Truist Financial has launched a venture capital division and is leading the latest funding round for the global payments network Veem, its first investment.
The Charlotte, N.C., company says that Truist Ventures, announced Wednesday, will fund startups in fintech and related categories. It can offer early-stage companies the capital they need to grow combined with access to experts within the bank. When it comes to funding, Truist Ventures will be “stage agnostic,” willing to either lead rounds or support companies through different phases of fundraising.
“Our objective is to help Truist deliver the right mix of human touch and innovative technology,” Dontá Wilson, chief digital and client experience officer at the $504 billion-asset Truist, said in an interview. “We are the link between Truist and the broader entrepreneur community within and beyond the financial services industry.”