In this episode of Consumer Lending Perspectives, Sheel Mohnot, Co-Founder and General Partner of Better Tomorrow Ventures, joins the show with host, Jeff Bogan, CFO at Upgrade and fintech veteran. Better Tomorrow Ventures is a venture capital fund dedicated to fintech companies globally.
Sheel’s insights span the fintech landscape, from the symbiotic relationship between fintech and banking to the transformative potential of AI in areas like compliance and underwriting.
He discusses how Better Tomorrow Ventures nurtures entrepreneurs’ ideas into thriving businesses through seed investing, emphasizing infrastructure solutions.
Tune in as Sheel explores new investment frontiers, including accounting and mortgages, and shares his vision for Better Tomorrow Ventures’ role in driving Fintech innovation forward.
IN THIS EPISODE:
- (1:30) Sheel explains how he became involved with Kiva and what prompted him to move into the Fintech space
- (06:43) Better Tomorrow Ventures, what is seed investing and how entrepreneurs' ideas become businesses
- (14:40) Interaction between fintech and the banking industry
- (20:32) Discussion of AI and advice for choosing an AI business partner or vendor
- (26:12) New areas of investment that Sheel finds interesting, his outlook for Better Tomorrow Ventures, and his thoughts on the consumer
KEY TAKEAWAYS:
- Sheel Mohnot’s early work at Kiva, a consumer lending platform enabling microloans to alleviate poverty, shaped his fintech career. Kiva’s model of crowdfunding small loans (as little as $25) to individuals in developing countries highlighted the power of technology to improve financial access, influencing his focus on fintech solutions.
- Mohnot’s venture capital fund, Better Tomorrow Ventures, focuses on seed-stage Fintech investments, leveraging his and his partner’s operational experience.
- BTV prioritizes founder-driven investments, valuing speed, tenacity, and articulation in entrepreneurs, and targets fintech infrastructure solutions (e.g., Unit, Layer) over other areas.
- Mohnot sees significant opportunities in specialized AI applications for Fintech, such as compliance, underwriting, and accounting automation (e.g., Basis, Kaaj, Monk). These solutions address specific industry needs, reduce risk, and enhance efficiency, unlike generic AI models, making them attractive investment targets.
RESOURCE LINKS
Better Tomorrow Ventures - Website
Sheel Mohnot - LinkedIn
Upgrade - Website
Jeff Bogan - LinkedIn
ABOUT THE GUEST:
Sheel Mohnot is Co-Founder and General Partner of Better Tomorrow Ventures, an early-stage venture capital fund investing in Fintech companies globally. He’s also the General Partner of the 500 Fintech fund. His own startup experience includes two successful Fintech exits: a payments company. Previously, he worked as a financial services consultant at BCG, and he began his Fintech career at Kiva, a non-profit, peer-to-peer lender.