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Investors in start-ups like ours
22 international investors that have backed start-ups like ours, scored on 14 adapted conditions: fresh capital, the right cheque, a matching thesis, access from Romania.
Questions the analysis answers
- Which international investors back start-ups in fintech, financial data and financial education, and have done so before?
- Which of them have fresh capital and a first cheque that fits a pre-seed or seed start-up?
- Which ones actually invest in Romania and Central and Eastern Europe?
- Would any of them evaluate a direct collaboration with us? The invitation is open to all 22.
An open invitation to all 22
Dear investors, we have done for you what we do for every asset: we looked for the substance behind the reputation, condition by condition, with a source for every score. We did it because a start-up like ours depends most on exactly the people on this list.
So we invite you, publicly and with respect, to do the same for us. Three things, any of them is welcome:
- Check your score. If a score is wrong, send us the correct value with a source. We publish the correction within 7 days and say who asked for it.
- Score us on the same 14 conditions. Our own assessment is below, without embellishment. Yours would be worth more than ours.
- Evaluate a direct collaboration. An investment, a programme, a data partnership or simply a 20-minute call. We publish the outcome only with your consent.
One rule protects both sides: a reply, a collaboration or an investment does not change any score. Only factual corrections with a source change scores, and every change is visible in the snapshots.
Open since 5 November 2026 to all 22 investors. Replies, corrections and the scores you give us are published below as they arrive.
Us, on the same 14 conditions
Our self-assessment on the radar’s general set: 7 of 14 conditions met, score 6.12. Honestly: the substance is in the method and the structure, the form we still owe is revenue, users and a team. That is precisely where an investor makes the difference. Substance being confirmed
Radar Active Explozive · 7/14 · score 6.12
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Actually used | 3 | No users or revenue yet to prove demand; it is mostly a promise. Data: Site live, free, no revenue yet. |
| C2 | Launch from strength | 6 | The launch timing says nothing special, good or bad. Data: Launched with a working product, self-funded, without investor pressure. |
| C3 | Healthy funding | 8 | Healthy funding: no investors able to flood the market. Data: No investors and no debt. |
| C4 | Attracts skilled people | 4 | Attracts few skilled people, partners or new developers. Data: Small team; we are looking for partners and builders. |
| C5 | Real customers | — | Cannot be assessed yet (for example, the asset is not publicly traded). Data: Too early: users are not yet publicly measured, so we give ourselves no score. |
| C6 | Credible team | 7 | Credible team: has delivered and has no scandals. Data: Founder with 22+ years of IT project delivery (PMP, PRINCE2). |
| C7 | Well-distributed supply | 9 | Well-distributed supply: few new shares or tokens ready to flood the market. Data: 100% founders: nobody can sell massively. |
| C8 | Organic community | — | Cannot be assessed yet (for example, the asset is not publicly traded). Data: Too early: the community is just forming, so we give ourselves no score. |
| C9 | Obvious problem | 8 | Obvious problem: explained in one sentence, and people feel it. Data: Explained in one sentence: the substance behind the price, with a source for every figure. |
| C10 | Good entry price | 9 | Good entry price: cheap versus rivals, its peak or what it produces. Data: Pre-seed stage: the best entry price. |
| C11 | Balanced media | 7 | Balanced attention: neither ignored nor in euphoria. Data: Small, balanced attention. |
| C12 | Healthy price and volume | — | Cannot be assessed yet (for example, the asset is not publicly traded). Data: Not traded: cannot be assessed. |
| C13 | Few on the same bet | 8 | Few on the same bet: still room for new buyers. Data: Few platforms publicly score every asset class, with sources. |
| C14 | Low risks | 6 | A few risks to watch, nothing serious. Data: Market rules (we give no personal advice) and dependence on one founder. |
The investors on the radar
22 international investors that have backed start-ups like ours (fintech, financial data, capital markets, financial education), scored on 14 adapted conditions with the same weights as the rest of the radar. Each score rests on public sources, listed for each investor. The scores are frozen in the snapshot of 5 November 2026 (fingerprint in the .sha256 file). “Conditions” measures how well each investor fits a start-up like ours, not how good the investor is in general.
| # | Investor | Type | Where | First cheque | Conditions | Score | Substance / form |
|---|---|---|---|---|---|---|---|
| 1 | Fil Rouge Capital | Pre-seed fund and accelerator | Zagreb; office in Bucharest | EUR 50k–350k | 12/14 | 7.28 | Substance without form |
| 2 | Seedcamp | Seed fund (first cheque) | London, New York; invests across Europe | USD 350k–1.25m | 11/14 | 7.82 | Substance confirmed |
| 3 | Bloomberg Beta | Seed fund, Bloomberg capital | San Francisco, New York | USD 250k–2m | 11/14 | 7.14 | Substance confirmed |
| 4 | Y Combinator | Accelerator | San Francisco; applications worldwide | USD 500k (standard deal) | 10/14 | 7.78 | Substance confirmed |
| 5 | Credo Ventures | CEE pre-seed fund | Prague, Krakow; CEE and diaspora | USD 1–5m | 10/14 | 7.58 | Substance without form |
| 6 | Speedinvest | Seed fund with a fintech team | Vienna; Europe including CEE | EUR 50k–1.5m | 10/14 | 7.30 | Substance without form |
| 7 | EBRD Star Venture | Support programme (advisory grant) | 26 countries, including Romania | advisory grant of up to EUR 40k | 9/14 | 7.24 | Substance without form |
| 8 | Startup Wise Guys | B2B and fintech accelerator | Tallinn; Romanian programme with the EBRD | up to EUR 65k | 9/14 | 6.96 | Substance without form |
| 9 | Inovo Venture Partners | CEE seed fund | Warsaw; CEE and diaspora | EUR 0.5–4m | 9/14 | 6.82 | Substance without form |
| 10 | QED Investors | Fintech-only fund | US, UK, Latin America, India | USD 1–3m at seed | 8/14 | 7.02 | Substance confirmed |
| 11 | Bek Ventures (formerly Earlybird Digital East) | Seed and Series A fund | Istanbul; CEE and Turkey | seed and Series A, large cheques | 7/14 | 6.74 | Substance without form |
| 12 | Point Nine | B2B and AI seed fund | Berlin; invests globally | EUR 0.5–3m | 7/14 | 6.64 | Substance confirmed |
| 13 | CommerzVentures | Fintech fund (Commerzbank capital) | Frankfurt; Europe, US, Israel, Africa | Series A and B | 7/14 | 6.52 | Substance confirmed |
| 14 | OTB Ventures | Early-growth fund | Warsaw, Luxembourg; Europe | up to USD 15m | 7/14 | 6.36 | Substance being confirmed |
| 15 | EIC Accelerator (European Commission) | EU grant and equity | EU, including Romania | grant up to EUR 2.5m; equity EUR 0.5–10m | 7/14 | 6.14 | Substance being confirmed |
| 16 | Finch Capital | Fintech fund | Amsterdam, London | EUR 2–10m | 7/14 | 6.14 | Substance being confirmed |
| 17 | Techstars | Accelerator | Global; the Anywhere programme is remote | USD 220k | 6/14 | 6.66 | Substance confirmed |
| 18 | Anthemis Group | Fintech fund | London, New York | USD 1–5m | 6/14 | 6.40 | Substance confirmed |
| 19 | DB1 Ventures (Deutsche Börse) | Corporate fund (Frankfurt exchange) | Frankfurt; Europe | EUR 5–25m | 5/14 | 6.40 | Substance being confirmed |
| 20 | 500 Emerging Europe | Pre-seed and seed fund | Poland, Romania, the Baltics, Turkey | up to EUR 1m | 4/14 | 6.32 | Substance without form |
| 21 | Nasdaq Ventures | Corporate fund (Nasdaq exchange) | New York; US and Europe | under USD 1m–10m | 4/14 | 6.30 | Substance being confirmed |
| 22 | Augmentum Fintech | Listed fintech fund, taken over in 2026 | London; UK and Europe | rounds of a few million pounds | 1/14 | 4.70 | Form without substance |
Each investor, condition by condition
Fil Rouge Capital · EUR 50k–350k · 12/14 · score 7.28 · Substance without form
A Croatian fund that officially entered Romania in 2025, with its EUR 60 million FRC3 fund and a Romanian venture partner, Matei Dumitrescu. It writes EUR 50,000–350,000 pre-seed cheques, exactly our stage, with follow-ons of up to EUR 4 million. It has no large known exits yet.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 8 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 8 | A recently closed fund with money to invest. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 7 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 7 | Has reserves and follows its companies. |
| C6 | Proven record | 5 | A few good exits. |
| C7 | Right ticket | 9 | The first cheque fits a pre-seed or seed start-up. |
| C8 | Founders come back | 7 | Founders come back, recommend it or invest in it. |
| C9 | Thesis fits | 5 | Generalist: our sector is possible, not preferred. |
| C10 | Access for us | 10 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 7 | Balanced attention. |
| C12 | Investment pace | 7 | A rising pace of new investments. |
| C13 | Crowding (inverse) | 7 | Few founders competing for the same attention. |
| C14 | Low risks | 7 | Low risks. |
Sources: Business Forum, Fil Rouge Capital intră în România; Ziarul Financiar, tichete între 50.000 și 350.000 €
Fil Rouge Capital: correct your score, score us or propose a call →
Seedcamp · USD 350k–1.25m · 11/14 · score 7.82 · Substance confirmed
First investor in Revolut and Wise and one of the first in UiPath. In June 2026 it raised USD 320 million: 220 for first cheques and 100 for follow-ons. 80 portfolio founders invested in Fund VII themselves. The minus for us: the new fund leans towards AI, deep tech and physical science, and competition for their attention is high.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 9 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 10 | A recently closed fund with money to invest. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 9 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 9 | Has reserves and follows its companies. |
| C6 | Proven record | 10 | Major exits and companies grown from the start. |
| C7 | Right ticket | 7 | The first cheque fits a pre-seed or seed start-up. |
| C8 | Founders come back | 9 | Founders come back, recommend it or invest in it. |
| C9 | Thesis fits | 5 | Generalist: our sector is possible, not preferred. |
| C10 | Access for us | 7 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 5 | Moderate attention. |
| C12 | Investment pace | 8 | A rising pace of new investments. |
| C13 | Crowding (inverse) | 4 | Very selective: acceptance below 1-2%. |
| C14 | Low risks | 8 | Low risks. |
Sources: TechCrunch, Seedcamp strânge 320 mil. $ (iunie 2026); F4 Fund, profilul Seedcamp
Bloomberg Beta · USD 250k–2m · 11/14 · score 7.14 · Substance confirmed
Bloomberg’s seed fund, created in 2013 with the stated mission of producing insights from data. It publishes its operating manual and measures itself by how founders rate it. It invested as recently as January 2026, from Fund V. The minus: it invests almost only in North America.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 8 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 7 | A recently closed fund with money to invest. |
| C3 | Fair terms | 9 | Fair, public and standard terms. |
| C4 | Network and help | 8 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 7 | Has reserves and follows its companies. |
| C6 | Proven record | 8 | Major exits and companies grown from the start. |
| C7 | Right ticket | 7 | The first cheque fits a pre-seed or seed start-up. |
| C8 | Founders come back | 8 | Founders come back, recommend it or invest in it. |
| C9 | Thesis fits | 7 | Invests exactly in fintech, financial data or education. |
| C10 | Access for us | 3 | Does not invest in our region. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 7 | A rising pace of new investments. |
| C13 | Crowding (inverse) | 5 | Moderate competition. |
| C14 | Low risks | 8 | Low risks. |
Sources: Bloomberg, Bloomberg Beta; F4 Fund, profilul Bloomberg Beta
Bloomberg Beta: correct your score, score us or propose a call →
Y Combinator · USD 500k (standard deal) · 10/14 · score 7.78 · Substance confirmed
The most powerful accelerator in the world, with Stripe and Coinbase among its alumni. It offers a public USD 500,000 standard deal and in 2026 held dedicated fintech interviews in New York. The problem is crowding: fewer than 1% of applicants get in.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 10 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 8 | A recently closed fund with money to invest. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 10 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 6 | Sometimes follows on. |
| C6 | Proven record | 10 | Major exits and companies grown from the start. |
| C7 | Right ticket | 8 | The first cheque fits a pre-seed or seed start-up. |
| C8 | Founders come back | 9 | Founders come back, recommend it or invest in it. |
| C9 | Thesis fits | 7 | Invests exactly in fintech, financial data or education. |
| C10 | Access for us | 6 | Invests in Europe, rarely in Romania. |
| C11 | Media (non-linear) | 4 | A name so famous that it draws thousands of applications. |
| C12 | Investment pace | 9 | A rising pace of new investments. |
| C13 | Crowding (inverse) | 2 | Very selective: acceptance below 1-2%. |
| C14 | Low risks | 8 | Low risks. |
Sources: The Block, YC interviuri fintech la New York (2026); Yespress, profilul Y Combinator
Y Combinator: correct your score, score us or propose a call →
Credo Ventures · USD 1–5m · 10/14 · score 7.58 · Substance without form
Led or co-led the pre-seed rounds of UiPath and ElevenLabs. Fund 5, USD 88 million, closed in March 2026 and targets 7-8 new investments a year in founders from Central and Eastern Europe. It is a generalist and prefers technical founders; the USD 1-5 million cheque is above what an early start-up needs.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 9 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 9 | A recently closed fund with money to invest. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 8 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 7 | Has reserves and follows its companies. |
| C6 | Proven record | 10 | Major exits and companies grown from the start. |
| C7 | Right ticket | 6 | The first cheque is at the upper limit of what we need. |
| C8 | Founders come back | 7 | Founders come back, recommend it or invest in it. |
| C9 | Thesis fits | 5 | Generalist: our sector is possible, not preferred. |
| C10 | Access for us | 9 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 7 | A rising pace of new investments. |
| C13 | Crowding (inverse) | 5 | Moderate competition. |
| C14 | Low risks | 8 | Low risks. |
Sources: Tech.eu, Credo Stage 5 (martie 2026); Credo Ventures
Credo Ventures: correct your score, score us or propose a call →
Speedinvest · EUR 50k–1.5m · 10/14 · score 7.30 · Substance without form
Has a dedicated fintech team and invested early in Bitpanda, an investment platform, and in Tide. It backed 233 European companies between 2011 and 2026 and made new investments as recently as July 2026. The risk to watch: in 2025 it cut its team by 10%.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 9 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 7 | A recently closed fund with money to invest. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 8 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 8 | Has reserves and follows its companies. |
| C6 | Proven record | 8 | Major exits and companies grown from the start. |
| C7 | Right ticket | 7 | The first cheque fits a pre-seed or seed start-up. |
| C8 | Founders come back | 6 | A good reputation among founders. |
| C9 | Thesis fits | 8 | Invests exactly in fintech, financial data or education. |
| C10 | Access for us | 7 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 7 | A rising pace of new investments. |
| C13 | Crowding (inverse) | 5 | Moderate competition. |
| C14 | Low risks | 6 | A few risks to watch. |
Sources: Tech.eu Funding, profilul Speedinvest; PitchBook, Speedinvest
Speedinvest: correct your score, score us or propose a call →
EBRD Star Venture · advisory grant of up to EUR 40k · 9/14 · score 7.24 · Substance without form
It takes no equity: it offers strategic advisory grants of about EUR 40,000, mentoring and access to finance. It has supported more than 550 companies, and the 2025 Romanian edition selected 5 start-ups. The EBRD also invests indirectly, through funds such as GapMinder Fund II.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 7 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 6 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 9 | Fair, public and standard terms. |
| C4 | Network and help | 8 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 5 | Sometimes follows on. |
| C6 | Proven record | 7 | Major exits and companies grown from the start. |
| C7 | Right ticket | 9 | The first cheque fits a pre-seed or seed start-up. |
| C8 | Founders come back | 6 | A good reputation among founders. |
| C9 | Thesis fits | 5 | Generalist: our sector is possible, not preferred. |
| C10 | Access for us | 9 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 7 | Balanced attention. |
| C12 | Investment pace | 6 | A steady pace. |
| C13 | Crowding (inverse) | 7 | Few founders competing for the same attention. |
| C14 | Low risks | 9 | Low risks. |
Sources: Romania Insider, EBRD Star Venture 2025; EBRD, investiția în GapMinder Fund II
EBRD Star Venture: correct your score, score us or propose a call →
Startup Wise Guys · up to EUR 65k · 9/14 · score 6.96 · Substance without form
An accelerator with a dedicated fintech programme and more than 700 investments, which launched an accelerator in Romania together with the EBRD. The small cheque fits our stage, but the terms are expensive: up to 12% of the company for about EUR 65,000 in cash and programme.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 8 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 5 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 5 | Usual terms, without special transparency. |
| C4 | Network and help | 8 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 5 | Sometimes follows on. |
| C6 | Proven record | 5 | A few good exits. |
| C7 | Right ticket | 9 | The first cheque fits a pre-seed or seed start-up. |
| C8 | Founders come back | 6 | A good reputation among founders. |
| C9 | Thesis fits | 8 | Invests exactly in fintech, financial data or education. |
| C10 | Access for us | 8 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 7 | Balanced attention. |
| C12 | Investment pace | 7 | A rising pace of new investments. |
| C13 | Crowding (inverse) | 7 | Few founders competing for the same attention. |
| C14 | Low risks | 7 | Low risks. |
Sources: The Recursive, Startup Wise Guys strânge 25 mil. €; Startup Intros, Startup Wise Guys 2026
Startup Wise Guys: correct your score, score us or propose a call →
Inovo Venture Partners · EUR 0.5–4m · 9/14 · score 6.82 · Substance without form
One of the region’s largest seed funds (EUR 105 million, 2023), with Booksy and Preply in its portfolio. It invested as recently as February 2026, but Fund III is already largely invested (28 of about 38 companies).
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 8 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 5 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 7 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 7 | Has reserves and follows its companies. |
| C6 | Proven record | 8 | Major exits and companies grown from the start. |
| C7 | Right ticket | 7 | The first cheque fits a pre-seed or seed start-up. |
| C8 | Founders come back | 7 | Founders come back, recommend it or invest in it. |
| C9 | Thesis fits | 5 | Generalist: our sector is possible, not preferred. |
| C10 | Access for us | 7 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 6 | A steady pace. |
| C13 | Crowding (inverse) | 6 | Moderate competition. |
| C14 | Low risks | 7 | Low risks. |
Sources: Tech.eu, Inovo Fund III; F4 Fund, profilul Inovo
Inovo Venture Partners: correct your score, score us or propose a call →
QED Investors · USD 1–3m at seed · 8/14 · score 7.02 · Substance confirmed
Has invested only in fintech since 2007, with more than 200 companies and 28 unicorns, including Nubank and Credit Karma. The thesis is the closest to ours, but it does not invest in Central and Eastern Europe, and seed cheques start at a million dollars.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 8 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 6 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 9 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 9 | Has reserves and follows its companies. |
| C6 | Proven record | 10 | Major exits and companies grown from the start. |
| C7 | Right ticket | 4 | The first cheque is far too large for a start-up like ours. |
| C8 | Founders come back | 8 | Founders come back, recommend it or invest in it. |
| C9 | Thesis fits | 9 | Invests exactly in fintech, financial data or education. |
| C10 | Access for us | 2 | Does not invest in our region. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 6 | A steady pace. |
| C13 | Crowding (inverse) | 4 | Very selective: acceptance below 1-2%. |
| C14 | Low risks | 8 | Low risks. |
Sources: Crowdfund Insider, QED închide aproape 1 mld. $; F4 Fund, profilul QED
QED Investors: correct your score, score us or propose a call →
Bek Ventures (formerly Earlybird Digital East) · seed and Series A, large cheques · 7/14 · score 6.74 · Substance without form
The team that invested early in UiPath, with Romanian partner Dan Lupu; its first fund returned about 20 times the money. In 2024 it rebranded as Bek Ventures and raised a USD 250 million fund. It invested in FintechOS and Payhawk, but its cheques are for companies with traction.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 6 | Invests, but at a slow or unclear pace. |
| C2 | Fresh fund available | 8 | A recently closed fund with money to invest. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 7 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 8 | Has reserves and follows its companies. |
| C6 | Proven record | 10 | Major exits and companies grown from the start. |
| C7 | Right ticket | 4 | The first cheque is far too large for a start-up like ours. |
| C8 | Founders come back | 6 | A good reputation among founders. |
| C9 | Thesis fits | 6 | Generalist: our sector is possible, not preferred. |
| C10 | Access for us | 8 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 6 | A steady pace. |
| C13 | Crowding (inverse) | 6 | Moderate competition. |
| C14 | Low risks | 7 | Low risks. |
Sources: Bloomberg, Earlybird Digital East devine Bek Ventures; The Recursive, investiții în FintechOS și Payhawk
Bek Ventures: correct your score, score us or propose a call →
Point Nine · EUR 0.5–3m · 7/14 · score 6.64 · Substance confirmed
An early investor in Revolut and Delivery Hero, known for SaaS and B2B marketplaces. In 2026 it shifted its thesis towards AI, and cheques start at EUR 500,000, above what a start-up like ours needs now.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 8 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 5 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 8 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 8 | Has reserves and follows its companies. |
| C6 | Proven record | 9 | Major exits and companies grown from the start. |
| C7 | Right ticket | 5 | The first cheque is at the upper limit of what we need. |
| C8 | Founders come back | 7 | Founders come back, recommend it or invest in it. |
| C9 | Thesis fits | 4 | Its thesis is elsewhere (for example, deep tech or defence). |
| C10 | Access for us | 5 | Invests in Europe, rarely in Romania. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 6 | A steady pace. |
| C13 | Crowding (inverse) | 5 | Moderate competition. |
| C14 | Low risks | 7 | Low risks. |
Sources: Sifted, Point Nine strânge 180 mil. €; Incubator List, Point Nine
Point Nine: correct your score, score us or propose a call →
CommerzVentures · Series A and B · 7/14 · score 6.52 · Substance confirmed
A fintech fund with EUR 550 million, an early investor in eToro and Marqeta. It invested as recently as February 2026. The thesis is very close, but it comes in at Series A and B, so only once a start-up has clear revenue.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 8 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 5 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 7 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 7 | Has reserves and follows its companies. |
| C6 | Proven record | 9 | Major exits and companies grown from the start. |
| C7 | Right ticket | 2 | The first cheque is far too large for a start-up like ours. |
| C8 | Founders come back | 6 | A good reputation among founders. |
| C9 | Thesis fits | 9 | Invests exactly in fintech, financial data or education. |
| C10 | Access for us | 4 | Does not invest in our region. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 6 | A steady pace. |
| C13 | Crowding (inverse) | 6 | Moderate competition. |
| C14 | Low risks | 7 | Low risks. |
Sources: Silicon Canals, CommerzVentures fondul III; CB Insights, CommerzVentures
CommerzVentures: correct your score, score us or propose a call →
OTB Ventures · up to USD 15m · 7/14 · score 6.36 · Substance being confirmed
Invested in Romania’s FintechOS and has a separate fund for follow-on rounds. In 2025-2026, however, it moved towards defence and sovereign AI, and it invests in companies with revenue, with large cheques.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 8 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 6 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 7 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 8 | Has reserves and follows its companies. |
| C6 | Proven record | 7 | Major exits and companies grown from the start. |
| C7 | Right ticket | 2 | The first cheque is far too large for a start-up like ours. |
| C8 | Founders come back | 6 | A good reputation among founders. |
| C9 | Thesis fits | 4 | Its thesis is elsewhere (for example, deep tech or defence). |
| C10 | Access for us | 7 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 6 | A steady pace. |
| C13 | Crowding (inverse) | 6 | Moderate competition. |
| C14 | Low risks | 7 | Low risks. |
Sources: The Recursive, OTB Growth Fund I și FintechOS; F4 Fund, profilul OTB Ventures
OTB Ventures: correct your score, score us or propose a call →
EIC Accelerator (European Commission) · grant up to EUR 2.5m; equity EUR 0.5–10m · 7/14 · score 6.14 · Substance being confirmed
The European programme that combines grants with equity investment; in February 2026 it selected 61 companies, with EUR 467 million. It has also funded Romanian start-ups. For us it is hard: the programme is for deep tech at technology readiness level 6-8, and the success rate is about 6%.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 8 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 8 | A recently closed fund with money to invest. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 6 | A useful network, without special programmes. |
| C5 | Follow-on investing | 7 | Has reserves and follows its companies. |
| C6 | Proven record | 6 | A few good exits. |
| C7 | Right ticket | 3 | The first cheque is far too large for a start-up like ours. |
| C8 | Founders come back | 5 | A good reputation among founders. |
| C9 | Thesis fits | 2 | Its thesis is elsewhere (for example, deep tech or defence). |
| C10 | Access for us | 7 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 7 | A rising pace of new investments. |
| C13 | Crowding (inverse) | 3 | Very selective: acceptance below 1-2%. |
| C14 | Low risks | 8 | Low risks. |
Sources: EIC, 61 de companii selectate (februarie 2026); Romania Insider, Amsimcel finanțat de EIC
EIC Accelerator: correct your score, score us or propose a call →
Finch Capital · EUR 2–10m · 7/14 · score 6.14 · Substance being confirmed
A fintech fund that publishes the yearly report on European fintech and invested as recently as 2026. Its EUR 150 million Europe III fund, however, comes in at Series A and B, in companies with EUR 2-5 million in revenue.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 7 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 5 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 7 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 7 | Has reserves and follows its companies. |
| C6 | Proven record | 7 | Major exits and companies grown from the start. |
| C7 | Right ticket | 2 | The first cheque is far too large for a start-up like ours. |
| C8 | Founders come back | 6 | A good reputation among founders. |
| C9 | Thesis fits | 8 | Invests exactly in fintech, financial data or education. |
| C10 | Access for us | 4 | Does not invest in our region. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 6 | A steady pace. |
| C13 | Crowding (inverse) | 6 | Moderate competition. |
| C14 | Low risks | 7 | Low risks. |
Sources: Tech.eu, Finch Capital Europe III; CB Insights, Finch Capital
Finch Capital: correct your score, score us or propose a call →
Techstars · USD 220k · 6/14 · score 6.66 · Substance confirmed
An accelerator with more than 10,000 mentors and fintech-focused programmes, including New York and London. Techstars Anywhere can be done remotely, so also from Romania. The investment is USD 220,000, for about 5% plus a SAFE. Acceptance is around 1%.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 8 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 6 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 6 | Usual terms, without special transparency. |
| C4 | Network and help | 9 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 5 | Sometimes follows on. |
| C6 | Proven record | 7 | Major exits and companies grown from the start. |
| C7 | Right ticket | 8 | The first cheque fits a pre-seed or seed start-up. |
| C8 | Founders come back | 7 | Founders come back, recommend it or invest in it. |
| C9 | Thesis fits | 6 | Generalist: our sector is possible, not preferred. |
| C10 | Access for us | 7 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 6 | A steady pace. |
| C13 | Crowding (inverse) | 3 | Very selective: acceptance below 1-2%. |
| C14 | Low risks | 6 | A few risks to watch. |
Sources: Techstars, termenii investiției; Startup Intros, Techstars Anywhere toamna 2026
Anthemis Group · USD 1–5m · 6/14 · score 6.40 · Substance confirmed
Considered the first fund dedicated to fintech, an early investor in Betterment, and with the largest fund for women-founded fintech. It made 7 investments in 2025, but has broadened its thesis towards climate, health and AI, and its last large fund dates from 2021.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 7 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 5 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 8 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 7 | Has reserves and follows its companies. |
| C6 | Proven record | 7 | Major exits and companies grown from the start. |
| C7 | Right ticket | 6 | The first cheque is at the upper limit of what we need. |
| C8 | Founders come back | 6 | A good reputation among founders. |
| C9 | Thesis fits | 8 | Invests exactly in fintech, financial data or education. |
| C10 | Access for us | 4 | Does not invest in our region. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 5 | A steady pace. |
| C13 | Crowding (inverse) | 6 | Moderate competition. |
| C14 | Low risks | 6 | A few risks to watch. |
Sources: F4 Fund, profilul Anthemis; Finextra, Anthemis strânge 700 mil. $
Anthemis Group: correct your score, score us or propose a call →
DB1 Ventures (Deutsche Börse) · EUR 5–25m · 5/14 · score 6.40 · Substance being confirmed
Deutsche Börse’s investment arm, with EUR 400 million, focused on capital-markets infrastructure. In April 2026 it invested in Performativ, an investment-management platform. The theme fits, but the EUR 5 million minimum cheque is for mature companies.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 8 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 6 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 6 | Usual terms, without special transparency. |
| C4 | Network and help | 8 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 6 | Sometimes follows on. |
| C6 | Proven record | 7 | Major exits and companies grown from the start. |
| C7 | Right ticket | 1 | The first cheque is far too large for a start-up like ours. |
| C8 | Founders come back | 5 | A good reputation among founders. |
| C9 | Thesis fits | 9 | Invests exactly in fintech, financial data or education. |
| C10 | Access for us | 5 | Invests in Europe, rarely in Romania. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 6 | A steady pace. |
| C13 | Crowding (inverse) | 6 | Moderate competition. |
| C14 | Low risks | 8 | Low risks. |
Sources: Deutsche Börse, DB1 Ventures; Deutsche Börse, investiția în Performativ (aprilie 2026)
DB1 Ventures: correct your score, score us or propose a call →
500 Emerging Europe · up to EUR 1m · 4/14 · score 6.32 · Substance without form
The regional arm of 500 Global, with Romania among its priority markets and cheques of up to EUR 1 million for 5-10% of the company. Fund II dates from 2022, and we found little public information about recent investments, so the activity scores are cautious.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 6 | Invests, but at a slow or unclear pace. |
| C2 | Fresh fund available | 5 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 7 | Fair, public and standard terms. |
| C4 | Network and help | 8 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 6 | Sometimes follows on. |
| C6 | Proven record | 6 | A few good exits. |
| C7 | Right ticket | 8 | The first cheque fits a pre-seed or seed start-up. |
| C8 | Founders come back | 6 | A good reputation among founders. |
| C9 | Thesis fits | 5 | Generalist: our sector is possible, not preferred. |
| C10 | Access for us | 8 | Invests in Romania or CEE, with open applications. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 5 | A steady pace. |
| C13 | Crowding (inverse) | 6 | Moderate competition. |
| C14 | Low risks | 6 | A few risks to watch. |
Sources: InforCapital, 500 Emerging Europe Fund II; Seedtable, 500 Emerging Europe
500 Emerging Europe: correct your score, score us or propose a call →
Nasdaq Ventures · under USD 1m–10m · 4/14 · score 6.30 · Substance being confirmed
The investment arm of the Nasdaq exchange, focused on market data, analytics and market infrastructure. In 2025 it invested in Juniper Square and led FinCom’s Series B. The theme matches our radar, but its average investment is around USD 5 million.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 7 | Invests actively: new deals in the last 12 months. |
| C2 | Fresh fund available | 6 | A fund still deploying, without fresh capital. |
| C3 | Fair terms | 6 | Usual terms, without special transparency. |
| C4 | Network and help | 8 | A strong network: mentors, co-investors, customers. |
| C5 | Follow-on investing | 6 | Sometimes follows on. |
| C6 | Proven record | 6 | A few good exits. |
| C7 | Right ticket | 5 | The first cheque is at the upper limit of what we need. |
| C8 | Founders come back | 5 | A good reputation among founders. |
| C9 | Thesis fits | 8 | Invests exactly in fintech, financial data or education. |
| C10 | Access for us | 4 | Does not invest in our region. |
| C11 | Media (non-linear) | 6 | Moderate attention. |
| C12 | Investment pace | 5 | A steady pace. |
| C13 | Crowding (inverse) | 6 | Moderate competition. |
| C14 | Low risks | 8 | Low risks. |
Sources: CB Insights, Nasdaq Ventures; Finviz, investiția în Juniper Square
Nasdaq Ventures: correct your score, score us or propose a call →
Augmentum Fintech · rounds of a few million pounds · 1/14 · score 4.70 · Form without substance
The only fintech fund listed in London, with investments in Tide and Gemini, which in 2025 led a GBP 4.5 million round in the investment platform RetailBook. In May 2026 it was taken over by Frontier Bidco for GBP 185.7 million, and its strategy after the takeover is not yet clear. It is on the list as an example of an investor whose thesis fits but who is uncertain now.
| # | Condition | Score | In plain words |
|---|---|---|---|
| C1 | Really invests | 4 | No new investments announced recently. |
| C2 | Fresh fund available | 2 | Old fund, mostly invested. |
| C3 | Fair terms | 6 | Usual terms, without special transparency. |
| C4 | Network and help | 6 | A useful network, without special programmes. |
| C5 | Follow-on investing | 5 | Sometimes follows on. |
| C6 | Proven record | 6 | A few good exits. |
| C7 | Right ticket | 4 | The first cheque is far too large for a start-up like ours. |
| C8 | Founders come back | 5 | A good reputation among founders. |
| C9 | Thesis fits | 8 | Invests exactly in fintech, financial data or education. |
| C10 | Access for us | 4 | Does not invest in our region. |
| C11 | Media (non-linear) | 5 | Moderate attention. |
| C12 | Investment pace | 3 | Fewer and fewer new investments. |
| C13 | Crowding (inverse) | 6 | Moderate competition. |
| C14 | Low risks | 3 | High risks: change of control, restructuring or a fund near its end. |
Sources: LSE, Frontier Bidco finalizează preluarea Augmentum; Cision, raportul anual Augmentum 2025
Augmentum Fintech: correct your score, score us or propose a call →
The investors’ replies
We publish the replies we receive here, with the senders’ consent, together with the corrections made at their request. The invitation has been open since 5 November 2026.
The data behind the scores
What the analysis shows
Fil Rouge Capital fits best (12 of 14 conditions). Investors with both a cheque that fits our stage and real access from Romania: Fil Rouge Capital, Seedcamp, Speedinvest, EBRD Star Venture, Startup Wise Guys, Inovo Venture Partners, Techstars, 500 Emerging Europe. The funds whose thesis is closest to ours (fintech, financial data, capital markets) are Speedinvest, Startup Wise Guys, QED Investors, CommerzVentures, Finch Capital, Anthemis Group, DB1 Ventures, Nasdaq Ventures, Augmentum Fintech, but most of them come in only once a company has revenue, or do not invest in our region. The practical order is therefore: first the pre-seed funds and programmes active in Romania, then the large seed funds, and the fintech specialists after the first revenue.
The list shows fit on public sources, not an agreement: none of these investors has assessed us or promised to invest. This is not investment advice.
How we apply the 14 conditions in this domain
The same algorithm as for crypto, companies and commodities: each condition gets a score from 0 to 10 and is met from 7. The weights are identical in every domain; only what we measure in practice changes.
| # | Condition | What we measure | Weight |
|---|---|---|---|
| C1 | Really invests | New investments announced in the last 12 months, not just a fund on paper. | 16% |
| C2 | Fresh fund available | A recently closed fund with money still to invest. | 6% |
| C3 | Fair terms | Public, standard terms, no aggressive structures for founders. | 6% |
| C4 | Network and help | Mentors, co-investors and access to customers, not just money. | 8% |
| C5 | Follow-on investing | Reserves for later rounds: stays with its portfolio. | 6% |
| C6 | Proven record | Exits and large companies grown from the start. | 8% |
| C7 | Right ticket | The first cheque fits a pre-seed or seed start-up (up to about EUR 1.5 million). | 8% |
| C8 | Founders come back | Portfolio founders recommend it or invest in its funds themselves. | 4% |
| C9 | Thesis fits | Invests in fintech, financial data, capital markets or financial education. | 6% |
| C10 | Access for us | Invests in Romania or Central and Eastern Europe, with open applications. | 6% |
| C11 | Media (non-linear) | Balanced attention; a very famous name draws thousands of applications. | 6% |
| C12 | Investment pace | The number of new investments is rising or steady. | 6% |
| C13 | Crowding (inverse) | How many founders compete for the same attention: the acceptance rate. | 6% |
| C14 | Low risks | No restructuring, change of control, scandals or a fund near its end. | 8% |
Questions about the reasoning
Do you disagree with a score, or want to know why an asset is where it is? Ask. We answer with the weekly update, with sources, by email and, if you agree, here on the page.
Answered questions
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Sources
The sources will be listed here together with the data.