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VEF

Venture capital

Stockholm · Seed–Growth · 7 people tracked

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Investment thesis

VEF invests in fintech businesses across emerging markets, backing companies that expand access to financial services in these regions.

Source: firm website, verified Aug 3, 2026.

Stage
Seed–Growth
HQ
Stockholm, SE
Leads rounds
Leads
Instruments
Equity
Tracked investments
11
Unicorns
1
IPOs
1

Team · 7 people

from the firm's website

What they invest in

from 10 of 11 portfolio companies

Fintech ×9SaaS ×5Consumer ×2HR Tech ×2B2B Marketplaces ×1Cleantech ×1E-commerce ×1Energy ×1

HQs:Brazil×3India×3Pakistan×2Türkiye×1United States×1

Who they back

founder profiles across 5 portfolio companies

Accelerator rootsportfolio companies that came through a program

Y Combinator ×2

Investments · 11 tracked

founders shown can be your intro path

By year:2023 · 12022 · 12021 · 24 dated

Abhiabhi.com.pkin𝕏Seed

ABHI creates financial products designed for consumers in Pakistan.

FintechHR TechSaaSKarachi, PK

Omair Ansari(Founder)inAli Ladhubhai(Founder)inOmair Ansari Ali Ladhubhai(Founder)

Co-investorsY CombinatorAlter GlobalAmaana CapitalBOD TECH CO.Capria VenturesD4 Ventures+29 more

BlackBuckblackbuck.cominJul 2021

BlackBuck operates a technology platform for the trucking industry.

B2B MarketplacesLogistics & Supply ChainSaaSBangalore, IN

Rajesh Yabaji(Founder)inChanakya HRidaya(Executive Director and COO)inRamasubramaniam B(Founder)inSatyakam G N(Chief Financial Officer)inChanakya Hridaya(Founder)Ramasubramanian B(Founder)

Co-investorsAccelB Capital GroupB4 CapitalEvolution VC PartnersPay It Forward - PIFPeak XV Partners+14 more

FinanZerofinanzero.com.brinApr 2021 · $7M

FinanZero is a Brazilian fintech operating since 2016 that runs an online loan comparison marketplace, letting consumers submit a single application and receive up to 10 pre-approved credit offers from partner financial institutions.

FintechMarketplacesSão Paulo, BR

Olle Widén(Founder)in

Co-investorsZentro Founders

Gringogringo.com.vcinSep 2023 · $30M

Gringo operates a mobile "Super App" for Brazilian drivers to consult and pay vehicle-related debts such as IPVA, fines, and licensing, issue digital vehicle documents, track license points, and manage due-date reminders.

ConsumerFintechMobility & TransportationSão Paulo, BR

Juliano Dutra(Founder)in

Co-investorsKaszek VenturesOnevc Venture Partners LlcValor Capital GroupActyusICU Ventures

iyzicoiyzico.comin𝕏

iyzico provides online payment infrastructure for both buyers and merchants, enabling businesses to accept payments and offering consumers secure checkout with a "Pay with iyzico" option and campaigns.

E-commerceFintechSaaS

Barbaros Ozbugutu(Founder)Tahsin Isin(Founder)

Co-investorsHansmann Family Office212International Finance CorporationProsus VenturesSpeedinvest

Juspayjuspay.ioin𝕏

Juspay provides payment orchestration software and SDKs for enterprises, handling global payment coverage, conversion optimization, and fraud reduction.

Enterprise SoftwareFintechSaaSBangalore, IN

Vimal Kumar(Founder)inSheetal Lalwani(Founder)inMagizhan Selvan(Founder)Ramanathan RV(Founder)

Co-investorsWestBridge CapitalAccelNewRadioVentureSoftBank Vision FundSoftBank Group

Mahaana Wealthmahaana.comin𝕏

Mahaana is a fintech platform that helps Pakistanis save and invest through tools like automated savings features, retirement planning, and investment funds.

FintechSaaSKarachi, PK

Muhammad Shamoon Tariq(Founder)inShamoon

Co-investorsY CombinatorSparkLabs Korea

Minuminu.mxin𝕏

minu offers a workplace benefits platform for companies in Mexico, letting HR teams activate over 50 employee benefits such as on-demand salary (earned wage access), savings, food vouchers, loans, telemedicine, and financial education.

FintechFuture of WorkHR TechPalos Verdes Estates, US

Adam Guggenheim(Executive Officer, Director)inChristine Koppinger(Executive Officer, Director)in

Co-investors500 GlobalAccial CapitalCapria VenturesCats.vcClocktower VenturesFJ Labs+14 more

Rupeekrupeek.comin𝕏

Rupeek provides online gold loans in India, offering low-interest loans against gold with door-to-door pickup and return of valuables.

ConsumerFintech

Sumit Maniyar(Founder)in

Co-investorsAccelSequoia Capital9Unicorns Accelerator FundBetter CapitalBlackSoilElevation Capital+8 more

Solfácilsolfacil.com.brinMay 2022

Solfácil is a Brazilian solar energy company that provides financing, photovoltaic equipment distribution, and technology tools for solar installers across the country.

CleantechEnergyFintech

Fabio Carrara(Founder)inVitor Leal(Founder)Guillaume Tiret(Founder)

Co-investorsQED InvestorsSoftbank Latin America FundValor Capital GroupFifth WallSoftBank Group

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

Tinkoff Group Holding (TCS)

Portfolio news

latest coverage across their companies
Juspay Raises $50M Series D

Juspay · thesaasnews.com · Aug 13, 2026

Frequently asked questions

How many investments has VEF made?
VEF has 11 tracked investments, 1 of which have exited.
What stage does VEF invest at?
VEF invests at the Seed, Growth stages.
What sectors does VEF focus on?
VEF focuses on Fintech.
Where is VEF located?
VEF is headquartered in Stockholm, SE.
Does VEF lead rounds?
Yes, VEF leads investment rounds.
Who does VEF co-invest with?
VEF most often shares deals with Accel, FJ Labs, Peak XV Partners, among 53 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Satsar (nästan) allt på TRE bolag - David Nangle, VD VEF - Sparpodden 516

Nordnet Sverige · David Nangle

David Nangle, how do Creditas and Konfio contribute to VEF's success in volatile times? A talk

Good Investing Talks · David Nangle

Images

VEF photoVEF photo

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