5 fastest growing FinTech companies in New York City

By Pavithra R

New York City, being the largest metropolitan statistical area in the U.S, automatically have a lot of fast-growing companies and startups. Below is a list of 5 fast-growing FinTech companies based in New York.

BlockFi (2017)

BlockFi’s platform offers investors unparalleled capabilities in the digital asset ecosystem. The firm is dedicated to building a bridge between cryptocurrencies and traditional financial and wealth management products. The BlockFi Interest Account (BIA) enables users to earn compound interest in the asset-type they deposit. Clients using the BIA can earn compound interest in crypto, significantly increasing their Bitcoin, Ether, Litecoin, PAX Gold, USD Coin (USDC), Gemini Dollar (GUSD) and USDT (outside of U.S.) balances over time.

Recently, the FinTech completed its $350mn Series D funding round led by new investors, including Bain Capital Ventures, partners of DST Global, Pomp Investments, and Tiger Global. The funding values the company at $3bn.  BlockFi is a fast-growing company. Since the end of 2019, it has seen its client base grow from 10,000 to more than 225,000 today. Monthly revenue currently exceeds $50 mn, and the company now boasts more than $15 bn in assets on its platform, with a 0% loss rate across its lending portfolio since inception. 

Pagaya Investments (2016)

Pagaya is a global FinTech company using artificial intelligence (AI) to reshape asset management and institutional investment. The firm has has forged a new approach to alternative, data driven investment management in the fixed income and alternative credit markets through development of a proprietary technology suite including advanced machine learning technologies and big data analytics. Focusing on fixed income and alternative credit, the firm offers a variety of discretionary funds to institutional investors (including pension funds and sovereign wealth funds), insurance companies and banks.

The firm has built its first comprehensive loan-level database utilizing a hybrid of ML and financial technologies designed to produce low-risk, high-yield portfolio strategies, resulting in above-market returns. Pagaya is backed by leading fintech investors, including Oak HC/FT, Viola Ventures and former Amex Chairman Harvey Golub.

iCapital Network (2013)

iCapital Network’s mission is to power the world’s alternative investment marketplace. Its financial technology platform has transformed the way alternative investments are bought and sold through the development of tech-based solutions for advisors, their high-net-worth client base, asset managers and banks. The firm’s flagship platform offers advisors and their clients access to a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment.

The firm was built with the goal of making high-quality alternative investments accessible to wealth advisors and their high-net-worth investors, and enabling fund managers to reach new sources of capital.

Chainalysis (2014)

Chainalysis is a blockchain analysis company offering cryptocurrency investigation and compliance solutions to global law enforcement agencies, regulators, and businesses to fight illicit cryptocurrency activity. The company serves as a strategic partner to financial institutions, governments, and cryptocurrency businesses, across 50 countries providing data, investigation software, transaction monitoring solutions, Compliance and expertise on sophisticated cryptocurrency crime and money laundering tactics, techniques, and procedures.

The firm recently announced $100 mn funding at over $2 bn valuation. Backed by Benchmark and other leading names in venture capital, Chainalysis builds trust in blockchains. The firm has collaborated with many customers and partners across government and commercial enterprise to make cryptocurrency a legitimate and trusted part of the global financial system. 

Even Financial (2014)

Even Financial is a B2B  FinTech company connecting consumers to personalized offers for loans, savings, credit cards, and more with its API service. It seamlessly bridges the gap between FIs and Channel partners. Even provides essential infrastructure for financial services and channel partners, connecting consumers to personalized products, with a robust API.

According to company data, the firm has raised more than 50 million in funding. The company’s acquisition of Birch helped them in accelerating its expansion into credit cards. The firm provides essential infrastructure for financial services and channel partners, proven to lower cost of acquisition, improve monetization, monitor compliance and deliver transparency at scale.

Also read: US Financial Services Technology Market Overview