San Francisco’s 3 FinTechs that are leading innovation
By Edlyn Cardoza
The pandemic had a drastic effect on various sectors of life. Still recovering from the impact of the Coronavirus, how does the financial services industry look like currently in the San Francisco region? As the FinTech industry continues to mature and grow in volume and valuation, many of these early startups are poised to be acquired or publicly launched. Across various verticals, like insurance, payments, etc., below are 3 of the top FinTechs to keep an eye on as they make innovative changes to the banking industry:
Alt: Alt, founded recently in the year 2020, is a platform that encourages its users to take complete advantage of alternate ways for investment, allowing the users to buy and sell cards in similar ways to the stock market.
Alt is making the understanding valuation of assets in real-time and facilitating trades with users simple, with liquidity and loan-against-portfolio services available from Alt. Users send their cards for authentication and valuation purposes but are offered safe-keeping and storage at no extra charge. Alt’s valuation is seen at $31 M.
Brex: Brex, founded in 2017, is a credit card company that designs specifically only tech companies and startups of all industries and sizes. In the beginning, Brex offered corporate cards for startups and entrepreneurs only. Now, the company has expanded to provide a complete suite of banking services, inclusive of a cash management account (Brex Cash).
Brex’s cards also have certain rewards towards expenses of subscription, travel, or transportation. With its application for an industrial bank in Utah in process, Brex is on its way to becoming a licensed entity. The San Francisco based FinTech was founded by entrepreneurs Henrique Dubugras and Pedro Franceschi, which is valued at over $7B.
Finix: Finix was founded in the year 2015. This company helps SaaS businesses, marketplaces, marketplaces, and ISVs, of all kinds reduce the headache and time that usually tag along with bringing payments in the house. Finix is a payment infrastructure platform that lets companies manage, own and monetize their costs experience via debit and credit card processing.
Finix is determined to exceed global data security standards while also adapting to constant changes in regulatory requirements. The San Francisco based company, founded by Richie Serna (CEO) and Sean Donovan, had achieved 3x growth last year in volume. The company is valued at $450M.
IBSi Daily News Analysis
September 29, 2023
Banking is becoming byte-sized with rise of Embedded Finance, Temenos study showsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage