5 New York City Fintech Startups to Watch

Fintech is the newest and fastest way to process and deliver financial services. Whether you know it or not, you’re probably using some sort of fintech application right now, like Zelle or Venmo.

Fintech applications include payment apps such as PayPal or Apple Pay, robo-advisors and P2P, lending and investment apps and cryptocurrency. While fintech should not be confused with a lending institution such as a traditional bank, most banks today use some form of fintech.

New York City is the financial market capital of the world, so it is natural that it is also the fintech capital. The fintech market in NYC is exploding, and that includes fintech startups.

Fintech Deal Day powered by Benzinga will be held on December 8, 2022 at the luxurious Pier Sixty in New York City. Dozens of fintech leaders appearing at Fintech Deal Day include Catherine Clay by Cboe Global Markets, Daniel Pipitone by TradeZero and Richmond Bassey of bamboo.

New York City Fintech Startups

The world of fintech is exciting, and nowhere more so than fintech startups. According to CB Insights’ 2021 State of Venture report, a record $132 billion in funding was raised in 2021 for fintech.

Of that $132 billion, $53 billion was raised for startup fintechs in NYC alone. Here are five fintechs from the Big Apple to watch:

Volant Trading

Volant Trading provides technology, trading and execution services in markets worldwide. The platform is designed to be used by professional traders via the company’s software and technology applications. Volant software technology analyzes data and discovers opportunities where it can trade and produce value derivative sets. The company is based in NYC.

Teampay

Teampay specializes in controlling employee expenses for small and medium-sized businesses. The Teamplay platform allows management to track and control these expenses. While this adds value to your business, the real value Teampay provides is the ability to feed data directly into accounting programs such as Quickbooks, allowing for a more in-depth analysis of your business’ spending habits.

Alloy

Founded in 2015, Alloy develops a powerful identity verification platform primarily used to help companies detect fraud. The platform is mainly used by banks, helping them make identity management easier and more efficient. The company has 164 employees in NYC alone.

Chain analysis

Chainalysis works with government agencies, banks and businesses to provide blockchain data and analytics. The blockchain-based data platform helps transform fintech by providing the tools for risk management, compliance and investigation. The company was founded in 2014.

Venmo was founded in 2009.

Political genius

Policygenius is not an insurance company. Instead, using modern software technology, it is the country’s leading online insurance market. Founded in 2014, the online insurance broker offers all types of insurance, including life, home, health, long-term disability, auto and pet insurance. Policygenius helps customers get the best offers from more than one company within minutes.

Photo via Shutterstock.