San Francisco-based fintech venture firm Better Tomorrow is putting everything it’s got into nurturing early-stage startups. And as of their funding round concluded in mid-February, Better Tomorrow itself is in a much more solid financial position to do so.
“We are founders ourselves and think that we can have the most impact at the seed stage,” said Better Tomorrow co-founder Sheel Mohnot. “Seed is where founders need the most support, and we love being the first call.”
Better Tomorrow made waves in its initial fundraising back in 2020, pulling in $75 million and characterizing investors’ excitement to get in on fostering fintech startups as “frenzied.” Now, less than two years later, it has more than tripled that number, with most of the LPs from its first fundraise returning to contribute $225 million to Better Tomorrow’s war chest.
Just what does Better Tomorrow plan to do with these new funds at its disposal? According to Mohnot and fellow company head Jake Gibson, previously the co-founder of Nerd Wallet, Better Tomorrow is looking to get into SaaS firms as well as startups looking to expand their product offerings to include financial services like payroll and banking.
“We like to invest in companies that make it easier for those non-fintech companies to become fintech companies,” Mohnot said.
