26 Boston fintech companies shaking up finance

by Justine Hofherr
March 1, 2019

With its impressive spread of notable financial institutions such as Fidelity Investments and State Street Corp., along with numerous hedge funds and private equity firms, it’s no surprise that Boston has a robust financial industry. But as the city continues to grow its reputation as a hub for tech and innovation, Boston is also becoming known for its impressive fintech space. 

Collaborating with the legacy financial sector, local entrepreneurs are creating new ways for people to to invest, pay, save, and more. Many of these fintech startups are proving to be game-changers for areas like personal finance, cryptocurrency, investment management, trading, and lending. Below we’ve pulled out 25 fintech leaders, in addition to startups to keep an eye on. We’re bound to have missed some awesome companies, so please send us an email with any we missed.

 

bison fintech company boston
BISON

What they do: Bison provides software that efficiently analyzes and monitors private market data and funds.

How it’s changing fintech: Bison has built a new way for investors in private equity or venture capital to receive and review data from prospective and existing managers so that they don’t have to spend countless hours making manual datasets.

Founded: 2011

Funding: $1.34 million

 

domeyard fintech company boston
Domeyard LP

What they do: Domeyard LP is a hedge fund that focuses on high frequency trading. 

How it's changing fintech: Domeyard uses advances in high-performance computing and data analysis to implement trading algorithms across assets like equities, futures, fixed income, energy and commodities.

Founded: 2013

Funding: N/A

 

evertrue fintech company boston
EverTrue

What they do:  EverTrue empowers fundraising teams with web and mobile software that identifies and manages their prospects.

How it's changing fintech: Over 300 nonprofit institutions with a combined $17 billion of giving data rely on EverTrue's platform.

Founded: 2010

Funding: $14.57 million

 

Flywire fintech company boston
Flywire

What they do: Flywire (formerly peerTransfer) is a leading international payments processor that connects institutions with consumers on over six continents.

How it’s changing fintech: Flywire has revolutionized how international students can pay for tuition and health care and is now welcomed in 900+ colleges around the world.

Founded: 2009

Funding: $43.2 million

 

Forward Financing
Forward Financing

What they do: Forward Financing is a fintech company that provides fast, flexible working capital to US-based small businesses.

How it's changing fintech: They use own proprietary technology to provide same day funding to business owners who need quick access to working capital in order to succeed and grow. Since 2012, they have provided over $500m in funding to more than 10,000 small businesses.

Founded: 2012

 

levelup fintech company boston
LevelUp

What they do: LevelUp is a mobile app that lets users order ahead and pay with their phone, connecting them to more than 150,000 restaurants in a single place. The company’s mobile payment network also powers loyalty programs with rewards and promotions for frequented businesses.

How it’s changing finance: LevelUp makes takeout easier for customers, while helping businesses grow their loyalty and rewards programs.

Founded: 2008

Funding: $94.75M

 

kensho technologies fintech company boston
Kensho Technologies

What they do: Kensho is a data analytics and machine intelligence company that combines natural language search queries and secure cloud computing to create analytics tools that a wide range of investment professionals can use.

How it’s changing fintech: Basically, Kensho’s super intelligent computer systems answer even the most complex financial questions in plain English.

Founded: 2013

Funding: $57.8 million

 

vestmark fintech company boston
Vestmark

What they do: Vestmark provides SaaS technology for comprehensive portfolio management and trading solutions. 

How it's changing fintech: Vestmark is changing the financial advisory solutions industry with its innovative technologies and its clients currently manage over 1.7 million accounts with over $550 billion in assets under management. 

Founded: 2001

Funding: $50.4 million

 

plastiq fintech company boston
Plastiq

What they do: Plastiq makes it possible for business owners to use credit cards for virtually every payment (even for those that don’t usually accept card payment) in order to boost points and better manage working capital.

How it's changing fintech: Plastiq’s platform allows for business owners to pay everything from leases to taxes, freelancers and insurance with a credit card. All a business owner has to do on the platform is fill out payment information and Plastiq will relay their payment to the correct party via credit card.

Founded: 2012

Funding: $72.3 million

 

Midaxo
Midaxo

What they do: Midaxo is streamlining the mergers and acquisitions process with its software, which helps companies avoid risks, develop better deals and improve collaboration.

Founded: 2011

 

bondlink fintech company boston
BondLink

What they do: Bondlink provides products for the Municipal Bond Market. Their platform enables investors and issuers to connect across any device and is currently being used by multiple state and city governments including Florida, Georgia, Chicago and Detroit.

How it’s changing finance: Founded by a former issuer, Bondlink’s platform is transforming the market and ensuring more transparency between issuers and investors.

Founded: 2015

Funded: $12M

 

leaseq fintech company boston
LeaseQ

What they do: LeaseQ connects customers with instant quotes on equipment leasing, along with sources of financing, which users can apply for online. Equipment ranges from commercial fitness and tech, to construction and medical.

How it’s changing fintech: Equipment leasing quotes can take up to two days for customers to receive, so LeaseQ’s online marketplace drastically reduces the time companies waste leasing commercial equipment.

Founded: 2012

Funding: $3 million

 

elsen fintech company boston
Elsen

What they do: Elsen reduces the time it takes financial professionals and hedge fund managers to process data.

How it’s changing fintech: With a computing engine some 500 times faster than traditional processing units, Elsen drastically reduces the time it takes asset managers to extract and process intelligence from financial markets.

Founded: 2013

Funding: $750k

 

centage fintech company boston
Centage

What they do: Centage is the leading provider of automated, budgeting and planning software catered to small and mid-sized businesses.  

How it’s changing finance: Centage’s cost-effective and user-friendly solutions help companies move beyond Excel sheets and formulas, enabling them to produce more informed decisions and boost their ROI.

Founded: 2002

Funding: $23 million

 

goji fintech company boston
Goji

What they do: Using a combination of smart tech and human experience, online insurance agency Goji helps users find the right policy at the best price.

How it’s changing fintech: Goji’s licensed insurance agents guide users through their options of insurance companies, costs, and coverage levels in a matter of minutes.

Founded: 2007

Funding: $89.2 million

 

alphapack fintech company boston
AlphaPack

What they do: AlphaPack acts as your own financial advisor, managing your wealth better than any professional could. To do this, the automated investment adviser creates a portfolio that’s tailored to your values and finances, providing advice that could improve your financial outcomes.

How it’s changing fintech: Integrating with banks and insurance providers so they can offer automated wealth advisory services quickly to customers, AlphaPack also ultimately helps improve a company’s customer service and retention.

Founded: 2015

Funding: $20k

 

alt options fintech company boston
Alt-Options

What they do: Got Bitcoin? Alt-Options is the go-to platform for trading digital currency derivatives. Investors can use the startup’s pricing algorithm to make smarter trading decisions.

How it’s changing fintech: The founders of Alt-Options saw an opportunity to become an middleman in the emerging world of virtual currency. By connecting asset holders and investors with low-risk and low-cost strategies, Alt-Options solves the uber complex liquidity challenges virtual currency markets face.

Founded: 2014

Funding: $100k+

 

blueleaf fintech company boston
Blueleaf.com

What they do: Blueleaf uses clients’ financial information to help financial advisors build profitable relationships.

How it’s changing fintech: Financial advisors have struggled to keep up with the rate of change technology demands, but Blueleaf helps the wealth management industry keep up with other sectors.

Founded: 1999

Funding: $1.9 million

 

covestor fintech company boston
Covestor

What they do: Covestor (acquired by Interactive Brokers Group in April 2015) developed portfolio sync technology so investors can select investment management talents for online marketplaces.

How it’s changing fintech: Covestor is shaking up the investment management industry by letting investors easily compare and select from a transparent marketplace of investment management talent including top performing portfolio managers and successful investors.

Founded: 2005

Funding: $23.5 million

 

fundraise fintech company boston
Fundraise.com

What they do: Fundraise.com provides online fundraising software for nonprofits, politicans, and individuals.

How it’s changing fintech: The platform lets anyone make a donation in 5 minutes or less without providing personal information like your credit card or bank account information.

Founded: 2011

Funding: $1.2 million

 

quantopian fintech company boston
Quantopian

What they do: Quantopian helps smart, talented people get paid for writing investment algorithms that work. In addition to a browser for writing code, the platform also features research and data sets, and hosts competitions each month for the best algorithms.

How it’s changing fintech: The small startup has a novel approach to investing that encourages any nerd or hacker writing code to use their unique skillset to trade stocks or invest.

Founded: 2011

Funding: $273.8 million

 

socialsci fintech company boston
SocialSci

What they do: Socialsci provides an online community for academic researchers to collect data administering surveys and experiments.

How it’s changing fintech: Researchers using Socialsci save money using affordable research participants who are easily compensated with the platform’s built-in recruiting system and points.

Founded: 2012

Funding: $512k

 

trefis fintech company boston
Trefis

What they do: Trefis is an easy-to-use stock analysis service that breaks down a stock price by the contribution of a company's major products and businesses.

How it’s changing fintech: By simply dragging lines on charts, users of Trefis can transform complex data models into visual interactives that forecast the future price of products and their future expected market share.

Founded: 2007

Funding: $2.13 million

 

tripleshot fintech company boston
Tripleshot

What they do: Tripleshot helps institutional investor clients be more productive and successful by avoiding high-frequency traders and other market structure issues that typically cost them millions of dollars per year.

How it’s changing fintech: Though Tripleshot’s initial business was in U.S. stock markets, its unique solution can be applied to stock markets globally and to markets for other asset classes.

Founded: 2011

Funding: $5 million

 

yaypay fintech company boston
YayPay

What they do: YayPay helps small and medium-sized businesses get paid quickly and efficiently through a Software-as-a-Service (SaaS) platform that automates the accounts receivable process.

How it’s changing fintech: YayPay takes on the payment and administrative tasks that are typically dreaded by small business owners.

Founded: 2015

Funding: $750,000

 

circle fintech company boston
Circle

What they do: Circle is focused on creating a free and easy way to store and access money. They believe accessing and transferring money should be as simple as sharing media and messages over the internet. Headquartered in Dublin with offices in Boston, London and San Francisco, Circle has assembled a knowledgeable team hailing from JP Morgan Chase, Goldman Sachs, Amazon and Adobe.

How it’s changing finance: Unlike other management systems that are closed or restricted, Circle uses internet open standards and protocol that enables them to offer a free and unrestricted service.

Founded: 2013

Funding: $136 million

 

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