ST. LOUIS – (COMMERCIAL THREAD) – Commerce Bank today announced a multi-year partnership with SixThirty, a St. Louis-based venture capital fund that invests in financial technology (FinTech) startups. SixThirty targets investments in late start-up startups that have product and market traction and are starting to generate income. Its portfolio and pipeline represent some of the most innovative and promising FinTech ideas from around the world.
Through its strategic relationship with SixThirty, Commerce will provide hands-on training and mentoring to companies selected to participate in SixThirty’s business development program. Members of the Commerce team will also participate in networking opportunities with leading financial technology and services institutions and some of the country’s brightest and most innovative minds. Additionally, Commerce will have the ability to make direct investments in ideas that present long-term strategic opportunities for the business and the needs of our clients.
Innovation, the cornerstone of Commerce’s culture and core values, is building on past successes while looking to the future. The company has constantly invested in new markets and products to meet changing customer needs and keep pace with the dynamic and evolving financial services market.
“Throughout our 153 year history, Commerce has maintained an innovative mindset. This has not only been invaluable in launching new products and services, but also in solving existing and emerging business challenges, ”said John Kemper, President and CEO of Commerce Bank. “Partnering with an organization like SixThirty is a natural fit for Commerce and our culture of innovation. This relationship gives us the opportunity to look beyond our organization to identify strategic innovations to better serve our customers and solve the challenges of today and tomorrow, while supporting the FinTech community and the St. Louis.
St. Louis offers a unique blend of a thriving startup scene and a strong financial services community, forming one of the largest financial services hubs outside of New York City. Atul Kamra, Managing Partner of SixThirty, said: “Commerce’s approach to innovation is based on engaging their talents and maintaining competitiveness with strong customer relationships. They fit in perfectly with our inclusive and collaborative approach to B2B innovation, and we’re delighted to have them at the SixThirty table. ”
Commerce Bank executives Bob Holmes, CEO of Commerce Bank, St. Louis area, and Dave Roller, CIO, are members of SixThirty’s investment committee, which selects FinTech startups in which SixThirty invests and evaluates the investment pipeline.
About the Banque du Commerce
Commerce Bank, a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), is a $ 25.1 billion regional banking holding company as of September 30, 2018. For more than 150 years, Commerce has served the financial services needs of individuals and businesses. Commerce provides a full range of financial products to individuals and businesses, including personal banking, loans, mortgage banking, wealth management, brokerage and capital markets services. Commerce operates out of approximately 330 locations in the central United States and has a nationwide presence in the commercial payments industry.
For more information, please visit www.commercebank.com.
SixThirty is a global venture capital fund that invests in early-stage financial technology (“FinTech”) startups and provides them with mentorship and connections with the nation’s leading financial services companies. Startups receive up to $ 250,000 of investment in exchange for a negotiated percentage of equity. The companies in the SixThirty portfolio receive individualized attention. The commitment of mentors and partners to working in the trenches with the founders on their business models and accelerating their commercialization continues to be a differentiator for SixThirty. For more information, please visit www.sixthirty.co.