Satija

HR teams know the formula: happy, healthy employees = better retention and productivity. But if you can’t measure the real impact of wellness programs, how do you prove they work? As Nima Pourshasb, CEO and co-founder of minu, breaks down in Mexico Business News, the real question isn’t just how many employees use a benefit, it’s how much actual value is being delivered to employees. A great read from Nima on why the current approach to measuring impact is broken, three key principles for rethinking measurement, and what effective measurement looks like in practice. 

“𝘞𝘦 𝘪𝘯𝘷𝘦𝘴𝘵 𝘪𝘯 𝘦𝘯𝘵𝘳𝘦𝘱𝘳𝘦𝘯𝘦𝘶𝘳𝘴 𝘸𝘩𝘰 𝘢𝘳𝘦 𝘤𝘩𝘢𝘯𝘨𝘪𝘯𝘨 𝘵𝘩𝘦 𝘵𝘳𝘢𝘥𝘪𝘵𝘪𝘰𝘯𝘢𝘭 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘴𝘺𝘴𝘵𝘦𝘮 𝘢𝘯𝘥 𝘮𝘢𝘬𝘪𝘯𝘨 𝘪𝘵 𝘮𝘰𝘳𝘦 𝘢𝘤𝘤𝘦𝘴𝘴𝘪𝘣𝘭𝘦 𝘵𝘰 𝘴𝘦𝘨𝘮𝘦𝘯𝘵𝘴 𝘵𝘩𝘢𝘵 𝘢𝘳𝘦 𝘤𝘶𝘳𝘳𝘦𝘯𝘵𝘭𝘺 𝘶𝘯𝘥𝘦𝘳𝘴𝘦𝘳𝘷𝘦𝘥. 𝘞𝘦 𝘮𝘦𝘢𝘴𝘶𝘳𝘦 𝘰𝘶𝘳 𝘪𝘮𝘱𝘢𝘤𝘵 𝘤𝘭𝘦𝘢𝘳𝘭𝘺 𝘣𝘺 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘳𝘦𝘵𝘶𝘳𝘯, 𝘣𝘶𝘵 𝘵𝘩𝘢𝘵 𝘪𝘴 𝘯𝘰𝘵 𝘦𝘯𝘰𝘶𝘨𝘩. 𝘞𝘦 𝘩𝘢𝘷𝘦 𝘵𝘰 𝘭𝘰𝘰𝘬 𝘢𝘵 𝘵𝘩𝘦 𝘴𝘺𝘴𝘵𝘦𝘮𝘢𝘵𝘪𝘤 𝘪𝘮𝘱𝘢𝘤𝘵 𝘰𝘧 𝘵𝘩𝘦 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴 𝘸𝘦 𝘪𝘯𝘷𝘦𝘴𝘵 𝘪𝘯.” Flourish LatAm Lead Diana Narváez (she/her) recently spoke with Startups about the next wave of fintech in Latin America—why B2B fintechs are gaining traction, how embedded finance is changing the game, and what needs to happen to fund more female entrepreneurs. Thanks to Stephanie Tondo for a great conversation on the future of fintech in the region and how Flourish is backing founders who are driving lasting change.

What do identity risk, mobile banking, home insurance, financial health, and regulatory compliance have in common? They’re all areas where fintech is driving meaningful change, and five of our portfolio companies leading the charge just landed on the Forbes #Fintech50! Congratulations to Alloy, Chime, Kin Insurance, Propel, Inc, and Brico for making this year’s list! These companies are tackling some of the most pressing financial challenges by helping millions access better banking, insurance, financial tools, and compliance solutions. Here’s a closer look at how they’re making an impact: 🔹 Alloy – Powering better fraud, credit, and compliance decisions for the world’s top financial institutions, Alloy helps 600+ banks and fintechs manage identity risk more effectively. 🔹 Chime – Built on the belief that everyone can unlock financial progress, Chime empowers millions with intuitive tools that put them in control of their financial future. 🔹 Kin – On a mission to change home insurance from what it is to what it should be, Kin is built for the future and prepared to meet its challenges head on while helping customers do the same. 🔹 Brico – Taking the hassle out of financial licensing, Brico’s SaaS platform automates license applications, maintenance, and renewals for financial institutions and fintechs. 🔹 Propel – Giving low-income Americans the tools to take control of their financial health, Propel’s app helps millions manage essential benefits like SNAP and rent relief. A huge congratulations to founders Tommy Nicholas, Laura Spiekerman, Charles Hearn, Chris Britt, Sean Harper, Snigdha Kumar, Edward Swiac, Jimmy Chen and your amazing teams! We couldn’t be more excited to see your impact recognized and look forward to what’s ahead for you and the fintech industry as a whole.

Kicking off the day with meaningful conversations! Yesterday in Nairobi, we hosted a breakfast alongside our affiliate Madica and portfolio company Zone in parallel with the Africa Tech Summit. Founder wellbeing was at the heart of the discussion—not just the data, but the real question: how can we build a stronger, more resilient startup ecosystem? Flourish’s Arjuna Costa, Ameya Upadhyay, Efayomi Carr, and Jana Aboughaly, joined by Madica’s Emmanuel Adegboye and Zone’s Obi Emetarom, brought insights to life through real founder experiences, sparking candid conversations about the challenges they navigate. A big thank you to the founders, investors, and ecosystem builders who joined us and contributed to an energizing discussion.

The power of AI is redefining what’s possible in fintech, and Flourish Principal Harsh Gupta took the stage at the Fintech Meetup in Mumbai to explain how, what he’s currently seeing, and what’s next. Throughout the discussion he detailed how: 🛠️ AI will play a significant role in bolstering the analytical capabilities of enterprises. 🌱 As with previous technological advancements, AI adoption will be gradual as businesses mature. 📈 AI is delivering ROI now through efficiency gains, cost reductions, and better customer experiences. 🌐Fintechs are already seeing real-world benefits in areas including: Credit underwriting, collections, compliance, fraud monitoring, customer service, and personalized investment plans among others. But if you missed Harsh at the Fintech Meetup, don’t worry, you can also catch him this week in Mumbai at the Bharat Fintech Summit where he’ll join the ‘Banks X Fintech Infra: The Future of Banking in a BaaS-Driven Economy’ panel. He’ll dive into how banks and fintechs are unlocking new digital financial ecosystems that help drive financial inclusion, how BaaS is delivering scalable, inclusive, and customer-centric banking solutions, and how agile FinTech infrastructure is transforming banking. Headed that way? Be sure to reach out and connect with Harsh. Full details here: https://lnkd.in/g7g4w-2m 

Founders across Africa are driving innovation and creating economic opportunity, so why aren’t we talking more about their wellbeing? In this NextBillion analysis, based on the experiences of nearly 200 startup founders across 13 African countries, Flourish Director of Strategy and Insights Stella Klemperer details findings from our survey on founder wellbeing in Africa, what founders are actually experiencing, and how investors can better support them. From the sources of founder stress to how they’re coping, check out Stella’s full article breaking down data from the report, with insights from African entrepreneurs in our portfolio including Belal EL-Megharbel, co-founder and CEO of MaxAB and Tayo Oviosu, founder and CEO of Paga Group Ltd

Look who made LAVCA’s annual list of Emerging Women Investors in Latin America! 🎉 We are incredibly proud to celebrate our very own, Diana Narváez (she/her). As Flourish’s lead investor in Latin America, she has been a tireless advocate for founder well-being and a driving force behind efforts to make the financial system more inclusive and equitable. In her role as Flourish’s lead investor in LatAm, Diana has expanded the firm’s presence across the region, working closely with the founding teams of rising fintechs such as Kamino, heru (YC S19), Neon, dolado, MoradaUno, and Swap, among others. She takes a thoughtful approach to sourcing, executing, and managing early-stage investments in startups creating innovative solutions to enhance the financial wellness of households and SMBs. Most recently, she led due diligence and investments in Akua, MoradaUno and minu which all closed in the second half of 2024. We’re thrilled to see her passion, vision, and commitment to the region recognized. Congratulations, Diana and all the investors who made the list for their impact across Latin America. https://lnkd.in/dRP7simx