Houston fintech startup raises $8M seed round led by local VC

fresh funds

A Houston fintech startup is aiming to modernize banking and investing — and has received fresh funding to do it. Photo via Getty Images

A Houston startup has raised millions for its fintech platform — and the company didn't have to go very far to find its lead investor.

Brassica Technologies Inc. closed its seed round at $8 million with Houston-based Mercury Fund leading the round. Valor Equity Partners, Long Journey Ventures, NGC Fund, Neowiz, Broadhaven Ventures, Armyn Capital, VC3DAO, Alpha Asset Management (Korea), and other global FinTech investors participated in the round as well.

The startup's platform has "institutional-grade solutions for the new era of private investing and alternative assets," per the release. Serving the alternative assets industry, Brassica's tools can easily integrate with any operating system to provide proprietary technology and unique regulatory licenses. The technology aims to modernize key banking and investing infrastructure to help enterprises safely grow their business and protect their customer assets.

With its "investment infrastructure as a service" model, Brassica was co-founded in 2021 by two familiar faces in Houston's fintech scene. CEO Youngro Lee and CTO Bob Dunton were behind NextSeed, a crowdfunding platform that allowed businesses to raise investment funding online. The startup was acquired in 2020 by Republic, where Lee currently serves as executive vice president and head of Asia.

“The future of finance will depend on the ability of trustworthy institutions to provide secure and seamless transitions between traditional financial services and web3 innovations while complying with strict regulations and still providing great customer experience,” says Lee in the news release.

“Today’s infrastructure solutions for alternative assets are often cobbled together through multiple incompatible vendors in a complex regulatory environment, which often creates unreasonable risk, errors, and single points of failure for market participants," he continues. "We started Brassica to address this fundamental problem and provide solutions to enable innovators in both traditional and web3 industries to build properly within a constantly evolving global regulatory framework.”

Along with the seed round news, the company has announced that Brassica Trust Company, its wholly-owned subsidiary, has received a Trust Charter by the Wyoming State Banking Board.

“The revolution of the private markets is here, and it is clear that the traditional, legacy infrastructure currently in place is not designed for the present and future investment world,” says Blair Garrou, managing director at Mercury Fund, in the release. “Brassica’s API-forward, institutional grade solutions make investing in private and digital assets more trustworthy, compliant, and secure than ever before, further bridging the gap between the worlds of traditional and decentralized finance. Their highly qualified and experienced senior business, legal, and technology executive team makes Brassica well-positioned to usher in this new era of alternative investments. We are proud to support Brassica on their ongoing mission to democratize finance globally.”

The company plans to use the funding to grow its product, engineering, business development, and customer success teams, per the news release, as well as develop a trust operations team in Wyoming. Current leadership includes former execs from Republic, Cleary Gottlieb, Kirkland Ellis, Morgan Stanley, Custodia Bank, LedgerX, Prime Trust, JP Morgan Chase, and M1 Finance.

Youngro Lee has announced funding for his latest fintech endeavor. Photo courtesy

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Topl's latest fundraising round includes participation from a Houston investor as well as international partners. Image via Getty Images

Houston-founded blockchain startup raises $15M series A to increase international impact

money moves

A blockchain technology company that was founded out of Rice University has closed its latest round of funding.

Founded in 2017, Topl is a blockchain-as-a-service company that's developing a purpose-built blockchain ecosystem to empower impact and sustainability within its userbase of businesses. The company's $15 million series A round was co-led by Houston-based Mercury, Republic Asia, and Malta-based Cryptology Asset Group.

“Topl’s blockchain was purpose built to power the next wave of supply chains and markets, that are more sustainable and inclusive,” says Chris Georgen, founder and managing director of Topl, in a news release. “Every decision we’ve made has been relentlessly focused on this problem and it’s exciting to see this approach yielding results with more than 30 different impact-forward use cases already live or approaching launch. Through this latest fundraise and with the strong network we’ve built, we’re looking to accelerate the growth of our ecosystem and setting a goal of at least 100 applications launched by next year.”

The company, which is now headquartered in Austin but still has a presence in Houston, has raised over $20 million in investment to date. Topl announced its $3 million seed round of funding — also led by Mercury — in 2020.

“Despite broader market dynamics across the Web3 sector, Topl’s strategic and early focus on users allowed the team to build an incredibly strong foundation that can weather cycles by providing an increasingly in-demand service to companies implementing various sustainable initiatives,” says Samantha Lewis, principal at Mercury, in the release. “We are excited to support Topl in this pivotal growth period.”

The round included two new international investors in Topl. Republic Asia is a newly launched arm of private investing platform Republic that is focused on fintech and web3 solutions. Houstonian Youngro Lee leads the division as executive vice president at Republic and head of Republic Asia and will join Topl's board to assist with international expansion.

“Sustainability and climate considerations are no longer mere luxuries, but an absolute necessity for companies to contribute to global finance and commerce,” Lee says in the release. “Topl will make it easier than ever for any organization around the world to harness the power of blockchain to track and monetize their positive environmental impact.”

Cryptology, with its European operations, also brings Topl key international presence.

"It's been an honor to see Topl progress from when it first entered Iconic Lab's accelerator program back in 2018 to where it is today," says Patrick Lowry, CEO of Cryptology, in the release. "Cryptology is hyper-focused on driving crypto adoption in an impact-focused, sustainable manner. We are proud to add Topl to our portfolio of companies and excitedly await Topl's network decentralization."

In addition to increasing its international impact, Topl will reportedly continue to build out its blockchain and technology. Per the release, Topl expects to launch a traceability platform for ethically and sustainably sourced products later this year.

Topl, which launched a grant program to fund Web3 startups and developers with inclusive and sustainable solutions, plans to announce its first 20 grant awards early next year. The grant recipients will also receive development, go-to-market, and fundraising support from Topl's team and network.

Sylvia Kampshoff has launched Kanthaka's first crowdfunding campaign. Photo courtesy of Kanthaka

Houston fitness tech startup launches $1M crowdfunding campaign

money moves

Calling all cardio lovers, yogis, and strength trainers alike — a Houston fitness platform is opening up investment opportunities through a new crowdfunding campaign.

Kanthaka, a Houston-based app that connects clients to personal trainers and yoga instructors on-demand, announced it will be launching a $1 million campaign through Republic, a crowdfunding platform. Kanthaka's users and trainers — or anyone interested — now have the option to become part owners in the company.

"We are very happy at Kanthaka to have been selected by Republic for their crowdfunding campaign," says Sylvia Kampshoff, founder and CEO of Kanthaka, in a press release. "I want our users as our evangelists.

"Since we started the company I've had clients reaching out wanting to invest but it was complicated — you had to be an accredited investor or VC," Kampshoff continues. "Now through this crowdfunding campaign, clients and trainers can participate in our journey."

According to the release, Republic, which is strategically partnered with Houston-based NextSeed, only accepts less than 1 percent of applicants interested in being funded on the platform. Kanthaka has reportedly raised over $850,000 from two venture capitalists and angels investors to date.

The company provides both live in-person and virtual sessions. Between March 2020 and March 2021, Kanthaka grew over 700 percent in sessions sold, per the release, and now, with the COVID-19 vaccines, the company is seeing a new spike in sessions.

"Our vision is to become Amazon for health & fitness and the go-to provider to live a longer, happier and healthier life," Kampshoff says in the release. "We couldn't be more excited about this journey."

Frustrated with the lack of ease in booking training sessions, Kampshoff launched Kanthaka in 2017 and has grown the company and expanded into 15 markets. Kanthaka participated in Austin-based accelerator Sputnik ATX.

Image via mykanthaka.com

This week's roundup of Houston innovators includes Grace Rodriguez of Impact Hub Houston, Youngro Lee of NextSeed, and Liz Youngblood of Baylor St. Luke's Medical Center. Courtesy photos

3 Houston innovators to know this week

Who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — startup development, fintech, and health care — recently making headlines in Houston innovation.

Grace Rodriguez, CEO and executive director of Impact Hub Houston

Impact Hub Houston has two new initiatives for female founders. Photo courtesy of Impact Hub Houston

Two accelerator programs were recently announced and they both are aimed at supporting female founders — and one Houston organization is behind them both. Impact Hub Houston announced that it has partnered up with Frost Bank to sponsor eight female founders to participate in Impact Hub's new Accelerate Membership Program.

Additionally, Impact Hub Houston has teamed up with MassChallenge for their own initiative supporting female founders in the Houston-Galveston region in partnership with Houston-based Workforce Solutions. The three organizations are collaborating to launch launch a bootcamp to support female founders in the greater Houston region.

"As a female founder myself, I'm incredibly excited about this opportunity to support and uplift more women entrepreneurs and women-led businesses in our region," says Grace Rodriguez, CEO and executive director of Impact Hub Houston, in a news release. "By now, it's no secret that women, and especially women of color, are under-invested in; and this is our chance to change that by helping more women strengthen their businesses and prepare to seek funding." Click here to read more.

Youngro Lee, co-founder and CEO of NextSeed and COO of Republic

What does the future of investment look like? That's something Youngro Lee thinks about daily – and he shares his thoughts on this week's episode of the Houston Innovators Podcast. Photo courtesy of NextSeed

The world of investing is changing — and the power shift is tilting from the rich elite to individuals. Youngro Lee, co-founder and CEO of NextSeed and COO of Republic, has seen the change starting several years ago.

"Investing is traditionally seen as something you can't do unless you're rich," Lee says on this week's episode of the Houston Innovators Podcast. "There was a certain understanding of what anyone (looking to invest) should do. … But now the world is so different."

Lee shares more about the future of investing and how he's watched the Houston innovation ecosystem develop over the years on the episode. Click here to read more and stream the podcast.

Liz Youngblood, president of Baylor St. Luke's Medical Center and senior vice president and COO of St. Luke's Health

As we enter year two of the pandemic, the way hospitals function now and in the future is forever changed. Photo courtesy

No industry has been unaffected by COVID-19, Liz Youngblood, president of Baylor St. Luke's Medical Center and senior vice president and COO of St. Luke's Health, observes in a guest column for InnovationMap. But hospitals — they've had a spotlight shown on them and their technology adoption since day one of the pandemic.

"The pace of innovation for hospitals has been at breakneck speed — from the evolution of new treatment protocols to the need to reconfigure physical spaces to support an influx of patients while also promoting a healing environment during this unprecedented time," she writes.

Hospitals, she says, look and feel completely different now than they did last year and the year before that. Click here to read more.

What does the future of investment look like? That's something Youngro Lee thinks about daily – and he shares his thoughts on this week's episode of the Houston Innovators Podcast. Photo courtesy of NextSeed

Houston fintech startup continues to grow to represent a new era of investing

HOUSTON INNOVATORS PODCAST EPISODE 78

When Youngro Lee and his co-founders launched NextSeed — an investment platform that allows non-accredited investors to invest in small, local businesses for as little as $100 — they were creating something that hadn't existed before. Now, Lee is actively working toward a world where this type of crowd-sourced investment is commonplace.

And the industry is changing — finally. The first change was in 2012 when the Jobs Act allowed for unaccredited investors to make small-scale investments into businesses. It was this new law change that drove Lee and his co-founders to create NextSeed as the landscape of both investors and companies that were able to get funding began to evolve.

"Investing is traditionally seen as something you can't do unless you're rich," Lee says on this week's episode of the Houston Innovators Podcast. "There was a certain understanding of what anyone (looking to invest) should do. … But now the world is so different."

And the financial world was due some changes, Lee says. If you look at the top 10 companies in the world right now, he explains on the show, most of those companies weren't on that list 20 years ago. "And that's not a coincidence," he says.

"Technologies, lifestyles, and generations change, but in the world of finance — because of regulations and old school mentality — it doesn't catch up," Lee says.

But new companies — like NextSeed on the private side of the market and Robinhood representing public investment — are putting investment power into the hands of individuals. And the new generations of investors look at investment differently.

"The future of investment is less about, 'let me maximize my ROI,'" he says, "it's going to transition to, 'I want to invest in things that make me happy and things that I value."

Last fall, NextSeed and New York-based Republic, another investment platform, entered into a strategic partnership that mutually benefits both companies and expands their horizons — both geographically and on an industry level. From Republic's perspective, the company is tapping into a new market in Houston and Texas — a region that's growing its population and attracting new businesses.

Lee shares more about the deal, the future of investing, and how he's watched the Houston innovation ecosystem develop over the years on the episode. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


With the acquisition, Youngro Lee, co-founder and CEO of NextSeed, has been named the COO of Republic. Courtesy of NextSeed

Houston investment platform acquired, new partnership grows investor access

Nextseed's next phase

A growing New York-based private investment platform has acquired Houston-based NextSeed, according to announcements from both companies.

Republic announced the acquisition Monday, November 16, and appointed Youngro Lee, co-founder and CEO of NextSeed, as Republic's new COO. It's the third acquisition for Republic this year. Fig, a gaming-focused platform, and Compound, a real estate-focused platform, both joined the Republic family, allowing investors access to other industries.

"The NextSeed acquisition is just the latest milestone for Republic as we deliver the most expansive platform of marketplace offerings and investment types for private investors globally," Republic CEO Kendrick Nguyen says in a release.

Lee founded NextSeed with CMO Abe Chu and CTO Bob Dunton six years ago following the passage of the JOBS Act in 2012, that allowed smaller investments from non-accredited investors. Since then, NextSeed has facilitated $20 million in investments from 25,000 members into 75 local businesses.

It's a pivotal moment for the private investment community as just two weeks ago the SEC announced changes to Regulation Crowdfunding that included raising the fundraising caps from $1.07 million to $5 million. Between the new regulations and the new Republic deal, investing on NextSeed's platform will grow in scale.

"Now, by partnering with Republic, we believe that we can achieve so much more together for our entire business and investor community," NextSeed's executive team says in an email to investors. "We have known and worked with the Republic team for over four years, as both firms tried to strengthen and grow this industry since the very beginning of this movement."

Republic's founders are alums from AngelList and have made Republic one of the top private investing platforms in the industry with around 1 million members and more than $200 million facilitated through individual and institutional investors, according to the email.

According to NextSeed's email to its investors, little will change on the platform for investors, aside from access to new deals from Republic and its subsidiaries. Additionally, NextSeed will maintain its headquarters in Houston and the deal marks Republic's entrance into Houston and Texas.

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18 Houstonians land on Forbes world's billionaires list for 2025

World's Richest

The world’s richest people are wealthier now than they've ever been, and more billionaires have made it onto the 2025 World's Billionaires List than ever before, according to Forbes. This year, 18 Houston-based billionaires are among the richest people in the world, with hospitality honcho Tilman Fertitta leading as the richest Houstonian.

Fertitta, 67, ranked No. 220 overall with an estimated net worth of $11.3 billion, which steadily increased from his 2024 net worth of $9.4 billion.

In addition to owning the Houston Rockets, the busy billionaire owns Texas-based hospitality and entertainment corporation Landry's, and he authored a book about business leadership in 2019. He most recently was nominated as the new United States ambassador to Italy by President Donald Trump.

Ranking 248th overall is oil and gas chairmanRichard Kinder. Forbes estimates his net worth at $10.6 billion, up from $8.1 billion in 2024.

Kinder cofounded pipeline giant Kinder Morgan in 1997, and stepped down as CEO in 2015, though he still retains his seat as chairman of the board. The company is the largest energy infrastructure firm in the U.S., Forbes says, and it owns 79,000 miles of pipeline.

New to the 2025 list is Perry Homes executive chair Kathy Britton, whose company has built over 65,000 homes across the U.S., according to Forbes. Her late father, Bob Perry, founded Perry Homes in 1967. Britton ranked No. 1408 with an estimated net worth of $2.6 billion.

Mercedes-Benz mega-dealer Joe Agresti is another newbie to the list, ranking No. 2790 with a net worth of $1.1 billion. He owns Dream Motor Group with former football coach Nick Saban.

14 additional Houston-area billionaires that made Forbes 2025 world’s richest list are:

  • Houston pipeline heir Randa Duncan Williams: ranked No. 307 with an estimated net worth of $9.3 billion, up from $7.7 billion in 2024. Fellow pipeline heirs Dannine Avara and Milane Frantz tie for 311th nationally. Each has an estimated net worth of $9.2 billion, up from $7.6 billion. Scott Duncan ranks No. 329 with a $9 billion estimated net worth, up from $7.6 billion in 2024.
  • Houston oil tycoon Jeffery Hildebrand: ties for No. 411; $7.7 billion, down from $12.6 billion
  • Toyota mega-dealer Dan Friedkin: ties for No. 411; $7.7 billion, up from $6.4 billion
  • Houston Texans owner Janice McNair and family: No. 561, $6.2 billion, up from $5.6 billion
  • Energy exploration chief exec George Bishop: No. 717, $5 billion, up from $3.2 billion (based in The Woodlands)
  • Westlake Corporation co-owners Albert Chao, James Chao and their families:tied for No. 902, $4 billion, down from $4.9 billion
  • Hedge fund honcho John Arnold: No. 1266, $2.9 billion, down from $3.3 billion
  • Houston Astros owner Jim Crane: No. 1513, $2.4 billion, unchanged from 2024
  • Former Houston Rockets owner Leslie Alexander: tied for No. 1850, $1.9 billion, unchanged from 2024
  • Frontier Airlines chairman William Franke: No. 2623, $1.2 billion, down from $1.3 billion

Elsewhere in Texas, Austin-based billionaire Elon Musk topped Forbes' list as the world's richest person in 2025. The Tesla and SpaceX founder knocked French luxury goods magnate Bernard Arnault down to second place this year.

Forbes declared Musk the first person to reach the $300 billion status. His current net worth stands at $342 billion, which is a staggering $147 billion more than his 2024 net worth.

"It’s another record-breaking year for the world’s richest people, despite financial uncertainty for many and geopolitical tensions on the rise," said Forbes senior editor of wealth Chase Peterson-Withorn. "And, from Elon Musk to Howard Lutnick and the other billionaires taking over the U.S. government, they’re growing more and more powerful."

In Dallas-Fort Worth, Walmart heiress Alice Walton became the wealthiest woman in the world in 2025. Forbes declared Walton's net worth at $101 billion, which is $28.7 billion more than her 2024 net worth of $72.3 billion. She is now one of 15 individuals to claim 12-figure fortunes, also known as the "$100 Billion Club."

State-of-the-art innovation hub opens in Houston Energy Corridor

flagship facility

French multinational company Schneider Electric has opened a new 10,500-square-foot, state-of-the-art Energy Innovation Center in Houston.

The new facility is located in Houston’s Energy Corridor and is designed to “foster increased collaboration and technological advancements across the entire value chain,” according to a news release from the company. The new Houston location joins Schneider's existing innovation hubs in Paris, Singapore and Bangalore.

The venue will serve as a training center for process control engineers, production superintendents, manufacturing managers, technical leads and plant operations personnel. It can simulate various real-world scenarios in refineries, combined-cycle power plants, ethylene plants, recovery boilers and chemical reactors.

It includes an interactive control room and artificial Intelligence applications that “highlight the future of industrial automation,” according to the release.

"Digitalization is significantly enhancing the global competitiveness of the U.S. through continuous innovation and increased investment into next-generation technology," Aamir Paul, Schneider Electric's President of North America Operations, said in the release.

Texas has over 4,100 Schneider Electric employees, the most among U.S. states, and has facilities in El Paso, the Dallas-Fort Worth metroplex and other areas.

"This flagship facility in the Energy Capital of the World underscores our commitment to driving the future of software-defined automation for our customers in Houston and beyond,” Paul added in the release. “With this announcement, we are excited to continue supporting the nation's ambitions around competitive, efficient and cost-effective manufacturing."

Schneider Electric says the new Houston facility is part of its expansion plans in the U.S. The company plans to invest over $700 million in its U.S. operations through 2027, which also includes an expansion at its El Paso campus.

The company also announced plans to invest in solar and battery storage systems developed, built, and operated by Houston-based ENGIE North America last year. Read more here.

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This story first appeared on our sister site, EnergyCapitalHTX.com.

9 can't-miss Houston business and innovation events for April

where to be

Two new conferences will launch while another longtime business competition celebrates its 25th anniversary this month in Houston. Plus, there are networking opportunities, family tech events and more.

Here are the Houston business and innovation events you can't miss in April and how to register. Please note: this article might be updated to add more events.

​Ion Block Party: Art Crawl

Network and socialize with other tech enthusiasts and business-minded individuals while taking in the new gallery at Community Artists’ Collective and experiencing the immersive dome at Omnispace360. See work by Joel Zika, who will showcase his digital sculptures through augmented reality screens, and other public art around the Ion while also enjoying food and drink.

This event is Thursday, April 3, from 4-7 p.m. at the Ion. Click here to register.

​CLA Presents: Raising Capital over Happy Hour

Gain a better understanding of the capital-raising process and various funding opportunities at this educational happy hour. Keith Davidson, the market leader for CLA in Dallas and former CFO of ICS, will present.

This event is Thursday, April 10, from 4-6 p.m. at The Cannon. Click here to register.

Rice Business Plan Competition 

The Rice Alliance for Technology and Entrepreneurship will host the 25th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event is April 10-12. Stream the Elevator Pitch Competition and Final Round here.

RSVF Annual Conference

The Rice Student Venture Fund will host its first-ever Annual Conference to celebrate the university's entrepreneurial spirit and the rising generation of student-led innovation. The conference will include live startup demos, an RSVF fund update, a keynote fireside chat, a builder-investor panel and networking. RSVF welcomes students, alumni, investors, faculty and staff, and innovators and community members of the broader tech scene.

This event is Monday, April 14, from 4-8 p.m. at the Ion. Click here to register.

​TEX-E Conference

TEX-E will host its inaugural conference this month under the theme "Energy & Entrepreneurship: Navigating the Future of Climate Tech." The half-day conference will feature a keynote from Artemis Energy Partners CEO Bobby Tudor as well as panels with other energy and tech leaders from NRG, Microsoft, GE Vernova and TEB Tech.

This event is Tuesday, April 15, from 1-4:30 p.m. at the Ion. Click here to register.

Houston Methodist Leadership Speaker Series 

Hear from Dr. Jonathan Rogg, Chief Quality Officer and Vice President of Operations at Houston Methodist Hospital and a a practicing emergency medicine physician, at the latest Houston Methodist Leadership Speaker Series. Rogg will present "Leadership from the Bedside to the Boardroom."

This event is on Wednesday, April 23, from 4:45-6 p.m. at the Ion. Click here to register.

Ion Family STEAM Day– Let's Build a Tripwire Alarm

STEAM on Demand will host a hands-on, family-friendly engineering lesson for young ones on the Ion Forum Stairs. Kids will learn to create and test their own working alarm system. The event is geared toward those ages 7 to 14.

This event is Sunday, April 26, from 10 a.m. to noon at the Ion. Click here to register.

 Greentown Houston Fourth Anniversary Transition On Tap

Climatetech incubator Greentown Labs will celebrate its fourth anniversary with a special edition of its signature networking event, Transition On Tap. Entrepreneurs, investors, students, and friends of climatetech are invited to attend.

This event is Tuesday, April 29, from 5:30-7:30 p.m. at Greentown Labs. Click here to register.

Integrate Space Technology Into Your Small Biz

The SBA Houston District Office and the UH Technology Bridge will host a collaborative event designed to help small businesses leverage space technology for prototype development. Attendees will also hear from industry experts on resources and gain access free technical engineering assistance to help accelerate their businesses.

This event is Wednesday, April 30, from 9:30-11:30 a.m. at UH Technology Bridge Innovation Center. Click here to reserve your spot.

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