200 Revolutionists in Fintech
/Revolucion! The word invokes strong images of the few, the visionaries who took decisive action to change the world.
It’s in that spirit that we’re kicking off a new content series that’ll highlight 200 financial revolutionists over the coming weeks. We’ve timed the launch of this feature to coincide with the publication of the 200th edition of our weekly newsletter, and we want to express our genuine appreciation of all our subscribers, who made this milestone possible.
What to expect from our collection of revolutionists? Well, a little bit of everything. We’re talking about innovative individuals, companies to keep an eye on, fintechs transforming financial services, and even some “finfluencers” (Honest to goodness, we swear we were using this term around the office long before anyone else).
Have a person or company you’d like to recommend? We’re all ears.
Week 8: Leaders of Disruptive Southern U.S. VCs
Innovation and ambition is alive across the U.S., from sea to shining sea -- not just in the bubbles of New York and Silicon Valley.
This week we wanted to recognize leaders at disruptive VCs in Southern states of the U.S., which incited a heated discussion about how to define “the South.” A strong argument was made for using the esteemed IHOP-Waffle House line of demarcation, but things got tricky when we realized a smattering of the 24-hour diners have popped up across Pennsylvania and Delaware (seems like people in the Mid-Atlantic also crave smothered hash browns). Begrudgingly, we decided the unbending border created by the Mason-Dixon line would suffice.
(Editor’s note: We didn’t include Texas in this list because it’s practically its own entity. And we wouldn’t want to mess with Texas!)
Alex Acree, Managing Partner
The Takoma Group
Washington, DC
Pascal Bouvier, Managing Partner
Michael Meyer, Managing Partner
Middlegame Ventures
Washington, DC
Notable investments: Railsbank
Laura Bock, Principal
Nigel Morris, Co-Founder and Managing Partner
Frank Rotman, Founding Partner
QED Investors
Alexandria, VA
Notable investments: Albert, Avant, ClearScore, YayPay
Benjamin Britt, General Partner
Route 66 Ventures
Alexandria, VA
Notable investments: DriveWealth, Tandem
Bryce Butler, Managing Partner
Access Ventures
Louisville, KY
Notable investments: Fig Loans, Valut
Raj Date, Managing Director and Chair of the Investment Committee
Fenway Summer Ventures
Washington, DC
Notable investments: Future Finance, Lendable
Monica Brand Engel, Partner
Quona Capital
Washington, DC
Notable investments: Klar, Neon
Gardiner Garrard, Co-Founder and Managing Partner
W. Thomas Smith, Jr., Co-Founder and Managing Partner
TTV Capital
Atalanta, GA
Notable investments: DefenseStorm, Verady
David Golden, Managing Partner
Revolution Ventures
Washington, DC
Notable investments: PolicyGenius
Jim Lim, Managing General Partner
Ashton Newhall, Managing General Partner
Greenspring Associates
Owings Mills, MD
Notable investments: MoneyLion
Joe Maxwell, Managing Partner
FINTOP Capital
Nashville, TN
Notable investments: Bridge, Core10
Andy Sandler, Chairman and CEO
Temerity Capital Partners
Washington, DC
Notable investments: Covered, Grasshopper
Week 7: Banktech Players to Watch
As we begin a new decade, it’s really quite remarkable to think about how far the digital revolution in banking has come over the last 10 years. In 2010, most banks didn’t even have a mobile app. Now we live in a world where banks and other traditional players spend vast amounts of money on digital, while at the same time fintechs and other savvy start-ups are still on the scene — coming up with alternatives to traditional bank services, technology to facilitate integrations, and platforms to help banks operate more efficiently.
Banktech can mean big buzz and even bigger bucks (just over the past year, look at Visa’s Plaid play, FIS’ acquisition of Worldpay, and Fiserv’s acquisition of First Data, among others).
But the problem with focusing narrowly on heavyweight names is that you risk overlooking some of the more-under-the-radar fintechs.
We think these are small(er) but mighty banktech players to keep on the radar:
ADDI
Where: Colombia
What: Credit and banking solutions
Who’s Onboard: Andreessen Horowitz, Monashees, Village Global, and Sinai VC ($12.6 Series A in 2019)
Bond
Where: San Francisco
What: Enterprise-grade platform that streamlines the integration between brands and banks
Who’s Onboard: Canaan Partners, Coatue, Sarah Friar, Eric Yuan, and Ryan Peterson ($10 million in seed funding in August 2019)
Baton Systems
Where: Fremont, CA
What: Blockchain-inspired, bank-to-bank payments infrastructure
Who’s Onboard: Trinity Ventures, Alsop Louie, and Commerce Ventures ($12 million Series A in 2019)
Bud
Where: London
What: Helps banks connect their apps and data to other fintech providers
Who’s Onboard: HSBC, Goldman Sachs, ANZ, Banco Sabadell and 9Yards Capital ($20 million Series A announced in early 2019)
DefenseStorm
Where: Alpharetta, GA
What: Cybersecurity management platform for regional banks, community banks, and credit unions
Who’s Onboard: Georgian Partners ($15 million Series A in July 2019)
Growth Street
Where: London
What: Provides an alternative to bank overdrafts for small- and medium-sized businesses
Who’s Onboard: Merian Chrysalis Investment Company ($12.5 million raise in 2019)
Neocova
Where: St. Louis, MO
What: Banking technology platform built specifically for community financial institutions
Who’s Onboard: Bank of St. Elizabeth, Coastal Community Bank, First Financial, Kearny Bank, Provident Bancorp, Inc., and Sunwest Bank ($9.5 million Series A in January 2020)
Numerated
Where: Boston, MA
What: Bank technology powering the digital transformation of relationship banking
Who’s Onboard: Patriot Financial Partners, Venrock, FINTOP Capital, and Hyperplane ($15 million Series B in September 2019)
Railsbank
Where: London
What: Open banking and compliance platform
Who’s Onboard: Moneta Capital, CreditEase, Clocktower Technology Ventures, Singapore Life, and Firestartr ($10 million Series A in September 2019)
Penta
Where: Berlin
What: Business banking
Who’s Onboard: HV Holtzbrinck Ventures, Finleap, and Fabrick (€8 million raised in 2019)
Week 6: The Wealthtech Finfluencers
When we talk about the many different subsectors of fintech, wealthtech may not be the first that comes to mind. But it’s one of the areas that is constantly evolving, innovating, and changing the way both advisors and their clients approach money management.
And wealthtech is so much more than just robo-advisors. As bleeding-edge AI and data analytics tools provide greater levels of insight, UI and UX interfaces continue to evolve, and improvements to back-office technology help RIAs work smarter, innovation is constantly happening in the space.
That said, we’d like to recognize some of the top “finfluencers” in wealthtech.
April Rudin -- Twitter, LinkedIn
Founder and CEO of The Rudin Group
LinkedIn location: Greater New York City Area
Twitter bio: Global #wealth #finserv #marketing firm| #Messaging #Content #Digital +more| #1 wealth management influencer | Likes: #NextGen #FinTech #WealthTech #Detroit
Bill Sullivan -- Twitter, LinkedIn
President of Family Office Exchange
LinkedIn location: Richmond, Virginia Area
Twitter bio: President Family Office Exchange (@FOXExchange) #FamilyOffice #Wealth #Fintech #Banking #OpenBanking #OpenX #RisingGen insights. @Capgemini alum Avid golfer
Chris Gledhill -- Twitter, LinkedIn
Independent FinTech Advisor, Futurist, Writer & Speaker
LinkedIn location: London, United Kingdom
Twitter bio: #FinTech Influencer, Keynote & TEDx Speaker, Writer and Advisor. #FinServ #InsurTech #WealthTech #PayTech collaboration@chrisgledhill.com
Christian Ross -- Twitter, LinkedIn
Manager Business Development at Blanco Fintech
LinkedIn location: Amsterdam Area, Netherlands
Twitter bio: Business Development at @Blanco_fintech #wealthmanagement #wealthtech #regtech #fintech
Devie Mohan -- Twitter, LinkedIn
Co-Founder and CEO of Burnmark
LinkedIn location: London, United Kingdom
Twitter bio: I don't know everything, but I can try. Global top 10 fintech influencer, writer, speaker. Founder @burnmark_ Member @thinkforward
Helene Li -- Twitter, LinkedIn
General Manager of the FinTech Association of Hong Kong
LinkedIn location: Hong Kong
Twitter bio: Purpose is the new profit 🎯🔝2🏆#Influencer on #Sustainability #fintech Co-Founder GoImpact @jpmorgan @bnpparibas alum & best role of all: Mom (views my own)
JP Nicols -- Twitter, LinkedIn
Co-Founder of Fintech Forge
LinkedIn location: Seattle, Washington
Twitter bio: #FinTech #FinServ advisor/writer/speaker: @FinTechForge | @BreakingBanks1 | @ProvokeCast | Innovation+Strategy+Leadership (+ a little soccer #EBFG)
Koen Vanderhoydonk -- Twitter, LinkedIn
CEO Belgium Luxembourg Germany at Blanco Services
LinkedIn location: Brussels, Brussels Capital Region, Belgium
Twitter bio: CEO BeLux @Blanco_fintech passionate about the future of banking, public speaker #Fintech #RegTech #WealthTech #entrepreneur Let's connect!
Minh Q Tran -- Twitter, LinkedIn
Managing Partner at Odysseus Partners
LinkedIn location: Paris 13, Île-de-France, France
Twitter bio: #AssetBuilder & #VC-as-a-Service on #Alternative #Assets in #Insurtech #Wealthtech #Proptech #Impact #Fintech. Top online influencer in insurtech
Rodrigo Garcia de la Cruz -- Twitter, LinkedIn
CEO and Founder of Finnovating
LinkedIn location: Madrid Area, Spain
Twitter bio: CEO @FinnovatingHub | President @asocfintechins | VP @FintechIberoAme | CoFounder @Accurate_Quant | #FinTech #InsurTech #PropTech #RegTech #WealthTech
Susanne Chishti -- Twitter, LinkedIn
Chief Executive Officer at FINTECH Circle
LinkedIn location: London, United Kingdom
Twitter bio: CEO @FINTECHcircle @FTC_Institute Bestselling Editor: @WealthTECHBook @InsurTECH_Book @TheFINTECHBook #AI #Fintech Champion of the Year 2019 #womeninfinance
Urs Bolt -- Twitter, LinkedIn
Partner at Blockchain Innovation Group AG
LinkedIn location: Zürich Area, Switzerland
Twitter bio: Expert Advisor, PMP® | #WealthManagement #WealthTech #DigitalAssets #Ecosystems | @BIG_Blockchain | Mentor @F10_Accelerator | @Phonak Ambassador
Week 5: The Ones Who Keep Us in The Know
When it comes to fintech innovators, we often think of buzzworthy start-ups creating the new digital tools that will change the world — or perhaps those traditional institutions shaking things up and investing heavily in developing new tech. Perhaps we also think of the VCs that enable growth.
But we shouldn't forget about the many fine members of the media who cover the fintech industry. They've got their fingers on the pulse of what's going on, often before the rest of us know about it. Without their news stories, newsletters, blogs and videos, the rest of us would be far less informed.
So this week we'd like to toast these people on the fintech beat, whose work keeps the rest of us in the know.
John Adams, PaymentsSource – Twitter
David Heun, PaymentsSource – Twitter, LinkedIn
PaymentsSource has long been a top, well, source on the payments industry. And John and David are two industry vets with decades of experience covering this fast-moving sector.
Suzanne Barlyn, Reuters – Twitter, LinkedIn
One of the few trained lawyers we’ve seen in the fintech journalist/reporter ecosystem, Suzanne focuses on U.S. financial enforcement and insurance — and it’s the latter coverage of insurance/insurtech that sticks out in our mind.
Penny Crosman, American Banker – Twitter, LinkedIn
Quite simply, Penny has forgotten more about fintech than you’ll ever know. The longtime American Banker reporter is in the top tier of fintech experts.
Rob Daly, Freelance – Twitter, LinkedIn
Rob is a veteran (and unsung) capital markets and financial services reporter. He’s also 100% who we’d want as our partner in a game of euchre.
Lindsay Davis, CB Insights – Twitter, LinkedIn
As a senior intelligence analyst, maybe Lindsay’s not quite as “reporter-y” as some of the others we’re highlighting this week. But her data-driven insights have been indispensable throughout the fintech ecosystem, with her research cited in numerous industry publications.
Dan DeFrancesco, Business Insider – Twitter, LinkedIn
Bradley Saacks, Business Insider – Twitter, LinkedIn
We like to think of Dan and Bradley as the dynamic duo over at Business Insider. Dan is a senior finance reporter covering financial technology, market structure, and cryptocurrency, while Bradley focuses on hedge funds. But we love when the pair team up, especially to cover alt data.
Telis Demos, The Wall Street Journal – Twitter
Formerly at Fortune and Financial Times, Telis’ area of coverage is the U.S. capital markets and the securities industry. He writes extensively on banking.
John Detrixhe, Quartz – Twitter, LinkedIn
John has been writing about finance for more than 10 years, previously at Bloomberg News. Today he puts out Quartz’s Future of Finance newsletter, which covers the people, deals, and ideas that will reshape money for decades to come.
Anna Irrera, Reuters – Twitter
Irrera has been a driving force behind Reuters’ all-around-excellent fintech coverage.
Jim Marous, The Financial Brand – Twitter, LinkedIn
If you’re in fintech, of course you know Jim. Besides being a “finfluencer” par excellence, Jim consistently brings us informative news and views as co-publisher of The Financial Brand and publisher of the Digital Banking Report, as well as many other avenues.
Natasha Mascarenhas, CrunchbaseNews – Twitter, LinkedIn
Natasha is an upcoming reporter who’s wasting no time carving out her place in fintech. Covering venture capital and tech, she’s also reported on women in fintech and women entrepreneurs.
Sarah Perez, TechCrunch – Twitter
We’re guessing Sarah’s background in I.T. (along with some A+ writing chops) is what makes her so proficient at distilling complex tech into words that even a non-techie can comprehend. She covers tech broadly, intersecting with fintech especially around payments.
Julie VerHage, Bloomberg – LinkedIn
If you’re a regular around these parts, you’ve read her work, seen her on TV, and heard her speak at conferences. No matter what the format, Julie is a go-to voice on the tech start-up scene.
Mary Wisniewski, Bankrate – Twitter, LinkedIn
Mary has been on the fintech beat for about a decade now, and has a solid finger on the pulse of what’s going on, what’s relevant, and what’s newsworthy. She is also a frequent speaker and moderator at industry conferences.
Week 4: The Speaker’s Circuit
As we continue our series highlighting 200 financial revolutionists who are driving innovation and change in the fintech space, we wanted to recognize some well-respected conference speakers.
Attending industry conferences is part and parcel of the fintech experience, and these are folks you’ve probably heard on many a stage (or dais) dispensing perspective.
We leveraged data from Event Analyzer to identify several of the most prolific speakers, panelists, and moderators from 2019. We further narrowed to the individuals we felt shared ideas and conversations that enlightened and inspired audiences.
Jeremy Balkin
Head Of Innovation, HSBC
Discussed innovation in open banking and payments, among other topics.
Jo Ann Barefoot
Founder and CEO, Barefoot Innovation Group
Gave bankers and fintechs alike invaluable insight into topics such as regtech and compliance.
Jane Barratt
Chief Advocacy Officer, MX
Jane is a well-known voice in the financial technology world, helping to discern between the hype and the reality when it comes to new technology.
Sandeep Bhandari
Chief Strategy Officer and Chief Risk Officer, Affirm
Financing and financial health were among the many topics Sandeep touched upon at conferences in 2019.
Chris Britt
Co-founder and CEO, Chime
As the head of one of the most influential fintechs, Chris was a frequent conference speaker on digital banking, challenger banks, and innovation.
Gabriele (Gab) Columbro
Executive Director, FINOS
Known for being an open source leader and technologist at heart, Gabriele focuses on topics related to open source in fintech.
David Karandish
Founder and CEO, Capacity
David is a well-known voice in the financial technology space, frequently discussing how community banks and credit unions can leverage innovative technology like AI to transform user experiences, as well as the future of work.
Sam Maule
Managing Partner, North America, 11:FS
One of the most knowledgeable speakers on open banking, payments, small business lending, and everything in between.
Ryan Rugg
Global Head of Industry Verticals / Global Head of Insurance, R3
One of the leading voices on topics such as blockchain and regulatory compliance.
Week 3: Who’s Who in Insurtech
Contrary to what we’ve been seeing in holiday commercials the last few weeks, our expectations for a surprise gift of a new car adorned with a gigantic bow are remarkably, remarkably low right now. Yet, if any of our readers decide to prove us wrong (by the way, we prefer green), our second-most-immediate response would be to ensure that shiny new vehicle was covered insurance-wise. (Our first reaction would look a lot like this.)
Insurance: It’s always been necessary, but not usually super-exciting — until fintechs stepped in with dreams of transforming the industry.
Here are some of the companies that have had big raises and generated considerable buzz this year:
Root Insurance
Raised: $350 million (Series E) at $3.5 billion valuation
Columbus, OH-based tech-enabled auto insurance platform
Noteworthy investors: Coatue Management and DST Global
Next Insurance
Raised: $250 million (Series C) at $1 billion valuation
Palo Alto, Calif.-based, sells insurance products to small businesses
Noteworthy investors: Munich Re
Wefox
Raised: $110 million (Series B) at $1.65 billion pre-money valuation
Berlin-based insurtech platform
Noteworthy investors: Omers Ventures, Merian Chrysalis, and Samsung Catalyst Fund
Hippo
Raised: $100 million at $1 billion valuation
Focused on the home insurance market
Noteworthy investors: Bond Capital
Unqork
Raised: $22 million (Series A) and $80 million (Series B)
New York-based provider of no-code platform for financial services insurance firms
Noteworthy investors: Goldman Sachs, Broadridge Financial Solutions, and CapitalG
Ethos
Raised: $60 million (Series C)
San Francisco-based life insurance company
Noteworthy investors: GV, Goldman Sachs, Sequoia Capital, and Accel
Health IQ
Raised: $55 million (Series D)
Uses quiz-based gamification approach to providing life insurance
Noteworthy investors: Greenspring Associates, Aquiline Technology Growth, Hanwha Asset Management, and Andreessen Horowitz
BriteCore
Raised: $47.5 million
Provider of insurance policy administration and processing software based in Springfield, MO
Noteworthy investors: Warburg Pincus, Radian Capital, and WCF Mutual Insurance
Kin Insurance
Raised: $47 million
Based in Chicago
Noteworthy investors: Avanta, HSCM Bermuda, and UChicago Startup Investment Program
Vouch Insurance
Raised: $45 million (Series B)
San Francisco-based platform offering start-up business insurance
Noteworthy investors: Y Combinator Continuity
Zego
Raised: $42 million (Series B)
London-based, specializing in insurance products for gig-economy workers
Noteworthy investors: Target Global and TransferWise founder Taaver Hinrikus
Bold Penguin
Raised: $32 million (Series B)
Commercial insurance technology provider out of Columbus, OH
Noteworthy investors: Hudson Structured Capital Management Ltd., Lightstone, Guggenheim Insurance, Lockton, and individuals from Stone Point Capital
Snapsheet
Raised:$29 million (Series E)
Chicago-based virtual claims solutions company looking to increase efficiencies and reduce paper in claims
Noteworthy investors: Tola Capital, Nationwide, Sedgwick, State Auto Labs, Liberty Mutual Strategic Ventures, F-Prime Capital, OCA Ventures, and an affiliate of USAA
Thimble (aka Verifly)
Raised: $22 million (Series A)
Provider of short-term insurance to small businesses and freelancers
Noteworthy investors: IAC, Slow Ventures, AXA Venture Partners, and Open Ocean
Route
Raised: $12 million
Lehi, UT-based shipping insurance platform
Noteworthy investors: Album VC and Peak Venture Capital
Sproutt Insurance
Raised: $12 million (Series A)
Hartford, CT.-based platform aiming to make life insurance purchasing more efficient
Noteworthy investors: State of Mind Ventures, Moneta Capital, and Guardian Life
Young Alfred
Raised: $10 million
New York City and Philadelphia-based home insurance shopping platform
Noteworthy investors: Gradient Ventures, Pear Ventures, ERA, and Newfund Capital
Daisy Intelligence
Raised: $10 million (Series A)
Retail and insurance analytics start-up based in Toronto
Noteworthy investors: Framework Venture Partners and Sonae IM
Raised: $7.65 million
Fast Facts: Boston-based tech-enabled home insurance provider
Investors: Gradient Ventures, Greenlight Re, PJC, Techstars Ventures, and The Hanover Insurance Group
Gradient AI
Raised: $6 million (Series A)
Cambridge, MA.-based software start-up for commercial insurers
Noteworthy investors: Forte Ventures, Sandbox Insurtech Ventures, and MassMutual Ventures
Broker Buddha
Raised: $4.5 million
New York-based technology company focused on the commercial insurance application and renewal process
Noteworthy investors: Vertex Ventures
Betterview
Raised: $4.5 million (Series A)
San Francisco-based property insights and workflow platform for insurers
Noteworthy investors: ManchesterStory, Nationwide Ventures, EMC Insurance, Maiden Re, and Compound
CyberFortress
Raised: $3 million
San Antonio, TX-based insurtech protecting e-commerce companies from cyber threats
Noteworthy investors: Greycroft and LiveOak Venture Partners
Week 2: The ‘Finfluencers’ of Banking Innovation
From offering perspective on the news of the day to identifying what trends are hidden between the headlines, these are the “finfluencers” — individuals members of The Financial Revolutionist community say they turn to for ongoing perspective about financial innovation within banking.
In our mind, being a “finfluencer” is about more than number of followers (although, yes, some of these individuals are household names in banking and have significant followings). It’s about who you can count on for information that keeps abreast of what’s happening within this rapidly changing industry.
Alex Jiménez -- Twitter -- LinkedIn
Chief Strategy Officer at Extractable
LinkedIn location: Greater Salt Lake City Area
Twitter bio: Chief Strategy Officer @Extractable #Fintech #Payments #InsurTech #DigitalMarketing #Innovation | @HofstraU #BSME @AdelphiU #MBA| #FintechMafia | Views my own!
Brett King -- Twitter -- LinkedIn
Founder, Executive Chairman at Moven
LinkedIn location: New York, New York
Twitter bio: Author http://Bank4dot0.com, Founder http://Moven.com, Speaker | Futurist | World's #1 Fintech Radio Show http://BreakingBanks.com | Immigrant
Chris Skinner -- Twitter -- LinkedIn
Non-Executive Director at 11:FS
LinkedIn location: Poland
Twitter bio: Shaping the future of financial services
David Jiménez Maireles -- Twitter -- LinkedIn
Deputy Chief Digital Officer at Ngân hàng TMCP Hàng Hải
LinkedIn location: Vietnam
Twitter bio: Building a digital bank in Asia | All things #CX #FinTech #Banking #finserv #OpenBaking #Disruption | Ex @Raisin_EN @ING_es @bancosantander
Jason Henrichs -- Twitter -- LinkedIn
Managing Director at FinTech Forge
LinkedIn location: Chicago, Illinois
Twitter bio: FinTech entrepreneur, community builder, gender equality advocate, learner & listener, angel investor. Why walk when you can run?
Jill Castilla -- Twitter -- LinkedIn
President, CEO and Vice Chairman at Citizens Bank of Edmond
LinkedIn location: Edmond, Oklahoma
Twitter bio: Pres & CEO @CitizensEdmond @midtownbank @vault_405; Creator @HeardonHurd; #fintech leader; @usarmy vet/wife/mom; @casa_army Oklahoma Views=Mine
Lars Markull -- Twitter -- LinkedIn
Professional Freelancer
LinkedIn location: Berlin Area, Germany
Twitter bio: FinTech-ing around | #OpenBanking | Searching for the next thing | Writing @finletter | Prev @figoAPI & @bankathon15 | me@larsmarkull.com
Matthias Kroener -- Twitter -- LinkedIn
Founder and Partner & Fintech Entrepreneur at Professional Development GmbH
LinkedIn location: Munich, Bavaria, Germany
Twitter bio: Banking Entrepreneur
Ron Shevlin -- Twitter -- LinkedIn
Director of Research at Cornerstone Advisors
LinkedIn location: Greater Boston Area
Twitter bio: Managing Director, Fintech Research at Cornerstone Advisors. Author of Smarter Bank and Fintech Snark Tank on Forbes #fintech #finserv #banking
Stessa Cohen -- Twitter -- LinkedIn
Previously: Research Director, Banking & Investment Services at Gartner, Inc.
LinkedIn location: Greater Philadelphia Area
Twitter bio: reader, writer, parent, cat wrangler. sometimes I swim. micro-thoughts & opinions are mine; RTs are not.
Week 1: Funding Fintech from “Flyover States”
It’s well known that U.S. financial services and tech are concentrated on the coasts, specifically around San Francisco and New York. That often leaves “flyover country” underrepresented in the discussion. (Internet wormhole alert: Check out this analysis of 5.6 million domestic flights, which maps out the states that literally are passed over more than they’re visited.)
This week we’re honing in on an area of flyover country (we don’t mean that pejoratively) that’s often described with words like hardworking, integrity, loyalty, trust, humility, and friendliness. We’re talking the Midwest. In a region home to a variety of fintech start-ups, Midwesterners are proving they can also be innovative, disruptive, and ambitious.
On the funding side, here are some venture capital firms we think are ones to watch.
| VC | Location | Founded | Portfolio Highlights |
| Chicago Ventures | Chicago, IL | 2013 | Meritize Founded: 2016 Last Funding: Series A Merit-based education funding that uses an individual’s academic, military, and work achievements in credit evaluation |
| Detroit Venture Partners | Detroit, MI | 2010 | Dwolla Founded: 2008 Last Funding: Unknown Programmable payments platform |
| Drive Capital | Columbus, OH | 2013 | Root Insurance Founded: 2015 Last Funding: Series E Applies data and technology to base auto insurance rates on how people drive; has expanded into rental insurance |
| Hyde Park | Chicago, IL | 2011 | Precognitive Founded: 2016 Last Funding: Seed Combines device intelligence and behavioral analytics with a real-time decision engine to detect and prevent fraud |
| Lightbank | Chicago, IL | 2010 | Clearcover Founded: 2016 Last Funding: Series B Digital platform for car insurance |
| ManchesterStory | West Des Moines, IA | Unknown | Matic Founded: 2014 Last Funding: Series A Digital insurance agency with solutions for consumers, originators, and servicers. FinMkt Founded: 2011 Last Funding: Series B Provides a customizable platform for the global financial services industry, including customer acquisition, product matching, and tracking and reporting |
| Moderne Ventures | Chicago, IL | 2015 | Hippo Founded: 2015 Last Funding: Series D Offers a new approach to homeowners insurance Homebot Founded: 2015 Last Funding: Seed Platform that enables real estate professionals and mortgage brokers to serve as wealth advisors |
| OCA Ventures | Chicago, IL | 1999 | dv01 Founded: 2014 Last Funding: Series B Data management, reporting, and analytics platform offering loan-level transparency and insight into lending markets Snapsheet Founded: 2010 Last Funding: Series E Claims management across personal and commercial lines of insurance |
| Pritzker | Chicago, IL | 1996 | Spring Labs Founded: 2017 Last Funding: Series A Decentralized infrastructure for credit and identity data Coinbase Founded: 2012 Last Funding: Secondary market Platform to buy and sell crypto |
| RPM Ventures | Ann Arbor, MI | 2000 | Blueleaf Founded: 1999 Last Funding: Seed Financial relationship management platform for wealth management firms Figure Founded: 2018 Last Funding: Series C Leverages blockchain, AI, and advanced analytics to unlock new access points for consumer credit products |
| Sandalphon | Chicago, IL | 2016 | RealKey Founded: 2015 Last Funding: Seed Platform that centralizes the mortgage process |
| SixThirty | St. Louis, MO | 2013 | Bloq Founded: 2015 Last Funding: Seed Blockchain solutions for global enterprises Bridge Founded: 2015 Last Funding: Series A Automation-driven portfolio management software for advisors and firms to simplify and streamline back-office functions |
| The Syndicate Fund | Saint Paul, MN | 2017 | Traive Founded: 2018 Last Funding: Seed Ag-fintech that unlocks credit to farmers |