Top 10 New York Fintech Companies

From automated investing and blockchain technology to alternative investments and AI-driven fraud prevention, these leading fintech companies in New York City are transforming financial services and shaping the future of finance. Let’s take a look at how these firms are democratising access, enhancing efficiency, and driving the global fintech revolution. 

Table of contents

1. Introduction
2. The fintech landscape of New York City
3. Top 10 New York fintech companies
4. The future of fintech 
5. What is happening in the fintech world
6. Conclusion
7. FAQs

New York City, known as a global financial hub, has become a leading centre for fintech innovation, combining traditional finance with advanced technology. In 2024, the city is home to over 1,500 active fintech startups, including 35 unicorns. These companies are playing a key role in reshaping the financial industry worldwide. In 2022 alone, New York's fintech sector attracted $10.4 billion in venture capital investments across 502 deals, and the numbers have continued to grow with ongoing advancements.

The city's success in this sector is supported by its large pool of skilled professionals, its proximity to major financial institutions, and its reputation as a hub for technological progress. The fintech companies in New York offer diverse solutions, including platforms for managing investments, payment systems, and innovations in blockchain technology. Additionally, venture firms based in the city have raised 110 new funds totalling $23.3 billion, reinforcing New York’s status as a global leader in fintech.

This dynamic and innovative environment is driving change across the financial sector. From new startups challenging traditional banking to established firms adopting AI and blockchain technology, the city’s fintech landscape reflects growth and transformation. This article highlights the top 10 companies leading this exciting development.

The fintech landscape of New York City

New York City has firmly established itself as a leading global fintech hub, growing rapidly to become the fastest-growing fintech market in the United States and the second largest in the world, just behind Silicon Valley. The city is home to a thriving ecosystem of over 1,500 active fintech startups, including 35 unicorns. According to Statista, the United States hosts more than 11,500 fintech startups, with New York commanding a significant share of this innovative sector.

In 2022 alone, NYC-based fintech firms attracted over $10.4 billion in venture capital investments across 502 deals, underscoring the city's dominance in the fintech investment landscape. 

Moreover, New York’s fintech ecosystem is driving efforts to democratise financial access. Startups are championing financial equity, making services accessible to underserved communities and promoting inclusivity in the financial sector.

With its unparalleled access to capital, talent, and cutting-edge innovation, New York continues to lead the charge in transforming financial services, reinforcing its legacy as a global financial epicentre.

Here are the top New York fintech companies shaping the financial landscape of the region:

Top 10 New York fintech companies

1. Betterment

Betterment, founded in 2008, has become a leader in automated investing and wealth management. The platform provides algorithm-driven financial advice tailored to individual goals, helping users optimise returns while managing risks. Betterment pioneered goal-based investing, offering features such as retirement planning, tax-loss harvesting, and diversified portfolio management.

With over $33 billion in assets under management (AUM) as of 2024, Betterment serves a broad customer base, including retail investors and businesses. Its intuitive interface and competitive pricing have made wealth management accessible to a wider audience, democratising financial planning and investment solutions. Betterment also offers Betterment for Business, a service designed for company-sponsored retirement plans, and Betterment for Advisors, which supports financial professionals.

2. OnDeck

OnDeck, established in 2007, revolutionised small business lending by simplifying the application and approval process. The company specialises in providing short-term loans and lines of credit to small businesses, leveraging advanced data analytics and machine learning to evaluate creditworthiness swiftly. OnDeck has funded over $13 billion in loans to businesses globally, making it a trusted resource for entrepreneurs seeking quick access to capital.

Its key products include the OnDeck Term Loan, which provides up to $250,000 in funding, and the OnDeck Line of Credit, offering businesses flexible financing options up to $100,000. OnDeck's technology enables loan approvals within hours, catering to businesses across industries that may face challenges with traditional financing methods. Its innovative approach empowers small enterprises to thrive in competitive markets, cementing its role as a crucial player in the fintech lending space.

3. Axoni

Axoni, founded in 2013, leads the way in blockchain solutions tailored for financial institutions. The company focuses on distributed ledger technology (DLT) to improve the efficiency, transparency, and accuracy of post-trade processes. Axoni is best known for its work in equity swaps and its flagship product, AxCore, which powers financial applications with secure, scalable, and real-time data-sharing capabilities.

Axoni has collaborated with major banks, asset managers, and infrastructure providers, facilitating billions in transaction value. Its contributions to automating and streamlining post-trade workflows position it as a critical innovator in modernising capital markets.

4. YieldStreet

YieldStreet, launched in 2015, is a platform that brings alternative investments to individual investors, offering opportunities beyond traditional stocks and bonds. Its portfolio includes real estate, art financing, private credit, and legal settlements, enabling diversification for retail investors.

The platform operates with a mission to democratise institutional-grade investment opportunities. YieldStreet has helped investors deploy over $3 billion into alternative asset classes, offering returns ranging from 7% to 12% annually. Its curated investment options and transparent fee structure make it an attractive choice for those aiming to diversify their portfolios.

5. Riskified

Founded in 2012, Riskified harnesses artificial intelligence to protect e-commerce businesses from fraud. The platform analyses transactions in real time, distinguishing legitimate customers from fraudulent activity. This capability has helped reduce chargebacks and increased conversion rates for merchants.

Riskified processes transactions worth billions annually, serving clients across industries like fashion, travel, and electronics. Its flagship services include Account Protection, Chargeback Prevention, and Payments Authorisation. By ensuring secure and seamless transactions, Riskified is revolutionising fraud prevention in the fintech industry.

6. OpenFin

OpenFin, established in 2010, is often referred to as the "operating system for financial services". The platform provides a unified environment for desktop applications, enabling seamless communication and interoperability between tools. OpenFin is widely used by traders, portfolio managers, and other financial professionals to boost productivity.

Its products include OpenFin OS, which supports legacy system integration, and Workspace, a tool for enhancing user workflows. OpenFin is trusted by over 2,400 banks and asset managers worldwide, helping financial institutions modernise their technology stacks without sacrificing operational compatibility.

7. Policygenius

Policygenius, founded in 2014, simplifies the insurance-buying process with its digital marketplace. The platform offers tailored recommendations for life, health, home, and auto insurance, combining advanced algorithms with human expertise.

Policygenius has served over 30 million users, helping them compare policies and save money. Its standout features include needs analysis tools, real-time price comparisons, and a user-friendly interface. Policygenius’s commitment to transparency and customer education has earned it a trusted reputation in the fintech insurance space.

8. SeedInvest

SeedInvest, launched in 2012, is a leading platform for equity crowdfunding, connecting startups with investors. The company has facilitated over $400 million in investments for 250+ startups, enabling entrepreneurs to raise capital efficiently.

SeedInvest stands out with its rigorous vetting process, accepting less than 2% of startups that apply. Its services include startup funding, investor matchmaking, and compliance support, offering confidence to both entrepreneurs and investors. SeedInvest is shaping the startup ecosystem by bridging the gap between innovators and backers.

9. Better

Founded in 2016, Better transforms the home-buying process with its digital-first approach to mortgage loans, insurance, and title services. By automating the traditionally complex and paper-heavy real estate process, Better delivers faster approvals and a transparent user experience.

The company has funded over $100 billion in home loans, helping thousands of customers achieve homeownership. Its platform also features Better Real Estate, connecting users with agents, and Better Settlement Services, ensuring seamless transactions. Better's commitment to innovation has made it a standout in the property fintech sector.

10. Ocrolus

Ocrolus, founded in 2014, blends artificial intelligence with human oversight to revolutionise document analysis for financial services. The platform automates data extraction and validation from bank statements, tax returns, and other financial documents, achieving nearly 99% accuracy.

Ocrolus serves clients across lending, insurance, and payments, including major institutions like PayPal and LendingClub. Its key products include Core Processing, which accelerates underwriting decisions, and Ocrolus+, a solution for custom data workflows. By improving efficiency and reducing errors, Ocrolus exemplifies fintech's potential to transform operations in financial services.

The future of fintech in the era of AI

The future of fintech is brimming with potential, driven by the evolution of technology and a growing appetite for innovation in financial services. As we look ahead, artificial intelligence (AI) and machine learning (ML) are expected to play even greater roles. From hyper-personalised financial recommendations to advanced fraud detection systems, AI is set to make financial services smarter, faster, and more secure.

Blockchain, which once seemed like the exclusive domain of cryptocurrency enthusiasts, is now redefining how transactions are processed globally. Decentralised finance (DeFi) platforms are reshaping how people borrow, lend, and invest, bypassing traditional intermediaries to offer faster often cheaper, solutions. Meanwhile, tokenisation—the process of creating digital representations of real-world assets—is opening up new avenues for investment, from real estate to art.

Another emerging trend is the rise of embedded finance, where non-financial companies integrate financial services directly into their platforms. Think of ride-hailing apps offering loans to drivers or e-commerce platforms providing instant credit to shoppers. This seamless integration enhances customer experiences and creates new revenue streams for businesses.

Sustainability is also becoming a cornerstone of fintech’s future. Green fintech solutions are promoting ethical investments, reducing the environmental impact of banking processes, and enabling individuals to track their carbon footprints through financial decisions.

As 5G technology enhances connectivity, fintech firms will continue to expand their reach to underserved markets, making financial services more accessible in regions where they were previously unavailable. In this future, fintech isn’t just about convenience—it’s about creating a world where financial opportunities are equitable, secure, and boundless.

What’s happening in the fintech world

The fintech industry is evolving at breakneck speed, with innovations transforming financial ecosystems worldwide. Across continents, fintech is breaking barriers and rewriting the rules of finance.

In Asia, China continues to dominate with its colossal fintech market, anchored by giants like Ant Group and Tencent. The rapid adoption of digital wallets and super-apps has turned China into a cashless society. India, meanwhile, is experiencing a fintech boom, with government-backed initiatives like UPI (Unified Payments Interface) driving financial inclusion and startups like PhonePe and Razorpay leading the way.

Europe is a thriving hub of fintech innovation, particularly in the UK, which remains a leader despite Brexit-related uncertainties. London-based firms like Revolut and Wise are revolutionising banking and cross-border transactions, while the European Union pushes for open banking regulations to encourage competition and innovation.

In the United States, fintech investment continues to soar, particularly in Silicon Valley and New York. The focus is shifting toward decentralised finance (DeFi) and embedded finance, where non-financial platforms integrate financial tools seamlessly. Latin America is another rising star, with countries like Brazil and Mexico leveraging fintech to address long-standing challenges around financial inclusion. Companies such as Nubank and Clip are empowering millions who previously lacked access to banking services.

Africa, often seen as the final frontier for fintech, is making remarkable strides. Mobile money platforms like M-Pesa have transformed how payments are made, and startups in Nigeria and Kenya are building solutions that cater specifically to local needs.

On a global scale, regulatory frameworks are evolving to keep pace with fintech’s growth. Governments are working to strike a balance between fostering innovation and ensuring consumer protection. Additionally, the rise of cross-border fintech collaborations hints at a more interconnected future, where global payments, investments, and lending transcend traditional boundaries.

Fintech today is more than an industry; it’s a movement reshaping economies, breaking down barriers, and paving the way for a more inclusive financial world.

FAQs

1. What is fintech?
Fintech, short for financial technology, refers to the use of technology to improve and automate financial services. This includes areas like digital payments, lending, investment management, and blockchain applications.

2. Why is New York City a fintech hub?
NYC’s status as a global financial centre, combined with its access to tech talent, venture capital, and regulatory bodies, makes it a natural hub for fintech innovation.

3. How can I invest in fintech companies?
Investing in fintech companies can be done through public markets (if the company is publicly traded), venture capital funds, or platforms like SeedInvest that offer equity crowdfunding opportunities.

4. What trends are shaping the fintech industry in 2024?
Key trends include the adoption of blockchain for secure transactions, the integration of AI in fraud prevention and customer service, and the rise of alternative investments accessible through digital platforms.

5. How do fintech companies impact everyday consumers?
Fintech companies enhance convenience, reduce costs, and improve accessibility in financial services, making it easier for individuals to manage their finances, secure loans, and invest for the future.