Commerce partners with fintech venture fund

Missouri’s Commerce Bank has signed a six-year partnership with SixThirty, a business development program and venture fund that invests in fintech startup companies.

St. Louis-based SixThirty targets investments in late-seed stage startups that have a product and market traction and are starting to earn revenue. It invests in eight to 14 fintech startup companies each year.

Through its relationship with the company, Kansas City-based Commerce will provide hands-on training and mentoring to the companies selected to take part in SixThirty’s business development program. Commerce employees will participate in networking opportunities with technology and financial services institutions.

Additionally, Commerce will have the ability to make direct investments in ideas that present strategic, long-term opportunity to the business and the needs of the bank’s customers.

John Kemper

“Throughout our 153-year history, Commerce has maintained an innovative mindset. This has not only been valuable for launching new products and services, it has been crucial for solving existing and emerging business challenges,” said John Kemper, president and CEO of the $24 billion Commerce Bank. “Partnering with an organization like SixThirty is a natural fit for Commerce and our culture of innovation. This relationship gives us an opportunity to look beyond our organization to identify strategic innovations to best serve our customers and solve the challenges of today and tomorrow – all while supporting the fintech community and the St. Louis region.”

Commerce Bank executives Bob Holmes, chair and CEO of Commerce Bank, St. Louis Region, and Dave Roller, chief information officer, are members of SixThirty’s investment committee, which selects startups that SixThirty invests in and evaluates the investment pipeline.

Atul Kamra

“Commerce’s approach to innovation is grounded in engaging their talent and sustaining competitiveness with strong client relationships,” said Atul Kamra, SixThirty managing partner. “They are a great fit with our inclusive and collaborative approach to B2B innovation, and we are delighted to have them at the SixThirty table.”