MiddleGame Ventures

MiddleGame Ventures is a venture capital firm founded in 2017, with offices in Washington, D.C. and Luxembourg City. The firm specializes in investing in early-stage and late seed companies, primarily in the fintech sector. It focuses on businesses that are transforming financial services from analog to digital and from centralized to decentralized models. MiddleGame Ventures emphasizes investment in areas such as middleware solutions, artificial intelligence, big data, blockchain, and crypto-enabled infrastructure. The firm aims to partner with entrepreneurial teams that are rearchitecting financial services infrastructure, with a particular interest in sectors like core banking, insurance risk management, and regulatory compliance. Its investment activities are primarily concentrated in the European Union and North America.

William Kotto

CFO

Mia Lewis

Associate

Ellen McCance

Venture Partner

Patrick Pinschmidt

General Partner and Co-Founder

Kanishk Walia

Partner

34 past transactions

Cloud Capital

Seed Round in 2025
CloudCapital manages cloud costs and invests in tech companies using AI and ML.

Fundcraft

Series A in 2024
The fundcraft team has created a platform that centralizes, coordinates, and gradually automates all fund activities, including transfer agency, accounting, portfolio and risk management, and compliance, among others.

Trustap

Series A in 2024
Trustap Ltd is a transaction platform based in Carrigaline, Ireland, founded in 2016. It offers a personal escrow service designed to safeguard both buyers and sellers during online or in-person transactions with strangers. By acting as a third party, Trustap ensures that funds are securely held until both parties are satisfied with the transaction and all conditions are met. This approach helps prevent scams and provides users with a reliable means of conducting digital payments, fostering a safer marketplace for transactions between unknown parties.

Ctrl Alt

Seed Round in 2023
Ctrl Alt, founded in 2020 by Matt Ong, aims to democratize access to alternative investments for individual investors. The company offers a platform that facilitates investment in tokenized assets such as green energy and real estate, catering to the needs of both fintechs and investment platforms. By allowing asset holders to fractionalize their assets, Ctrl Alt helps them raise capital while providing investors with opportunities that were once limited to the wealthiest individuals. Operating under the regulations of the Financial Conduct Authority, the platform emphasizes simplicity, transparency, and security in the investment process. With a team based in London and Dundalk, Ireland, Ctrl Alt combines financial expertise from institutions like Morgan Stanley and Credit Suisse with innovative technology to enhance the investment landscape.

One Trading

Series A in 2023
One Trading operates as an institutional-grade spot exchange for digital assets, catering to both retail and institutional investors. The company holds a Virtual Asset Service Provider (VASP) license in Italy and is in the process of applying for a MiFID II license to expand its offerings to regulated crypto derivatives. Its trading platform, developed in partnership with AWS, provides users with advanced features including market data, charting tools, and efficient order execution, enhancing the trading experience. As one of the fastest digital asset trading venues in the market, One Trading aims to facilitate effective trading for its clients.

Outmin

Seed Round in 2023
Outmin is a real-time accounting solution designed for small and medium-sized enterprises (SMEs). Founded by David Kelleher and Ross Hunt, the company has successfully secured over 60 clients since its inception. Outmin offers a range of outsourced accounting and bookkeeping services, leveraging artificial intelligence to deliver real-time financial data. The company’s services include payroll management, accounting management, bookkeeping, tax compliance, tax credit management, and company secretarial and formation support. By modernizing the accounting process, Outmin aims to help clients streamline their financial operations and improve their overall financial management.

Trustap

Funding Round in 2023
Trustap Ltd is a transaction platform based in Carrigaline, Ireland, founded in 2016. It offers a personal escrow service designed to safeguard both buyers and sellers during online or in-person transactions with strangers. By acting as a third party, Trustap ensures that funds are securely held until both parties are satisfied with the transaction and all conditions are met. This approach helps prevent scams and provides users with a reliable means of conducting digital payments, fostering a safer marketplace for transactions between unknown parties.

Finoa

Funding Round in 2023
Finoa GmbH, founded in 2018 and based in Potsdam, Germany, provides regulated custody and asset-servicing solutions for digital assets. The company operates a digital asset platform that allows institutional investors and corporations to securely store and manage cryptographic tokens. Finoa's services include custody and staking, designed to accommodate users of varying familiarity with cryptocurrencies. The platform features advanced security measures such as multi-signature processing, biometric fingerprint access, and cryptographically secured private keys. As a qualified custodian supervised by the German Federal Financial Supervisory Authority, Finoa serves a diverse clientele, including venture capital firms, large corporations, and financial institutions, ensuring the safe and intuitive management of digital assets. The company is co-founded by Christopher May and Henrik Gebbing and is supported by several prominent financial investors.

KeyRock

Series B in 2022
Keyrock is a company that specializes in developing financial infrastructure for crypto assets. Founded in 2017 by Jeremy De Groodt, Juan David Mendieta, and Kevin de Patoul, the firm is headquartered in Woluwe-Saint-Pierre, Belgium. Keyrock employs in-house algorithmic trading bots and high-frequency trading infrastructure to offer market-making and liquidity services, aimed at enhancing the efficiency of cryptocurrency exchanges and brokerages. Its services encompass order book replication, trade execution, and spot execution, all designed to democratize access to cryptocurrency liquidity within the ecosystem.

NoFrixion

Seed Round in 2022
NoFrixion operates a money management and payment services platform designed to enhance payment processes. The company provides an embedded payments API that integrates seamlessly into business applications, facilitating payroll payments and enabling decentralized digital currency exchanges. This allows clients to efficiently pay suppliers and manage refunds directly from their accounting systems, streamlining financial transactions and improving overall payment efficiency. With a focus on innovation in financial services, NoFrixion aims to simplify and modernize the way businesses handle payments.

&open

Series A in 2022
&Open is a gifting platform that facilitates the sending of digital and physical gifts from brands to individuals globally. The platform is designed to enhance customer loyalty, retention, and engagement across various teams, including sales, marketing, and customer experience. It offers tools for branded communication, integrates seamlessly into existing workflows, and provides impact tracking to help brands measure effectiveness. By streamlining the gifting process, &Open enables brands to foster stronger connections with their customers and drive advocacy.

Next Gate Tech

Series A in 2022
Next Gate Tech SA specializes in providing software-as-a-service automation solutions tailored for the asset management industry. Founded in 2015 and based in Luxembourg City, the company leverages cloud technology to consolidate data from various unstructured sources into a single, consistent platform. This approach allows clients to streamline their middle and back-office operations, enhancing efficiency while reducing risks associated with multiple legacy systems. The platform features analytics tools that support automated oversight in areas such as Net Asset Value (NAV), risk management, and environmental, social, and governance (ESG) compliance. By focusing on data harmonization, Next Gate Tech empowers firms to manage governance and controls effectively, ultimately optimizing their operations and lowering technology and manual costs.

Circit

Series A in 2022
Circit Limited is a Dublin-based company that specializes in a financial audit management platform designed to facilitate communication and information sharing among auditors, banks, and clients. Founded in 2015, Circit's platform streamlines the audit process by allowing users to create requests, monitor client authorizations, and receive auditor responses in real time. The platform supports direct messaging and collaboration between clients and their banking partners, along with enabling digital authorization of auditor request letters. By establishing a network of validated professional and financial service firms, Circit enhances the security and efficiency of document and data transfers during audits. The company, recognized as a High-Potential Startup by Enterprise Ireland, has received government funding and backing from professional investors, with its founders bringing over 50 years of experience in financial auditing, banking operations, and software engineering to the venture.

Conjura

Series A in 2022
Conjura is a London-based company established in November 2016, specializing in e-commerce data analytics software aimed at enhancing performance for consumer brands. The platform integrates data science, company reporting, and benchmarking to provide a comprehensive view of an organization's operations, enabling businesses to assess their performance against industry standards. Conjura's software employs advanced artificial intelligence and machine learning algorithms to integrate and analyze data, facilitating data-driven decision-making through intuitive dashboards and actionable insights. This approach allows clients to identify strengths, challenges, and growth opportunities while receiving immediate feedback on lead quality and customer acquisition strategies. By seamlessly connecting with top e-commerce tools and platforms, Conjura offers a scalable data infrastructure to support organizations in optimizing their operations.

Blockpit

Series A in 2021
Blockpit is a company that offers a tax reporting and portfolio monitoring platform aimed at simplifying tax filing for cryptocurrency traders. Its solution is designed for both individual traders and businesses, addressing the complexities of tracking taxable income from crypto transactions. The platform automatically records all sources of income, ensuring that users can maintain an accurate log of every transaction, which is crucial for tax compliance. By providing real-time tax calculations and generating legally compliant reports, Blockpit enables users to easily track their investments and understand their taxable profits. This functionality is particularly valuable given the challenges traders face in keeping up with the tax implications of frequent transactions, including the valuation of exchanges between cryptocurrencies. Overall, Blockpit's software helps users manage their portfolios effectively while facilitating the necessary documentation for tax reporting.

Payslip

Series A in 2021
Payslip Ltd. specializes in payroll management software tailored for multinational enterprises. Founded in 2016 and headquartered in Westport, Ireland, with an office in Providence, Rhode Island, the company offers a Global Payroll Control Platform that standardizes and automates payroll operations across multiple countries. This platform includes features such as a Global Payroll Manager for overseeing payroll activities, an Employee Portal for self-service access by various staff categories, and robust reporting tools. Additionally, Payslip addresses General Data Protection Regulation (GDPR) compliance by providing tools that help manage personal data. Their technology is designed to streamline payroll processes, enhance operational efficiency, and support businesses in scaling their workforce across different regions while maintaining control over local payroll providers and service level agreements. Notable clients include Cloudera and GoTo, who have adopted Payslip to optimize their global payroll management.

Capdesk

Series A in 2021
Capdesk ApS operates an equity management platform that aids companies and investors in managing shares and shareholder information. Founded in 2015 and based in Copenhagen, Denmark, with an additional office in London, the platform is designed for companies not listed on the stock exchange, enabling them to administer shares and streamline processes related to shareholder management. Capdesk facilitates the efficient management of cap tables, shareholder registers, and employee shares, allowing businesses to focus on core operations by reducing administrative burdens. It automates updates to cap tables and statutory registers while providing digital solutions for share issuance, transfers, and other equity transactions. By consolidating equity information, Capdesk enhances stakeholder alignment by offering easy access to ownership details, share certificates, option vesting schedules, investment amounts, and current valuations.

Minna Technologies

Series B in 2021
Minna Technologies specializes in subscription management services that connect banks and fintech companies with subscription businesses. The company offers applications that help consumers manage their subscriptions by identifying active services and providing options to switch to more affordable alternatives or cancel them altogether. These applications also facilitate the comparison and switching of energy, mobile, and broadband services. Through its solutions, Minna Technologies aims to simplify the process of managing monthly payments for subscriptions and memberships, ensuring a reliable and secure user experience.

Railsr

Private Equity Round in 2020
Railsr is a financial services company that focuses on enhancing digital transactions for banks and corporate clients. The company offers a platform that simplifies the onboarding process and provides various services, including the creation of digital ledgers, linking these ledgers to bank accounts, and facilitating the sending, receiving, and converting of money. Additionally, Railsr enables the issuance of cards and management of credit through its API, ensuring that financial transactions are conducted efficiently and in compliance with regulations. By making financial services more accessible, Railsr aims to improve the global finance experience for its users.

KeyRock

Series A in 2020
Keyrock is a company that specializes in developing financial infrastructure for crypto assets. Founded in 2017 by Jeremy De Groodt, Juan David Mendieta, and Kevin de Patoul, the firm is headquartered in Woluwe-Saint-Pierre, Belgium. Keyrock employs in-house algorithmic trading bots and high-frequency trading infrastructure to offer market-making and liquidity services, aimed at enhancing the efficiency of cryptocurrency exchanges and brokerages. Its services encompass order book replication, trade execution, and spot execution, all designed to democratize access to cryptocurrency liquidity within the ecosystem.

Wayflyer

Seed Round in 2020
Wayflyer is a Dublin-based revenue-based financing platform tailored for e-commerce brands. It offers quick and cost-effective funding solutions designed to facilitate business growth while simplifying financial processes. In addition to funding, Wayflyer provides free marketing analytics through its underwriting engine, which evaluates marketing performance daily. This analytics platform generates detailed recommendations that help clients optimize their campaign budgets, ultimately enhancing their overall performance and growth potential.

Coinfirm

Series A in 2020
Coinfirm Limited is a London-based company that specializes in blockchain verification and compliance solutions. Founded in 2016, it focuses on enhancing the safety of the blockchain economy by providing analytics and forensic investigations to protect businesses from engaging with counterparties involved in illicit activities such as money laundering and fraud. Coinfirm's platform offers extensive coverage, supporting over one million cryptocurrencies and protocols across 66 blockchains. Its services include risk assessment, compliance monitoring, business intelligence, and API solutions, making it a valuable resource for financial institutions, regulatory bodies, and virtual asset service providers. The company has established a strategic partnership with SEI Wealth Platform to further its reach and influence in the industry.

Next Gate Tech

Seed Round in 2020
Next Gate Tech SA specializes in providing software-as-a-service automation solutions tailored for the asset management industry. Founded in 2015 and based in Luxembourg City, the company leverages cloud technology to consolidate data from various unstructured sources into a single, consistent platform. This approach allows clients to streamline their middle and back-office operations, enhancing efficiency while reducing risks associated with multiple legacy systems. The platform features analytics tools that support automated oversight in areas such as Net Asset Value (NAV), risk management, and environmental, social, and governance (ESG) compliance. By focusing on data harmonization, Next Gate Tech empowers firms to manage governance and controls effectively, ultimately optimizing their operations and lowering technology and manual costs.

Gardenia Technologies

Seed Round in 2019
Gardenia Technologies Ltd is an enterprise software company based in London, United Kingdom, established in 2016. It specializes in providing cloud-based software solutions focused on working capital analytics and liquidity management for businesses. The company offers a proprietary platform that utilizes advanced analytics to collect and process data from various business systems, enabling clients to identify opportunities for improvement in cash flow, profitability, and sustainability. Gardenia's real-time analytics facilitate the optimization of financial operations, allowing enterprises to address issues such as missed discounts and payment timing. By delivering insights into operational efficiency and financing options, Gardenia Technologies supports businesses in enhancing their financial performance and growth potential.

Nivaura

Seed Round in 2019
Nivaura Ltd is a financial technology company based in Ilford, United Kingdom, established in 2016. The company operates a blockchain-based platform that automates the issuance and administration of financial products, including loans, bonds, and structured notes. Nivaura's technology enhances efficiency, accuracy, and transparency in key processes associated with new financial instruments, thereby enabling banks, brokers, exchanges, and funds to streamline operations. By focusing on compliance and improving client experiences, Nivaura aims to make financial services more accessible and efficient.

Cybertonica

Grant in 2018
Cybertonica is a company that specializes in fraud prevention and risk management for digital payments through its cloud-based software. Utilizing machine learning and artificial intelligence, Cybertonica's solutions enhance transaction security while facilitating a frictionless experience for users. The software aims to reduce basket drop-off rates and improve conversion rates across various e-payment channels, benefiting merchants, payment service providers, and financial institutions. Cybertonica's offerings are designed to comply with industry standards, including PSD2 and GDPR, ensuring secure transactions. With innovative products like ScreenWiZe™, which adds device risk management to mobile authentication, the company strives to foster trust in transactions, aiming for a 99.9% trust level in digital transactions. Cybertonica has received multiple awards for its contributions to the payments industry, highlighting its commitment to advancing the field of payment security and fraud prevention.

Railsr

Convertible Note in 2018
Railsr is a financial services company that focuses on enhancing digital transactions for banks and corporate clients. The company offers a platform that simplifies the onboarding process and provides various services, including the creation of digital ledgers, linking these ledgers to bank accounts, and facilitating the sending, receiving, and converting of money. Additionally, Railsr enables the issuance of cards and management of credit through its API, ensuring that financial transactions are conducted efficiently and in compliance with regulations. By making financial services more accessible, Railsr aims to improve the global finance experience for its users.

CoVi Analytics

Seed Round in 2018
CoVi Analytics develops productivity solutions that integrate operational information with big data, aimed at simplifying business activities and automating operations. The company operates a regulatory compliance platform designed for compliance teams, consultants, and regulators to effectively navigate and manage regulatory text. This platform enables insurers to interpret regulatory requirements, document and evidence compliance activities, and generate necessary reports for oversight authorities. By providing analytical insights into regulatory responses, CoVi Analytics helps users reduce compliance costs and enhance the speed of business decision-making.
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