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The United States Of Fintech: The Most Well-Funded Fintech Startups In Each State

  • There are 5 unicorn companies ($1B+ valuation) included on the map, reflecting the significant amount of money that has been invested in fintech over the past few years.
  • California-based lending unicorn SoFi is the most well funded fintech company with just over $2B raised since 2011.
  • The second most well-funded startup on our map is New York based unicorn Oscar.
  • Illinois-based Avant, a personal loan startup, completes the top 3 with $655M in disclosed equity funding since 2012, and a valuation of $1.9B. Avant’s backers include General Atlantic, Tiger Global Managament, Peter Thiel, and RRE Ventures.
  • LumoXchange (Arkansas, $200k raised) and CreditPoint Software (Oklahoma, $1.1M raised) are the least well funded fintech startups on our map.

California, New York and Chicago are home to the most well funded fintech startups in the US.

Across the US, well-funded companies are rethinking how the financial system operates.

Following our previous mapping of the most well funded startups in each state and most well funded food & beverage startups in each state, we used CB Insights database to identify the most well-funded private fintech startup in each state.

We excluded companies that have not raised equity funding since 2015 and excluded funding from debt as well as lines of credit. We only included companies with at least $100,000 raised.

Out of the 50 US states, 38 and DC are home to fintech startups that have raised equity funding since 2015 and have more than $100,000 in funding.

There are 5 unicorn companies ($1B+ valuation) included on the map, reflecting the significant amount of money that has been invested in fintech over the past few years.

Unicorns on the map include SoFi in California, Oscar in New York, Avant in Illinois, Kabbage in Georgia, and AvidXchange in North Carolina.

Click on the image below to enlarge.

California-based lending unicorn SoFi is the most well funded fintech company with just over $2B raised since 2011. The company was last valued at $4.5B after raising a $500M Series F in Q1’17 and is backed by SoftBank, Silver Lake Partners, and Peter Thiel, among others.

The United States Of Fintech: The Most Well-Funded Fintech Startups In Each State