Rex Salisbury, previously an investment banker, became enamored with fintech in 2015 while exploring engineering at a mortgage startup. The sector saw immense growth until 2021, after which interest waned due to rising rates. Despite perceptions that fintech's potential has been tapped out, Salisbury argues that only 1% of global financial services revenues have been captured. His first fund has successfully invested in various pre-seed and seed-stage startups, with half achieving Series A funding, leading to a second fund launch with $20 million.
"If you're a specialist and you know where to look, you'll realize that only 1% of global financial services revenues has been captured by fintech."
"Of the 33 companies he has funded, Salisbury claims about half have already secured Series A funding, considerably higher than the 15.4% seed-to-Series A graduation rate tracked by Carta."
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