10 Greatest Fintechs in San Francisco, Ranked 2021 • Benzinga

According to FinTech Magazine, “Not a single bank in San Francisco went bust during the Great Depression. Business in the area was booming, so much so that the Oakland Bay Bridge and the Golden Gate Bridge were both built. ”Perhaps that’s why there are so many of the best fintechs in San Francisco and the Bay Area.

Check out our guide to learn more about the best fintechs in the Bay Area.

• What is fintech?

• The 10 Best Fintechs in San Francisco

• 1. Best Cryptocurrency Exchange Fintech: Coinbase, founded in 2012

• 2. Best Fintech with Credit Rating: CreditKarma, founded in 2007

• 3. Best online fintech for personal finance: Chime, founded in 2013

• 4. Best Fintech for Stock Trading: Robinhood, founded in 2013

• 5. Best Payments Fintech: Square, founded in 2009

• 6. Best HR Fintech: HireAthena, founded in 2010

• 7. Best Alternative Assets Fintech: Alt, founded in 2020

• 8. Best authentication fintech: Plaid, founded in 2013

• 9. Best real estate fintech: Figur, founded in 2018

• 10. Best next-generation fintech: Step, founded in 2018

• Invest in the best fintechs in San Francisco

What is fintech?

A fintech company is a financial technology company that “seeks to improve and automate the delivery and use of financial services”.

These platforms often use complex math equations and artificial intelligence (AI) to reduce expenses, identify opportunities, and increase profitability. These systems tend to be more accurate and human error free, while making it easier to identify risks across multiple transactions.

The 10 Best Fintechs in San Francisco

These fintechs have been selected for their unique leadership, value, niche, and growth over the past few years. We also rated the best fintechs based on the quality of their products and / or the recent IPOs that drove their demand. And in this area, too, we consider ourselves quite competent – Benzinga organizes the Benzinga Global Fintech Awards every year, the next edition will take place in November 2021.

1. Best Cryptocurrency Exchange Fintech: Coinbase, founded in 2012

Coinbase saw a sharp surge in earnings in the first quarter after going public in April 2021. Coinbase Global reported 56 million verified users, including more than 8,000 institutions, and $ 1.8 billion in revenue (up from $ 190.6 million last year).

Coinbase is one of the best cryptocurrency platforms out there and is aimed at beginners with its easy to use platform. Coinbase allows users to trade both altcoins and stablecoins. However, it seems to forbid users from trading with those they deem to be more volatile, as opposed to the advanced CoinbasePro, which targets experienced users and allows for a more diverse portfolio of cryptocurrencies not found in the former.

2. Best Fintech with Credit Rating: CreditKarma, founded in 2007

Intuit recently acquired Credit Karma as part of “one of the largest fintech deals of 2020” and will incorporate Credit Karma into all of its products and services.

Credit Karma debuted in 2008 and offered unlimited free credit tracking when other agencies charged fees. Since then, they have been the first choice for credit transparency for those looking to improve their overall financial health and wellbeing.

A few years ago, Credit Karma started matching users with the credit cards they were most likely to find. Their Credit Karma Tax service would launch in 2017, saving Americans tens of millions of dollars in tax preparation fees as they become one of the most beloved personal financial tools on the way.

In 2021 Intuit’s TurboTax would join Credit Karma and offer users a brand new Credit Karma Money Spend account featuring the Instant Karma Rewards Program where users win cash prizes as positive endorsement of good financial behavior.

3. Best online fintech for personal finance: Chime, founded in 2013

Chime was one of the first pure online banking options in the US. And although many were fearful at first, Chime grew to become one of the most sought-after checking accounts in 2020.

Unlike traditional institutions, Chime does not use Chexsystems to exclude clients with a bad banking history. In fact, there are no monthly fees or overdraft fees for their services. Once a good reputation is established on the Chime platform, users will be able to borrow against future funds received.

An interesting law was recently passed prohibiting Chime from using the word “bank” on its website, in advertising, and / or in customer-facing documentation. Nonetheless, Chime is still a respectable institution that serves as a financial hub for many.

4. Best Fintech for Stock Trading: Robinhood, founded in 2013

Robinhood was one of the first platforms to allow retailers to buy and sell stocks directly on their mobile devices.

As interest in retail investing and cryptocurrencies exploded in 2020 and 2021, Robinhood has evolved to meet the needs of its retail army, adding many new features in 2020, combining tools offered on other retail trading platforms, and improved the overall customer experience.

These features included a debit card that customers can use to cash out stocks instantly, fractional and option trading features, and even tiered memberships for high margin accounts.

5. Best Payments Fintech: Square, founded in 2009

Founded by the current CEO of Twitter, Square began as a mobile point-of-sale solution that enabled sellers to transact via mobile credit card scanners and gave businesses more payment options than ever before. Because of its business operations, Square has won out with independent business owners who once relied on nearby ATMs for payments at local trade shows, flea markets, and swap exchanges.

Today Square is taking over e-commerce and making its presence known in the offline environment. It offers its users powerful data analysis, online shops and payment processing.

6. Best HR Fintech: HireAthena, founded in 2010

HireAthena describes itself as “an engineered, US-based, all-in-one back office solution that focuses on small businesses, high-growth startups and microfinance funding campaigns. Kristen Koh Goldstein started this company knowing that “technology could get mothers back to work in the US”.

As an “on-demand job marketplace”, HireAthena focuses on the accounting, payroll and human resources associated with businesses so that owners don’t have to. This company provides opportunities for those who work from home and is making their talent available in the corporate space by providing HR and accounting services to the company they serve.

7. Best Alternative Assets Fintech: Alt, founded in 2020

Alt’s platform encourages users to use alternative investment methods so that users can buy and sell cards similar to the stock market. Users send in their cards for evaluation and authentication, but receive free custody and custody (free for all PSA and BGS cards, all others pay $ 5). Users pay just 1.5% for transactions and can build a viable portfolio of fully insured assets to borrow against.

8. Best authentication fintech: Plaid, founded in 2013

Plaid simplifies two-way banking transactions, verifies and authorizes account ownership, and connects through secure login integrations. Their APIs allow banks to connect to consumer and retail financial organizations, including third-party fintechs such as banks and exchange trading platforms.

9. Best real estate fintech: Figur, founded in 2018

Figure’s innovative business model enables users to access cash, integrate AI to use blockchain as an asset, when buying a home, obtaining an equity line of credit, or reducing mortgage rates during the refinancing process. Users take advantage of Figure’s great features when considering personal loan alternatives for essential home improvement, debt consolidation, and long term retirement planning.

Figure enables users to take advantage of their assets without forcing them to withdraw early. You can continue to earn with existing assets while paying for the things you need right now.

Bitcoin rose from $ 7,000 during the heat of the pandemic, hovering between $ 49,000 and $ 63,000 every day. Imagine selling your bitcoin because of unemployment because you had to pay the mortgage. Figure helps you get the most of your financial decisions while tossing a bone at your worst time.

10. Best next-generation fintech: Step, founded in 2018

According to the International Trade Administration, “FinTech companies can create a more diverse and stable credit landscape by collecting data from social media and other sources to assess the needs of young businesses and borrowers on the edge of the banking system.”

One such solution was Step, a company recently acquired by Stripe.

If you’ve used a program like Greenlight from Green Dot Bank, you probably have an idea of ​​how it works. If your teen makes their pocket money (or receives a direct deposit from a job), you load it onto an FDIC-insured debit card.

The only difference between Step and Greenlight is that Step is designed for teenagers. They have more freedom over their own money, can send money directly to their friends, and build up credit when they come into the world as adults.

In April, Step secured “a $ 100 million round of funding after growing to more than 1.5 million users.” They are currently attracting an average of $ 100,000 a day in new customers between the ages of 13 and 18.

Invest in the best fintechs in San Francisco

San Francisco and the Bay Area are among the best fintechs in the world. If you pick the right time to invest in fintechs, you could envision having stocks in a startup that is doing great things like many of the picks on our list.

Imagine what would happen if you could jump on a time machine and invest in fintech by getting early on with any of the companies on this list. Fortunately, there is still a lot of time. These companies are constantly setting new trends and opening the door to further innovations and even better fintech. And if you want to learn more about fintech, check out these fintech courses.