FinTech Magazine October 2024 | Page 45

NEW YORK
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BELOW : AI : a modern “ Deus ex Machina ”?: Niki Kouri Maglaras , Prudential Financial FinTech LIVE New York

NEW YORK

VC : 2023 , NEW YORK FINTECHS RAISED US $ 3.2BN
BNPL USERS : 60 % OF ‘ FINANCIALLY FRAGILE ’ CONSUMERS USE BNPL
KEY COMPANIES : CHAINALYSIS , ALLOY , BETTERMENT
New York City ’ s fintech ecosystem has flourished , rivalling Silicon Valley in innovation and investment . In 2023 , NYCbased fintech companies raised US $ 3.2bn across 159 deals , accounting for 15 % of all US fintech funding . The city hosts over 1,500 fintech startups , with notable unicorns like Ramp and Chainalysis calling it home . New York ’ s fintech sector benefits from a unique blend of financial expertise and tech talent , with 44 % of the city ’ s fintech workforce having prior experience in traditional finance . The New York FinTech Innovation Lab , now in its 14th year , has graduated 94 startups that have collectively raised over US $ 2.7bn .

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