Despite a robust entrepreneurial ecosystem and a large financial services sector, Boston has not been a hotbed of FinTech investment up to now. There are a number of signs that this situation may be changing:
- Boston startups across FinTech sectors (payments, capital markets, insurance) have received funding in the $20M+ range, and Kensho recently had a $50M Series B round
- Boston-based VCs (e.g., Bain Capital, Bessemer, F-Prime Capital, Spark, General Catalyst, etc.) have been prominent investors in these companies
- Supporting organizations such as FinTech Sandbox, FinTech Meetup, MIT FinTech have created a strong ecosystem
- Financial Services leaders are getting involved via industry innovation labs at DCU, Eastern Bank, Fidelity, John Hancock, Thomson Reuters, Liberty Mutual, etc.