Nyca Partners to boost investments in Fintech space, raises $210mn

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Nyca Partners

New York-based fintech venture capital firm, Nyca Partners, has finished its third round of funding, raising $210million. The US venture firm that has invested in a number of financial technology businesses including PayRange, Trellis, Affirm and Acorns, is expected to pump in more money in Fintech start-ups.

Venture capital investment in fintech is expected to reach new heights this year, as per market forecasts. A report by TechCrunch claims investors have already bet an amount of $8.6billion on US-based fintech start-ups in the first half of 2019. In 2018, the amount of investment in the space had hit a number of $12bn, with companies like Robinhood, Coinbase and Plaid among others raising multi-hundred-million-dollar funding rounds.

Nyca’s third fund is likely to target new companies with a focus on merchant payments, alternative credit, infrastructure, digital advice and financial infrastructure.

Nyca’s debut fund closed on $31mn in 2014, with a second round in 2017, a similarly focused fintech effort that saw fund raising of $125mn.

The US-based venture firm is at present being led-by ex-Citigroup executives. Nyca’s Managing Partner is Hans Morris and Partner & Chief Operating Officer (COO) is Ravi Mohan.

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