Company demonstrates commitment to innovation with global FinTech relationship
Commerce Bancshares, Inc. announced today that it is deepening its multi-year relationship with SixThirty, a global venture firm that invests in enterprise technology startups. SixThirty targets investments in seed to early growth stage startups. SixThirty’s portfolio and pipeline represent some of the most innovative and promising fintech, insurtech, digital health and cybersecurity ideas from around the world.
The collaboration with SixThirty will allow Commerce to build strategic relationships, further drive innovation in the industry and make direct investments in ideas that present long-term opportunity to the business and the needs of our customers. Commerce will also provide hands-on training and mentoring to the companies selected to take part in SixThirty’s go-to-market program. Company leaders will participate in networking opportunities with leading technology and financial services institutions and some of the brightest and most innovative minds in the country.
Innovation, a cornerstone of Commerce’s culture and core values, has been about building on past successes while looking forward. Commerce has consistently invested in new markets and products to meet customers’ changing needs and keep pace with the dynamic and constantly changing financial services market.
“With a culture designed to embrace and inspire innovation, Commerce’s strategic investment in SixThirty’s venture fund is an important component to our long-term success,” said Charles Kim, Chief Financial Officer. “Throughout our history, Commerce has maintained an innovative mindset that is focused on serving our customers and solving emerging business challenges.” Commerce Bank’s corporate strategy and innovation office leads companywide initiatives in identifying strategic growth opportunities for the company and its lines of business. Jennifer Upton, manager of corporate strategy and innovation, said, “Partnering with an organization like SixThirty is a natural fit for Commerce. Their focus on the convergence of wealth, health and data aligns with many of our strategic priorities. We look forward to the continued collaboration with SixThirty and its global reach into fintechs and innovation.”
St. Louis, where SixThirty is headquartered, offers a robust financial services community, serving as one of the largest financial services hubs outside of New York. SixThirty has been investing in FinTech since 2013. Their integrated model nurtures growth and collaboration between its portfolio investments and corporate LPs, which include leading financial institutions across the United States.
Commerce Bank executives Charles Kim, Chief Financial Officer, and Dave Roller, Chief Information Officer, will serve as members of SixThirty’s Investment Committee.
About Commerce Bancshares, Inc.
With $33.3 billion in assets1, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 150 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. It also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.
1. As of March 31, 2021
SixThirty Ventures is an early-stage venture capital firm that invests in enterprise technology companies from around the world building FinTech, InsurTech, Cyber Security, and Digital Health solutions. Portfolio companies of SixThirty Ventures gain access to the Fund's Go-to-Market Program, which entails curated meetings with corporate partners, mentorship on b2b sales and go-to-market strategy, and networking opportunities with industry incumbents.
For more information, visit https://sixthirty.co/.