Portfolio
Portfolio
Twelve companies at the payments infrastructure, AI-native credit, and embedded finance orchestration layers. We backed each at Pre-Seed or Seed — before the architecture was settled, when the foundational decisions were still being made.
All Portfolio Companies
The portfolio in context
The twelve companies in the Pemberton portfolio share a common characteristic: each is operating at the infrastructure layer, not the application layer. Crezco, Volt, and Weavr sit at the payments and embedded finance connectivity layer. Flowcast and Atlar work at the AI-native decisioning and treasury management layer. Reflow and Fennech Financial address compliance and financial crime monitoring — increasingly treated as infrastructure by the regulated institutions that buy them. Bound and Verto address treasury and FX infrastructure for a mid-market that has historically been underserved by products designed for large corporates.
The concentration across these three dimensions — payments connectivity, AI-native lending, and embedded finance orchestration — is deliberate. We do not invest for portfolio breadth. We invest where we have direct operating knowledge of the problem, genuine relationships in the regulatory and commercial ecosystem, and a view on which architectural approaches will prove defensible over time.
The portfolio spans Pre-Seed through Series A. Our conviction is highest at the earliest stage, when the architecture is still being formed and the decisions that will determine long-term defensibility are live. Series A follow-on is selective — reserved for portfolio companies where we have the highest confidence in both team and technical direction, and where our continued involvement is additive rather than performative.
We do not co-invest to manage risk. We invest because we have a view — and we back that view with the first cheque, not the fourth.