57 promising fintechs building the behind-the-scenes tech revolutionizing Wall Street

From left: Karim Atiyeh and Eric Glyman of Ramp, Shuo Wang of Reel, Stephany Kirkpatrick of Orum, and Richie Serna of Finix with orange pixellated dollar signs patterned out on a light blue background

Summary List PlacementAirbase

Cited by: GGV Capital

Total raised: $90.5 million, according to Crunchbase

What it does: Airbase focuses on spend management, combining approval workflows, corporate cards, bill pay, accounting automation, and reporting.

Why it’s promising: “Airbase is building next-generation cloud-based spend-management software. This doesn’t sound sexy, but is in a broad category getting a ton of funding and attention — Brex, Divvy, Airbase, and others are reinventing the way corporations manage their spend. Thejo Kote, founder of Airbase, is a repeat founder I got to know many years ago and believe has what it takes to build a special company,” said Jeff Richards, managing partner at GGV Capital.

Alchemy

Cited by: DFJ Growth (investor)

Total raised: $95.5 million

What it does: Alchemy provides developers the infrastructure and tools to build distributed applications on ethereum and other blockchains.

Why it’s promising: “Alchemy powers the top blockchain companies globally, including the majority of the largest NFT marketplaces and decentralized-finance apps. They support developers across multiple chains and are poised to grow with the industry as more use cases become mainstream. Alchemy is powering over $30 billion in on-chain transactions for tens of millions of end users around the world,” said Sam Fort, partner at DFJ Growth.

Alpaca

Cited by: CapitalX (investor)

Total raised: $21.8 million

What it does: Alpaca offers application-programming interfaces, or APIs, for stock trading that enable developers to access features like algorithmic trading, brokerage services, and market data.

Why it’s promising: “Their API is supported by the infrastructure that processes more than a couple of billion dollars of trading volume every month,” said Cindy Bi, general partner at CapitalX.

Altruist

Cited by: Insight Partners (investor)

Total raised: $58.5 million

What it does: Altruist provides brokerage services and portfolio-management software to registered investment advisors (RIAs). 

Why it’s promising: “Altruist has a world-class SaaS application that ultimately improves the well-being of consumers, while providing a next-gen offering for RIAs. Altruist’s vision requires both deep fintech innovation and empathy toward not only its RIA customers, but also their end clients,” said Jon Rosenbaum, principal at Insight Partners.

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Check out Altruist’s Series B pitch deck.

Balance

Cited by: Activant Capital

Total raised: $5.5 million

What it does: Balance facilitates e-commerce payments between businesses. 

Why it’s promising: “Checkout will be a major driver of B2B e-commerce growth. It combines multi-rail payments with digital identity, which unlocks complex business transactions that include credit, approvals, and siloed data. The team at Balance are leading the charge and are well positioned to dramatically expand B2B e-commerce more broadly.” said Steve Sarracino, founder and partner at Activant Capital.

Beacon Platform

Cited by: Centana Growth Partners (investor)

Total raised: $41 million

What it does: Beacon Platform offers apps and tools for financial institutions to quickly analyze risk, build quantitative models, and improve operations.

Why it’s promising: “The founders bring lessons learned from almost 20 years of experience developing trading and risk-management systems for some of the world’s largest investment banks. Beacon delivers the robustness and flexibility of these powerful tools, with ease of building or integrating in-house analytics and extensions on the Beacon Platform, validated by a rapidly increasing list of financial-institution customers around the globe,” said …read more

Source:: Business Insider – Tech

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