New York is known not only as city of dreams and Big Apple but a recent hub of FinTech innovation. The title of FinTech capital New York makes so much sense since the cream of the crop startups are nested in the US’ financial capital.
According to FinTech Innovation Lab, the sector has raised more than half a billion dollars of capital and created close to 500 jobs.
What are those market players that redefine the industry landscape? Let’s try to find out.
About: from trading to regulation, TradeBlock focuses on data and digital currency analysis and offers business instruments for distributed ledger technology assets.
What it does: main offering of TradeBlock include such enterprise tools as data services, professional platform for institutional Bitcoin traders, XBX Bitcoin Index, and proprietary analytics.
Total funding amount and type: 2.8MUSD (Seed)
About: Fundera is an online platform connecting small business owners with lenders. At Fundera, with one single questionnaire, entrepreneurs can apply for multiple lenders and weigh incoming offers afterwards.
What it does: Fundera offers a number of different loans including SBA loan, equipment financing, startup and personal lending, business line of credit, and invoice financing etc.
Total funding amount and type: 18.2MUSD (Series B)
About: Bolt is an end-to-end payment solutions provider that streamlines sales process for online merchants.
What it does: Along with myriad of anti-fraud tools, Bolt offers improved check-out experience optimizing conversion rates of Internet stores and boosting revenues as a result.
Total funding amount and type: Not known (Seed)
About: Debitize is one more top-notch firm with HQ in New York that helps customers improve credit score and receive more credit card rewards.
What it does: while customers pay for purchase with credit cards, on everyday basis Debitize deducts money from checking account paying the credit card bill at the very end of the month.
Total funding amount and type: Not known (Seed)
About: Cadre is an online platform that bridges the gap between real estate companies and potential investors.
What it does: Cadre utilizes technology to offer investors plenty of real estate projects to choose from at lower fees and with better transparency.
Total funding amount and type: 133.3MUSD (Series C)
About: Enigma is all pro open-data ecosystem. The GovTech firm from New York trades operational data intelligence and management.
What it does: Enigma sells tools for data operations and data quality improvement as well as analysis-ready public records.
Total funding amount and type: 34.6MUSD (Series B)
About: Stash is a robo-advising startup that allows investors pick the right strategy with as little as 5USD.
What it does: Stash enables fractional investing helping customers grow their wealth according to their long-term goals and interests.
Total funding amount and type: 116.3MUSD (Series D)
About: Moven is a cutting-edge mobile application created in New York City offering clients a whole new level of money management.
What it does: Moven is on a mission to transform digital banking by bringing cards, banking accounts, and mobile application under one roof.
Total funding amount and type: 47.4MUSD (Series C)
About: Bread offers online sellers and buyers plenty of tools to finance purchases with ease.
What it does: Bread has a set of transparent tools that works in sync with online business that offer shoppers payment option in installments.
Total funding amount and type: 140.3MUSD (Series B)
About: Vestwell is known for its unique approach to 401K plans.
What it does: Vestwell is one of FinTech startups that redefines the future of retirement by offering a turnkey solution for asset managers to help them design better offerings for its clients and choose among variety of plan types.
Total funding amount and type: 12.5MUSD (Series A)
About: Current focuses on teens’ needs providing fast and easy way of payment on the go using digital wallet.
What it does: Current designed three types of digital wallets to help both parents and kids manage personal finance effortlessly.
Total funding amount and type: 8.6MUSD (Series A)
About: Lemonade is a mobile app made in New York that offers users insurance coverage powered by AI in a blink of an eye.
What it does: Serving the needs of homeowners and tenants, Lemonade has monthly plans starting from 5USD and can boast of quick claims handling process.
Total funding amount and type: 180MUSD (Series C)
About: Cooked in New York, Ellevest is an exclusive financial planning solution providing tons of recipes for stability and wealth for modern woman.
What it does: Ellevest allows women making money and being in charge of their prosperity and growth. With 0$ required to take off, EV brings digital solutions to empower the community of working female to accumulate wealth.
Total funding amount and type: 44.6MUSD (Series A)
About: Morty democratizes the mortgage space offering house hunters a completely digital, easy way to look for real estate and apply for loans online.
What it does: Morty’s platform showcases a broad range of loan products allowing buyers to choose among multiple lenders.
Total funding amount and type: 3.3MUSD (Seed)
About: CardFlight is another New York based technology provider that redefines in-person payments on Android and Apple gadgets.
What it does: CardFlight offers SDK for companies that wish to seamlessly integrate payment gateway into their applications.
Total funding amount and type: 6.6MUSD (Series A)
About: Propel creates software for financially-impaired Americans making another add-on to our list of innovative FinTech startups worth talking about.
What it does: Propel serves low-income citizens whose needs are often underestimated by tech firms.
Total funding amount and type: 6.6MUSD (Seed)
About: Kasisto is among renowned FinTech startups who tap into AI-powered conversation to enable companies establish better communication with clients.
What it does: Kasisto uses the potential of AI to equip businesses with smart bots and intelligent VAs.
Total funding amount and type: 28.5MUSD (Series B)
About: Forter is another pride of New York City. The company creates identity-based fraud protection solution business owners can rely on.
What it does: Forter strives to build a 100% fraud-free environment enabling companies grow their stakes securely.
Total funding amount and type: 50MUSD (Series C)
About: Velocity brings together the luxurious dining experience offering users a large choice of fine-dining.
What it does: Velocity is among FinTech startups that go extra mile to offer an app that helps users navigate best dining scene in London, New York, Los Angeles, and Miami.
Total funding amount and type: 39.9MUSD (Series B)
About: Being among most prominent FinTech startups for a reason, PeerIQ helps institutional investors and alternative financing operators manage risks better.
What it does: PeerIQ proposes intelligent risk and data analytics tools powered by emerging technology.
Total funding amount and type: 20.5MUSD (Series A)
New York has become a Mecca for FinTech startups that changes the rules industry plays by and shapes the future of finance.