New York City is one of the key innovation hubs not just in the United States but also worldwide.
The fintech sector in New York has been developing in recent years. Only in 2023, the NY fintech sector had close to $4.7 billion in investments.
Read on to discover the top 30 startups and fintech companies in New York.
Plus, we’ll cover some tips for business owners who want to stay competitive.
Importance of Fintech in New York City
Fintech firms and startups are not just driving innovation in any country. They also enhance the country’s economy.
With a total of over 10,000 fintech companies in the U.S., NYC covers more than 1000 of them. So they are one of the main factors in the city’s economy.
Fintech entrepreneurs can succeed in this market.
However, it requires strategic planning, a solid business model, and effective budget management.
Now, let’s explore 30 key players in a growing ecosystem. Each uniquely shapes the future of finance.
1. Plaid
Plaid makes it easy to link bank accounts to apps and services. It helps consumers connect their financial data securely.
All in all, Plaid’s APIs are used by over 11,000 apps, including Venmo and Robinhood.
The company is the cornerstone of the fintech ecosystem. It provides the infrastructure for many personal finance apps.
- Industry: Financial services, APIs
- Founded date: 2013
- Number of employees: 1,000+
- Implements Corporate Social Responsibility: Yes
2. Betterment
Betterment is one of the best fintech startups in New York. It manages over $33 billion in assets for more than 700,000 customers.
Plus, the company helps users grow their wealth. It offers automated investing and financial planning.
- Industry: Robo-advisory
- Founded date: 2010
- Number of employees: 350+
- Implements Corporate Social Responsibility: Yes
3. Stash
Stash provides a platform for users to invest in stocks, ETFs, and even cryptocurrency for as little as $5.
With over 6 million users in the U.S. alone, Stash focuses on making investing accessible for everyone.
- Industry: Personal finance, Investing
- Founded date: 2015
- Number of employees: 350+
- Implements Corporate Social Responsibility: Yes
4. Chainalysis
Chainalysis offers blockchain analytics for law enforcement agencies, financial institutions, and regulators.
This is one of the best fintech companies in New York. They work with the FBI and IRS to track illegal cryptocurrency transactions and prevent fraud.
- Industry: Blockchain, Compliance
- Founded date: 2014
- Number of employees: 700+
- Implements Corporate Social Responsibility: Yes
5. N26
N26 has raised over $900 million in venture capital. It offers mobile banking solutions, with a focus on transparency and convenience.
The company offers a fee-free banking app that competes with traditional banks.
- Industry: Digital banking
- Founded date: 2013
- Number of employees: 1,500+
- Implements Corporate Social Responsibility: Yes
6. Ramp
Ramp is another fintech startup in New York. They offer a corporate card platform that focuses on helping businesses manage expenses and improve ROI.
Ramp’s software integrates accounting, budgeting, and payment solutions.
- Industry: Corporate card, Expense management
- Founded date: 2019
- Number of employees: 500+
- Implements Corporate Social Responsibility: Yes
7. Figure
Figure leverages blockchain technology to offer loans and financial services.
The startup makes loans faster and more transparent than banks do.
Figure processed more than $1 billion in loans in its 1st year of operation.
- Industry: Blockchain, Lending
- Founded date: 2018
- Number of employees: 400+
- Implements Corporate Social Responsibility: Yes
8. Gemini
Gemini was one of the first exchanges licensed to operate in New York under its strict crypto rules.
It’s a cryptocurrency exchange that allows users to buy, sell, and store digital assets.
- Industry: Cryptocurrency exchange
- Founded date: 2014
- Number of employees: 700+
- Implements Corporate Social Responsibility: Yes
9. Carta
Carta is changing how companies and investors manage equity and track cap tables. It manages more than $575 billion in equity for companies across various sectors.
After all, Carta’s software makes it easier to manage company equity. It helps startups track investments and ownership.
- Industry: Cap table management
- Founded date: 2012
- Number of employees: 1,000+
- Implements Corporate Social Responsibility: Yes
10. Current
Current is a digital bank for Gen Z and millennials with over 4 million members. It offers no-fee accounts, faster direct deposits, and cash-back rewards.
Their mobile-first approach makes them a strong competitor in the space.
- Industry: Digital banking
- Founded date: 2015
- Number of employees: 300+
- Implements Corporate Social Responsibility: Yes
11. Vise
Vise uses artificial intelligence to help financial advisors manage portfolios.
This platform gives advisors data-driven insights. It helps users decide on their investments that are based on the $60 million in venture funding.
- Industry: AI, Wealth management
- Founded date: 2016
- Number of employees: 100+
- Implements Corporate Social Responsibility: Yes
12. Petal
Petal is one of the top fintech companies in New York. It offers credit cards aimed at customers with limited credit histories. They use machine learning to offer credit-building tools.
So they don’t rely on traditional credit scores.
- Industry: Consumer credit
- Founded date: 2016
- Number of employees: 200+
- Implements Corporate Social Responsibility: Yes
13. Ladder
Ladder provides life insurance services. Its algorithm generates life insurance offers in under five minutes.
No hidden fees or complicated paperwork.
- Industry: Life insurance
- Founded date: 2015
- Number of employees: 100+
- Implements Corporate Social Responsibility: Yes
14. Yieldstreet
Yieldstreet provides alternative investment opportunities previously unavailable to the average investor.
With over $1.5 billion in investments to date, it spans industries like art, real estate, and marine finance.
- Industry: Alternative investments
- Founded date: 2015
- Number of employees: 250+
- Implements Corporate Social Responsibility: Yes
15. OnDeck
OnDeck offers small business loans to entrepreneurs. It has issued over $13 billion in loans.
This fintech company offers loans to those who struggle with traditional loans.
- Industry: Lending
- Founded date: 2006
- Number of employees: 700+
- Implements Corporate Social Responsibility: Yes
16. Acorns
Acorns helps users save and invest spare change from everyday purchases.
The app rounds up transactions to the nearest dollar. It invests the difference in diversified portfolios.
- Industry: Micro-investing
- Founded date: 2012
- Number of employees: 450+
- Implements Corporate Social Responsibility: Yes
17. Oscar Health
Oscar Health is another great fintech startup. It went public in 2021 and raised $1.2 billion in its initial public offering.
The company offers individual, family, and Medicare Advantage plans.
- Industry: Health insurance
- Founded date: 2012
- Number of employees: 1,600+
- Implements Corporate Social Responsibility: Yes
18. SoFi
SoFi began as a student loan refinancing company.
It recently became a bank by acquiring a national bank charter. It now offers personal loans, investing, and insurance.
- Industry: Lending, Personal finance
- Founded date: 2011
- Number of employees: 2,500+
- Implements Corporate Social Responsibility: Yes
19. Brex
Brex offers corporate cards specifically tailored for startups.
The company, worth $12.3 billion, helps startups manage expenses and budgets.
- Industry: Corporate card, Expense management
- Founded date: 2017
- Number of employees: 1,000+
- Implements Corporate Social Responsibility: Yes
20. Square
Square was founded by Jack Dorsey, the co-founder of Twitter. It provides payment solutions for small businesses and entrepreneurs.
The company also provides software for payroll, accounting, and other business functions.
- Industry: Payments
- Founded date: 2009
- Number of employees: 8,000+
- Implements Corporate Social Responsibility: Yes
Conclusion
New York’s fintech firms and startups have greatly expanded its tech sector.
They are vital to New York’s economy.
Fintech is anticipated to see substantial growth in the next few years. Be sure to check back often as we will update this list for you.
