In the high-stakes, fast-moving world of fintech, few names carry the weight of Sheel Mohnot. As the Co-founder of Better Tomorrow Ventures (BTV) and leader of The Mint accelerator, Sheel brings not just capital but operational empathy, relentless optimism, and a truly global perspective to early-stage investing. For startup founders trying to disrupt financial services, Mohnot is more than a VC—he’s the partner they want on speed dial.
From founding and exiting startups like FeeFighters, to shaping fintech VC at 500 Startups, to now backing the next generation through BTV, Sheel’s journey is packed with hard-won lessons and standout success stories. But what really makes him unique is how he shows up—as a mentor, community builder, and sometimes even a metaverse groom. Let’s dive into the story behind the smile, and what founders can take away from one of fintech’s most founder-loved investors. 🚀
Why He Backs Founders Before Metrics
Sheel Mohnot doesn’t start with spreadsheets. He starts with people. His investment philosophy is centered on the belief that at the pre-seed and seed stage, the founder is the most critical factor. Traits he values most? 💡 Vision, 💪 resilience, 🔄 adaptability, 🧭 integrity, and ⚡ speed.
His favorite quote, by surfer Laird Hamilton, says it all: “You have to be willing to subject yourself to failure… and try stuff that you’ve never done.” That mindset defines how he invests—betting on people who are bold enough to try, and resilient enough to try again.
At BTV, he and his partner Jake Gibson lead rounds, write meaningful checks ($500K to $4M), and actively support founders. Their firm isn’t just capital—it’s a platform for ambitious fintech builders.
Building BTV: A Mission to Fix Finance Globally
BTV isn’t just another VC firm. It’s a laser-focused fintech powerhouse with a global thesis. 🌍 Whether it’s banking in the U.S., insurance in Brazil, or AI risk tools in Canada, BTV invests where big problems meet sharp founders. Their approach is international by design, with roughly one-third of their portfolio based outside the U.S., including fintech startups in Nigeria, India, Indonesia, Pakistan, Mexico, and Brazil. 🌐💱📲
After years leading fintech at 500 Startups and launching the 500 Fintech accelerator, Sheel Mohnot wanted more control, more focus, and the ability to lead rounds. Partnering with NerdWallet co-founder Jake Gibson—a former Wall Street trader with deep quant finance experience—they launched BTV with a bold thesis:
“Finance is broken. Let’s help founders fix it.”
They raised $75M for Fund I (2020), then a $225M Fund II (2022), which includes a $150M core fund and a $75M opportunity fund. Today, BTV has over $300M AUM and has backed 80+ startups like Mercury, Ramp, Coast, Selfbook, Salsa, Ethos AI, Divibank, Capa, Nilus, and BRKZ. 🏦💸📊
The Mint: Where Pre-Seed Fintech Gets Real
Most accelerators are generic. The Mint is not. Built by BTV for fintech founders only, it’s a 10-week, in-person program based in San Francisco and New York City. It offers $500K for 10% equity via SAFE—but more importantly, it gives founders:
- 🧠 Weekly 1:1 mentorship with fintech operators
- 🧰 Expert sessions on legal, product, hiring, pricing
- 🔥 Off-the-record firesides with top fintech CEOs
- 💼 Hands-on fundraising help & VC intros
- 🌐 A real community of global fintech builders
Alumni have gone on to raise significant rounds and build standout companies like Ezra, BrikMate, and InScope. Sheel Mohnot believes programs like The Mint are critical for shortening the learning curve for first-time founders.
Lessons from the Trenches: Founder First, Always
Sheel Mohnot has been on both sides of the pitch. As a two-time founder (FeeFighters, Innovative Auctions), he knows the pressure, pivots, and late nights. At FeeFighters, he introduced a reverse auction model for credit card processing, raising $1.6M from investors like 500 Startups before exiting to Groupon in 2012. At Innovative Auctions, he ran high-stakes auctions with successful results. These experiences taught him not just how to build, but how to sell, iterate, and bounce back. 🧱🕰️🚧📈
His time at Kiva.org was equally transformative. Living in India on less than $2 a day to better understand microloan recipients, he experienced firsthand how finance can empower the underserved. It sparked a lifelong passion for solving real problems through technology and capital. 🌍💳💡🧘♂️
He tells founders:
- ✨ Be resilient – The road is rough. Grit wins.
- 🌎 Know your market – Deep domain insight beats hype.
- ⏱️ Move fast – Execution speed is your edge.
- 💡 Pivot early – Don’t waste time on dead ends.
- 😊 Be coachable – Investors back learning machines.
He also cautions against chasing buzz. “PFM apps for budget nerds? Don’t confuse loud fans with market scale.” Instead, he urges founders to focus on solutions that create real, measurable impact.
The Man Behind the Metaverse Wedding
Beyond boardrooms and pitch decks, Sheel Mohnot is anything but boring. He’s known for:
- 🌮 A Taco Bell wedding in the metaverse, held on Decentraland, complete with a virtual baraat procession and officiated by actor Kal Penn
- 🎤 Co-hosting the podcast The Pitch, which was acquired by Gimlet and Spotify, offering a Shark Tank-style look at real startup pitches
- 🌿 Supporting emerging market founders via Catalyst Fund, focused on inclusive fintech in places like Kenya, India, and Mexico
- 🚀 Building community online through @pitdesi on X, where he shares startup advice, fintech memes, and personal reflections
- 🦄 Once being banned from Uber (ask him about it!), and appearing on a Zoom-based Bachelor-style dating show during COVID lockdowns
He believes in showing up as his full self, reminding founders that success doesn’t have to mean fitting a mold. From his Justin Bieber music video cameo to launching a “Sheel Pays Your Bills” initiative, he embraces the unexpected. In fact, quirky authenticity can be your moat. 🛡️
Takeaways for Fintech Founders 🚀
Sheel Mohnot is more than a check writer. He’s a founder-whisperer, fintech futurist, and global connector. If you’re building in fintech, here’s why his journey matters:
- 🛤️ He’s walked the founder path – and still leads with empathy, having built and exited multiple companies and advised dozens more.
- 🧠 His investment playbook puts people before products, prioritizing founder traits like resilience, vision, and integrity.
- 🛠️ He builds support systems (like The Mint) where none existed, designed specifically for fintech builders navigating regulatory and infrastructure challenges.
- 🌍 His global mindset opens up markets beyond Silicon Valley, with BTV’s portfolio spanning startups from Nigeria to Brazil to India.
In a world chasing AI buzz and quick wins, Sheel Mohnot backs long games and mission-driven builders. His belief in fintech’s potential to solve meaningful, real-world problems—especially for underserved populations—anchors his investment strategy. If you’re solving real financial problems and building with purpose, he wants to hear from you.
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