Long regarded as a megatrend by Citi Ventures, democratization — broader and easier access to financial services — is bearing fruit as an investment theme, says Vanessa Colella, global head of venture investing and strategic growth initiatives for Citigroup’s technology accelerator and fintech fund. With technology increasingly economical and accessible to new markets and underserved populations, “there is a much higher degree of trust, and therefore acceptance, by consumers and small-business owners,” says Colella, 46, a onetime biology teacher who worked at McKinsey & Co., Yahoo!, and Citi’s North American consumer bank before joining Citi Ventures in 2013. “They’re getting accustomed to interacting with highly bespoke financial services in a much more automated way.” Portfolio companies of Palo Alto, California–based Citi Ventures, which was started in 2010 by its CEO, Citigroup chief innovation officer Deborah Hopkins, reflect democratization trends; they include online wealth management pioneer Betterment, mobile payments company Square, and brokerage app developer Trade It. BlueVine Capital provides business lines of credit and invoice factoring, C2FO addresses working capital needs, and a recent portfolio addition, FastPay Partners, finances receivables for digital enterprises. “We’re looking at this specific sector of payment and at how to use some of these tools to bring capital management to companies that ordinarily would not have been large enough to access those kinds of sophisticated tools,” Colella says. Noting that many traditionally integrated banking services disaggregated, or “unbundled,” after the global financial crisis, she is anticipating a swing back to “rebundling” and eyeing potential winners as that unfolds. Among those Colella sees as well positioned are money transmitter TransferWise and Berlin-based bank Number26.
 1. Jonathan Korngold General Atlantic  2. Matthew Harris Bain Capital Ventures  3. Jane Gladstone Evercore Partners  4. James Robinson III & James Robinson IV RRE Ventures  5. Steven McLaughlin Financial Technology Partners  6. Amy Nauiokas & Sean Park Anthemis Group |
 7. Richard Garman & Brad Bernstein FTV Capital  8. Gerard von Dohlen Broadhaven Capital Partners  9. Darren Cohen Goldman Sachs Group  10. Hans Morris Nyca Partners  11. Meyer (Micky) Malka Ribbit Capital  12. Maria Gotsch Partnership Fund for New York City |
 13. Barry Silbert Digital Currency Group  14. Jay Reinemann Propel Venture Partners  15. Mariano Belinky Santander InnoVentures  16. Justin Brownhill & Neil DeSena SenaHill Partners  17. François Robinet AXA Strategic Ventures  18. Vanessa Colella Citi Ventures |
 19. Michael Schlein Accion International  20. Kenneth Marlin Marlin & Associates  21. Rumi Morales CME Ventures  22. Alastair (Alex) Rampell Andreessen Horowitz  23. Steve Gibson Euclid Opportunities  24. Fabian Vandenreydt SWIFT |
 25. Vladislav Solodkiy Life.SREDA  26. Gardiner Garrard III TTV Capital  27. Nektarios Liolios Startupbootcamp Fintech  28. Lawrence Wintermeyer Innovate Finance  29. Bina Kalola Bank of America Merrill Lynch  30. Hyder Jaffrey Fintech Innovation |
 31. Calvin Choi AMTD Group  32. Janos Barberis FinTech Hong Kong  33. Jalak Jobanputra Future Perfect Ventures  34. Sopnendu Mohanty Monetary Authority of Singapore  35. Oskar Mielczarek de la Miel Rakuten FinTech Fund |