New York City has been a finance capital for decades, and the emergence of fintech startups has changed the face of the industry. As a result, there are now more fintech startups in NYC than ever before. So, to keep up with the latest and greatest in the fintech space, we’ve rounded up a list of the most promising NYC-based fintech startups to watch in 2022.
2022 Fintech Startup Trends
Fintech (Finance + Technology) marries two of the most powerful elements of the business world. They are attracting significant investments, too. For instance, in 2021, venture-backed NYC companies raised $52.3B in seed, corporate, venture and private equity funding, according to Crunchbase. Moreover, the same trends predicted for 2022 and onward don’t seem to be slowing down anytime soon.
On the other hand, not all fintech startups are created equal. To be a truly valuable investment, fintech startups typically need to find novel ways to solve common problems to be a stellar investment. That’s why many successful startups offer services accessible to the general population.
These 5 NYC fintech startup companies are solving problems that everyone faces every day, but with a particular elegance and skill that is likely to bring them continued success.
Founded in 2014, Chainalysis provides blockchain data and analysis to government agencies, businesses and banks globally.
Their blockchain-based data platform is transforming fintech by providing powerful tools for accomplishing investigation, compliance and risk management. Their platform has been instrumental in solving some of the world’s most high-profile cybercriminal cases.
Chainalysis has raised a total of $366.6M in funding over 9 rounds from 26 investors, including GIC and 9Yards Capital.
Alloy was founded in 2015, and they are a developer of a powerful identity verification platform used to detect fraud and make identity management effective and straightforward for banks. The fintech business employs 164 people locally and 205 people globally.
Meanwhile, the business’s API is changing fintech by connecting banks and fintech customers to the correct data. In addition, their automated decision-making tools streamline the onboarding process for their clients, allowing them to spend more time with their meaningful customers and less time trying to chase down and overcome fraudulent activity.
The company has raised $155.8M in total funding over nine rounds. Their most recent investors were Avid Ventures and Felicis Ventures.
Venmo is a popular person-to-person payments app founded in 2009. It allows users to transfer money to one another via their mobile phones. It employs 100 employees locally.
The app has been a game-changer in fintech by making it easy for friends and family to split bills or pay each other back for shared expenses.
Braintree bought the company in 2012, and Paypal later bought them out. The fintech company scored $1.3M funding in 2011.
One of the most cumbersome processes for small-to-medium-sized businesses is controlling employee expenses. Teampay has developed a platform that allows managers and owners to confidently and conveniently track these expenses.
However, the real value of Teampay is in its ability to automatically feed data into accounting programs such as Quickbooks. Companies can also track spending on company credit cards, and the information is presented to accounting departments, allowing for in-depth analysis of spending habits.
Teampay currently has eight employee profiles, and that includes CEO Andrew Hoag. The fintech’s latest funding was raised in 2021, and they collected $21M during that time.
5. Volant Trading
Capital market trading firm Volant Trading uses its software and technology to disrupt the trading world. The fintech company provides trading, tech and execution services to worldwide markets, and their platform is designed for use by professional traders in the institutional space.
Volant has been a game-changer in fintech by providing its clients with a significant edge in speed and execution. Volant’s tech can analyze massive amounts of data to discover opportunities to trade opportunities and produce value derivative sets. Then, they can take the information they’ve amassed and globally stream quotes to anyone 24/7.
Everyone from traders to programmers hunkers down and works together at Volant to make their most innovative ideas a reality. The company is headquartered in New York City, and its total funding is undisclosed.
Let Saraval Industries Outfit Your Fintech Startup’s Needs
Saraval Industries is a full-service new and used technical furniture company located in the New York City area. We understand that the right type of furniture and setups are essential to innovation and collaboration, so we offer a wide variety of furniture to fit any need. From the trading and finance industry to other industries in fintech, we develop the best working environment for our clients because we know it’s the key to success.
With over 30 years of experience in the industry, we’re always up-to-date on the latest trends. Contact us at (516) 768-9033 today to learn more about how we can help you create the perfect working environment for your team.