While Charlotte has historically been touted as the banking hub of America, many still view this Southern city as one that lacks capital venture opportunity within the fintech space. But the reality is the Queen City plays host to a wealth of talented entrepreneurs that are making worthwhile breakthroughs in financial technology.
In an effort to position the Carolinas as a global fintech destination, Carolinas Fintech Ventures (CFV) is working tirelessly to foster collaboration between the region’s entrepreneurial talent, its investors, and mentors to redefine the South’s role in the fintech industry at large.
A Community of Collaboration in the Carolinas
CFV founders, Dan Roselli and Nat Clarkson, have worked hard to connect a community of like-minded fintech entrepreneurs.
“Ten years ago, when we had the idea of buying an empty downtown office building in the middle of a recession, people thought we were out of our minds,” Roselli recalls. “But we saw an opportunity in Charlotte’s ecosystem that very few people realized at the time.”
As others asserted that there were no capital ventures available in Charlotte, Roselli and Clarkson knew the opposite to be true. What was lacking weren’t valuable prospects, but rather the resources necessary to innovate and collaborate in ways that would attract investors to take a chance on entrepreneurs.
“I think collaboration is important because there’s a recognition that we are in Charlotte and not in New York or San Francisco,” explains Clarkson. “When you’re not in one of the top five markets in the world, you have to collaborate to survive. We believe that by focusing on this collaboration piece, we can be one of the top markets in the world in fintech.”
But collaboration is just one part of what makes CFV uniquely capable of growing and enhancing the fintech community. The organization also provides a wide range of ongoing support to both regional and international entrepreneurs to further bolster the Carolinas’ fintech industry.
Supporting Fintech Entrepreneurs Globally & Regionally
When CFV started in 2017, it was a general tech accelerator that quickly morphed into more fintech-specific applications.
“We wanted to differentiate ourselves by playing in an area where we had some expertise at an international level,” says Clarkson. “Our investment thesis centers around investing in deals where we have a lot of knowledge and confidence that the companies are going to be successful.”
The organization carefully vets viable fintech companies through an intensive pitching and selection process. To date, CFV boasts more than 300 subject-matter experts and mentors that advise companies on how to succeed. Following a detailed matching process, companies receive between three and 10 advisory board members to help fintech entrepreneurs build a path to strategic growth.
“We basically took the DNA of Charlotte’s entrepreneurial ecosystem and turned it into a strategic asset for the fund,” explains Roselli. “Now, CFV is an anchor partner in Charlotte for the Global Fintech Hubs Federation, which is a global consortium of fintech companies across the world.”
Informing the Future of Fintech
As CFV looks to the future of fintech in the Carolinas, the organization is continuing its efforts to connect entrepreneurs and investors at the international level.
“Hopefully by the end of the year, we’ll have Asia, North and South America, Europe, and Australia added to our network,” says Clarkson.
In addition to global exposure, CFV further bolsters the Carolinas’ fintech community through programs like the annual Venture 135 Summit.
"It's the largest fintech venture event outside of New York City and San Francisco," says Roselli. “Last year, we had over 75 venture firms in attendance, which is a real game-changer for Charlotte. We’re really changing how Charlotte is perceived as a venture capital community.”
