Yesterday, our portfolio company Secfi (fund 3) announced their $6 million fundraising which was completed a few months back.

I first discussed Secfi back in early 2018 after our initial seed investment.

Today, the company is already profitable and growing fast. One of the trends we are focused on as we continue to invest in financial services startups is a category Wouter (Secfi founder) calls pre-wealth. I wrote a little about it in March.

The pre-wealth focus by incumbents and startups will accelerate in the coming years. Right now the focus in ‘interest on cash’ and Vanguard knockoffs which is already table stakes and commoditized for building trust and attracting assets.

That is a good thing for young people. It should be a given/commodity that people get offered the best cash interest rates on deposits and a low fee S&P index fund as they begin to save and invest. If only the boomers could have trusted their financial service providers for such sound and simple services.

Today, Secfi has the team, capital and partners to really attack the opportunity that they have identified.