Yesterday, Bank Innovations named five emerging U.S. fintech hubs (outside NYC, Silicon Valley and Boston). Its up-and-comers were: Atlanta, Austin, Lincoln, Miami and Washington DC. While Austin and Atlanta made sense, I was surprised by Miami, DC and especially Lincoln, Nebraska.
The article didn’t include a methodology, so to test their hypothesis I searched AngelList’s database of fintech and financial services startups (financial technology, financial services, payments, fin tech or insurance). Miami did in fact make the top 12, but Lincoln (7 startups) and Washington DC (9 startups) are pretty far out of the running, at least from a startup perspective. Admittedly, Bank Innovations was considering more than just startup activity.
Here’s the 10 most common U.S. homes of fintech startups outside SF and NYC:
(Note: this is by no means clean data, so consider it a proxy only; also it does not include neighboring cities such as San Jose or Brooklyn.)
HQ/Number of Startups
- NYC 1,367
- San Francisco 1,241
- LA 431
- Chicago 267
- Boston 246
- Austin 226
- Atlanta 161
- San Diego 156
- Palo Alto 136
- Seattle 116 (tie)
- Dallas 116 (tie)
- Miami 107
Source: Angel List, 18 Aug 2017
Enjoy your weekend all!
Author: Jim Bruene is Founder & Senior Advisor to Finovate as well as Principal of BUX Advisors, a financial services user-experience consultancy.
Photo credit, LA Fintech Meetup Aug 22