Home Venture Capital Former PayPal execs deploy $158 million fintech venture fund

Former PayPal execs deploy $158 million fintech venture fund

Former PayPal execs deploy $158 million fintech venture fund

Founded by a trio of former Paypal executives, Inifinity Ventures has raised £158 million for its inaugural early-stage fintech venture fund.

Infinity Ventures was co-founded by Jeremy Jonker, Jay Ganatra and Mario Ruiz. The trio formerly held senior roles at PayPal, where their collective deal and investment experience notably include venture investments in Plaid, Divvy, Olo, Extend, Paxos, PPRO, Acorns, TaxBit, Toss, Tink, Happy Returns, and Paidy. Additionally, the team led the M&A transactions of Venmo, Braintree, Honey, Hyperwallet, Xoom, Swift Financial and iZettle, and executed the growth equity investments into companies such as MercadoLibre, GoJek, Pine Labs and Uber.

“Fintech has been proven to be the great enabler of our generation. At PayPal we saw firsthand how digital payments could transform businesses, communities, and most importantly, individuals’ lives,” says Ruiz. “Our vision with Infinity Ventures is to expand the reach of commerce and fintech utility. To deliver on that, we are assembling a diverse team focused on global opportunities with the potential for greatest impact.”

Infinity Ventures began investing from the fund in Summer 2021 and has so far deployed capital investments, in eleven companies globally spanning the US, Asia, Latin America, and Europe.

The firm participates in pre-seed through Series A rounds with initial checks ranging from $500K to $8 million. In total, it expects to invest in approximately 25 global companies from the inaugural fund.

Jonker states: “We see a massive opportunity investing in key infrastructure, making fintech apps and services more scalable and secure. Our team has the experience, and isn’t afraid to get our hands dirty helping founders build this core, underdeveloped layer, from negotiating contracts, formulating the product roadmap, and delivering on partnership and client opportunities.”

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