From PandO Daily:
Financial services tech could not be more hot right now. The industry that saw almost no innovation on the consumer-facing for the last decade, has exploded in the last year, and the dollars are starting to follow – both from consumers and VCs.Just one month ago, Motif introduced its social, do it yourself thematic stock investing tool. Today, the company is announcing a $25 million Series C financing led by Goldman Sachs & Co. with participation from existing Motif investors Foundation Capital, Ignition Partners, and Norwest Venture Partners.The makeup of the new round could not be more strategic for Motif. The startup will gain access to some of the best minds on Wall Street, while also gaining credibility that comes with the backing of the world’s most revered investment bank. Notably, the investment is not being made by an internal venture fund focused on backing hot startups in any category, but rather by the firm’s “Principal Strategic Investments group, which signals that the firms could likely grow significantly closer in the future. Darren Cohen, a managing director of this group, will join Motif’s board as an observer....MORE
HT: Abnormal Returns
