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FinTech Investments

 

FinTech Highlights

Lending Club Founder, Renaud Laplanche

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Startups and the Un-Banking of America

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Intuit Acquires Check, the Mobile Personal Finance & Payment Company

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FutureAdvisor CEO – Wealth Management for the “Mass Affluent”

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Our FinTech Investing Approach

While we are a tight-knit partnership, often double-teaming on our investments, there is no doubt that Canvas Partner Rebecca Lynn is our resident FinTech expert.

Rebecca was the head of marketing and product at NextCard, the world’s first issuer of online credit cards. She is one of a few VCs on Sand Hill Road with in-depth consumer credit experience. Rebecca has leveraged her financial-services expertise into Series B investments in Lending Club (NYSE: LC), Check (sold to Intuit in 2014) and FutureAdvisor (digital wealth management).

The overall theme we like within FinTech is the “disintermediation of banks.” Lending Club connects borrowers and lenders directly.  Check disintermediates banks in the area of personal financial management and payments. And FutureAdvisor is re-inventing wealth management.

Because we continually refresh our FinTech thesis and map the market—including tracking startups by specific FinTech categories like payments, next-gen FICO scoring, virtual currencies and more—we have a prepared mind and ready network to assist FinTech entrepreneurs.

The above video featuring Lending Club CEO Renaud Laplanche talks about how he met Rebecca Lynn in late 2008 while she was an investor at Morgenthaler Ventures. The video was filmed in 2012, during which Renaud said Rebecca helped source 3-4 senior hires for Lending Club. Today, that number is up to 15 people, largely from Rebecca’s personal FinTech network (not through a recruiter).

We love helping our early-stage portfolio companies get things done—build their teams, hone the product-market fit, perfect customer-acquisition strategies, generate press, and form strategic partnerships.

FinTech News

Lending Club Shares Soar 56 Percent In Market Debut

Venture investor Rebecca Lynn says people thought she was crazy back in early 2009 when the she led an early stage financing round for San Francisco-based Lending Club, an online loan marketplace for consumers and small businesses.
December 12, 2014 | Xconomy/by Ching Wu

Female VCs: What Do Entrepreneurs Think Of Them, Really?

December 11, 2014 | Forbes/by Ching Wu

LendingClub Was Forged by the Financial Crisis

P2P lender hits the public market after a lot of hard work and a bit of fortuitous timing.
December 11, 2014 | Fortune/by admin

Lending Club Files for IPO; Startup Emerged During Credit Crisis

Lending Club Corp. on Wednesday filed for an initial public offering, a deal that’s likely to be closely watched as online nonbank lenders continue to gain market share from traditional banks.

The number of shares and price range is yet to be determined, the San Francisco company said in a filing with the Securities and Exchange Commission. Lending Club was valued at nearly $4 billion in a fundraising earlier this year but could seek a higher valuation in the IPO, people familiar with the matter said in June.
August 28, 2014 | The Wall Street Journal/by Ching Wu

The Daily Startup: Payment-Tech VC Surges, M&A Should Follow

Payment-processing tech is becoming a bigger deal for venture capitalists. News last week that Twitter would acquire payment infrastructure company came a few weeks after Intuit agreed to buy bill-payment service Check for $360 million. Rebecca Lynn, partner of Canvas Venture Fund and an investor in Check, expects more deals to come. “As new players including Twitter are entering the payment space, large companies will look to startups for innovation in order to stay competitive,” she said. Venture investors clearly are placing bets on the sector–payment-processing investment is on pace this year to be the highest since the $1.09 billion invested in 2000.
July 24, 2014 | The Wall Street Journal/by Ching Wu

Check Investor Rebecca Lynn on Finance Tech, Why the Number of Women VCs is Lower than You Think

Rebecca Lynn, part of the Morgenthaler Ventures team that rebranded as Canvas Venture Fund last
year, has been rated as one of the top women VCs the past two years by Forbes, the publisher of
the annual Midas List ranking.
That's based largely on her investments since joining the firm in successful financial and health
technology startups, including LendingClub, Practice Fusion, Check (previously Pageonce),
Doximity, FutureAdvisor and Convo.
May 27, 2014 | Silicon Valley Business Journal/by Ching Wu

How FutureAdvisor Plans to Shake up Wealth Management

Canvas Venture Funds' Rebecca Lynn discusses her latest investment in FutureAdvisor, the future of online wealth management, and her thoughts on being one of the only women on Sand Hill Road.
May 21, 2014 | Fortune/by admin