BankTech Ventures Secures Carey Ransom as Its New Managing Director

BankTech Ventures, LP announced that it has secured the services of Carey Ransom as its new Managing Director.

Finance Magnates recently learned from a press release that Carey Ransom, an entrepreneur & Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term Investor with a career in software over the last twenty years, has been recruited by BankTech Ventures, LP, (BTV) a venture capital fund, to take the helm as the fund looks to partner with a number of the country's community banks.

Ransom brings vast experience as an entrepreneur and investor to the newly established venture capital fund. He will lead the innovative fund built specifically for community banks by a unique group of partners in the community bank ecosystem.

BankTech Ventures, LP is aiming for $150-200M for its first fund and predicts the close at the end of October. It is already evaluating several investment opportunities at this time. The new fund has been created for and by significant members from community banking, bank technology and the fintech industry. BankTech Ventures' limited partner base expects to reach over 150 community banks across the US.

The general partners of the venture capital fund include Eric Sprink, CEO of Coastal Community Bank; Carson Lappetito, President of Sunwest Bank; Steve Hovde, Chairman & CEO of Hovde Group; Charles Potts, Chief Innovation Officer, ICBA; and Wayne Miller, Executive Director, The Venture Center.

The organisation itself serves the community banking ecosystem through strategic investments, education and collaboration with its partners and ICBA members.

An Extensive and Distinguished Vocational Record

Prior to the appointment by BankTech Ventures, over the last two decades, Ransom has held a career in software and as a venture capitalist involved in countless investments.

His most recent posts include being Founder & President at Operate, a venture studio investing in and partnering with over 20 SaaS and fintech entrepreneurs; Founder & Host at Operate Podcast; Investor & Board Member at Torpago and several others. Additionally, he was also a senior executive at both Aspiration and Happy Money, as well as Chief Product & Innovation Officer at Experian.

Commenting on the appointment, Carson Lappetito, President of Sunwest Bank, said: "We are thrilled to have Carey Ransom join BankTech Ventures and lead the day-to-day fund operations. Carey and I have worked together on innovative technology and ideas for Sunwest over many years, and it's a wonderful evolution to continue our momentum with BankTech Ventures."

"Community banks are the cornerstone of thousands of cities and towns across the country, and as they continue to evolve in serving their communities, emerging technologies will play a key role. I'm excited to join an all-star banking and technology team in launching BankTech Ventures to invest in the next generation of community bank-focused technologies. Together, we will help ensure community banks remain competitive amid a rapidly changing landscape," Ransom stated.