We back the infrastructure layer of financial services.

Financial services runs on infrastructure most people never see.

Every fintech consumer app — the ones that get the press, the ones that raised at eye-watering multiples — is built on an API stack for identity, payment rails, data connectivity, card issuing, and compliance plumbing. These are not glamorous businesses; they are load-bearing. The consumer product is the storefront. The infrastructure is the foundation. We invest in foundations.

Rafael, Aisha, and Jonas spent a combined 30+ years building and running components of this stack at custodian banks, payment processors, and neobanks. We are operators who chose to become investors in the same layer we once operated. That means when a founder describes a technical architecture decision or a bank partnership negotiation, we're not pattern-matching against other investment memos — we're drawing on direct experience with the exact systems and constraints they're navigating.

What we look for: technical founders with a clear understanding of the regulated environment their infrastructure operates in; companies where the network or data asset compounds as scale grows; businesses where the unit economics improve structurally as penetration deepens. We're not looking for the next consumer fintech application. We're looking for the infrastructure that the next ten consumer fintech applications will be built on.