Combining new banking concepts and ideas with groundbreaking technology, fintech is revolutionizing the finance industry, with exciting new startups delivering innovative products for small business owners. From payroll to cybersecurity to investment, there is a fintech solution to virtually every problem. Here we look at 10 promising fintech startups to watch in 2021.
1. Spring Labs
Based in Marina Del Rey, California, Spring Labs leverages blockchain and real-time data ledger technology to provide a secure platform for transferring information between businesses. Spring Labs helps its business clients to reduce instances of fraud by validating identities through a range of different products and income stability indicators. The platform streamlines the credit transaction approval process while simultaneously protecting consumer data.
Specifically for e-commerce, tech, and life sciences companies, Brex is a corporate credit card company that offers credit limits 10 to 20 times higher than its rivals. Brex also offers increased reward points on qualifying business purchases.
Brex offers a comprehensive suite of financial services and products for entrepreneurs, including business accounts and spend management. Compatible with a variety of other software products including Gusto, Expensify, Xero, Concur, and QuickBooks, Brex enables clients to streamline expense management and sync expense-related data in real-time.
LendUp is an affordable alternative to payday loans, offering a quick online application process and instant decisions 24/7. The company also offers a series of online tutorials, free of charge, aimed at helping users to boost their financial acumen so that they can make smarter spending choices.
Based in San Francisco, TrueAccord uses the power of machine learning to help companies collect debts in a way that benefits both them and the customer. Instead of sending debt collectors or cold calling, TrueAccord uses modern modes of communication such as push notifications and texts to boost engagement and payback rates.
TrueAccord works with customers who have outstanding debts, providing a customizable payment platform for them to select achievable payment arrangements.
Stripe enables business owners to send and accept global payments. It facilitates payments for both online and in-person retailers, as well as subscriptions businesses, marketplaces, and software platforms.
Stripe helps companies to send invoices, reduce fraud, access funding, issue physical and virtual cards, manage business spend, and much more.
With offices in San Francisco, New York, Seattle, and London, PitchBook is a leading financial data and software company. Serving clients in 19 languages, PitchBook provides comprehensive data on public and private markets to help clients identify and execute opportunities with confidence.
Founded by John Gabbert, PitchBook places customers at the center of an experienced support network that is focused on helping them to make more strategic, data-driven decisions. From onboarding to data analysis to business strategy, PitchBook’s customer success team supports clients through live chat, ensuring they are taking full advantage of the platform to learn best practices and receive additional training and actionable advice.
Based in New York, Riskified is an AI-powered platform that protects e-commerce sites, helping them to distinguish between legitimate shoppers and fraudsters. Riskified provides a variety of different tools, including dynamic checkouts, chargeback guarantees, and alternative payment processing, helping to convert visitors into customers.
The platform’s pre-authorization and ATO prevention solutions fix leaks in e-commerce purchase funnels while simultaneously strengthening customer relationships.
8. Juniper Square
Juniper Square’s groundbreaking software delivers powerful tools specially designed for the real estate industry, simplifying fundraising, investment administration, and investor reporting tasks.
Having managed over 10,000 real estate transactions to date, Juniper Square streamlines compliance, CRM, reporting, data security, and payments, providing an easy-to-navigate investor portal for sharing investment performance data and important documents.
Headquartered in Chicago, Illinois, Morningstar offers an array of services and products that provide everyday investors with access to professional-grade financial information and research, allowing them to make smarter investment decisions.
CEO Kunal Kapoor explores the elements of great investing advice on the Morningstar website, explaining that since its inception, the company has seen how high-quality investment advice empowers investors to reach their investment goals. Driven by high-quality data, Morningstar presents information in an easy-to-understand way, using elegant design to communicate complex ideas.
LendingClub connects individuals and businesses with potential investors. Users can apply for a LendingClub loan in minutes, customizing loan options including the rate, term, and payment options. To date, more than 3 million people have used the platform, securing loans for a variety of different purposes, from medical bills to home improvements to debt consolidation.
Partnering with Accion Opportunity Fund, LendingClub connects business owners with a network of lenders. Offering business loans of up to $500,000, LendingClub provides small business owners with a dedicated client advisor to guide them through the loan application process.