North Carolina is a state to watch as far as technology is concerned and Charlotte is its business epicenter. In this guide, we look at the fintech landscape in Charlotte and bring you the 10 best fintechs in Charlotte. The Queen City is known for it’s well-educated population amidst a heavy university presence, making it a great place for startups.
Read our guide to the 10 best fintechs in Charlotte to find out more.
What is Fintech?
When the finance and tech sectors join, a fintech company is born. A fintech company is one that uses technology to offer financial solutions to companies. Firms that use such platforms can improve their productivity and customer delivery.
Fintechs are largely online platforms that integrate with a company's system.An organization can sign up and create an interface through which customers can interact and get services easily.
How We Chose the Best Fintechs in Charlotte
The 1st thing we looked at when ranking the best fintechs is the user-friendliness of the online platforms or websites. Of course, the system must be robust and straightforward so that users can access the services efficiently.
We also looked at the services and whether they match the needs of the market. Charlotte has a youthful and tech-savvy population. A great fintech offers solutions based on the current needs of the consumers.
9 Best Fintechs in Charlotte
Here are our choices for the best fintech companies in Charlotte, North Carolina.
1. Best Digital Fintech: Red Ventures, founded 2000
Red Ventures is an online brand whose service cuts across managing a portfolio of digital media firms. It aims to enable individuals to find new systems that can boost their engagement levels. The company supports several organizations in different industries such as finance, tech, and entertainment.
Red Ventures has a total funding amount equal to $250 million, raised in 3 rounds, with the most recent being from private equity held in July 2018. The company has 4 investors who include Silver Lake and Canada Pension Plan Investment Board.
2. Best Mobile Parking Payments Fintech: Passport Inc., founded 2010
Passport operates an online platform where users can unlock an innovative system for parking payments. The system is all-inclusive and allows private operators, cities, universities, businesses, and other stakeholders to increase their revenue and payment quickly through an efficient mobile payment solution for parking fees.
In December 2019, Passport closed a deal worth $65 million in a Series D funding round. The investors include Rho Capital Partners, Thorn Tree Capital Partners, and H.I.G. Growth partners.Therefore, this raised the company's capital to an impressive $125 million. The platform offers seamless mobility and is available in other cities of the United States, such as Boston and Chicago.
3. Best Online Invoicing Fintech: AvidXchange, founded 2000
AvidXchange uses an automated system that helps businesses digitize their invoicing processes, increasing speed, security, efficiency, and ensuring the costs are minimized. The system is cloud-based, and users can receive invoices, track them and finally approve without the need for a cumbersome paper process.
The total funding available for AvidXchange is approximately $1.1 billion from 21 investors. Capital was raised in over 10 rounds, with the recent being in September 2020 from a Venture. The post-money valuation of this fintech ranges between $1 billion to $10 billion as of October 7, 2020. At the start of 2021, AvidXchange acquired Core Associates.
4. Best Beverages Business Operations Fintech: Ekos, founded 2014
Ekos is an online program that enables beverage businesses to manage their operations seamlessly.Some of the services offered include streamlining inventory, accounting, production, and sales.
With Ekos, your company can improve its sales margins, track sales, save time on filing tax reports, and understand business metrics. Also, your company benefits from accounting processes, P.O.S. platforms, ecommerce integration, and more. This prevents shortages since the system manages your inventory and reorder points.
So far, Ekos has a total funding amount of $8.5 million raised in over 3 rounds. During the Series A round held in October 2019, the company raised an undisclosed amount. Some of the notable investors include Noro-Moseley Partners and Service Provider Capital.
5. Best Big Data Monetization Fintech: Tresata, founded 2011
Tresata is an intelligent platform that allows companies to monetize big data and has an operating system that manages data blocks for easy monetization. This digital company services clients in different sectors and enables organizations to make valuable decisions for the clients.
The total amount of funds available for Tresata is $ 51.3M raised in 3 rounds. The most recent funding was $50 million raised from C.G.P. partners in October 2018. Tresata has a post-money valuation of between $1 billion to $ 10 billion as per PrivCo.
6. Best E-commerce Fintech: ecomdash, founded 2013
ecomdash is a platform that helps e-commerce companies to manage their operations from any location. The company uses a robust app that allows organizations to manage their inventories on different platforms. For instance, a firm can control its inventory movements between different warehouses and sync with ready products.
The ecomdash app is user-friendly, and businesses can download various products from across other sales channels. Another helpful feature includes creating multiple listing profiles. Therefore, companies can improve on customer delivery since the order system is automated and easy to track items throughout the system.
The total funding available for ecomdash is $1.7 million, which was raised in over 2 rounds. The most recent funding was in September 2018 raised from Convertible note. Some of the investors include Charlotte Angel Fund and VentureSouth.
7. Best Medical Billing Fintech: ReClaim Medical Revenue Solutions LLC, founded 2015
ReClaim Medical Revenue Solutions LLC offers a financial wellness platform that provides financial consultancy for patients to manage their businesses as they focus on their well-being. The products are innovative, and their objective is to enable users to maximize their revenues and minimize costs.
The total funding available for ReClaim Medical Revenue Solutions LLC is $3.2 million, with the latest being $2.455 million raised in July 2019. In addition, the company raised funds from MassChallenge in May 2019.
8. Best Mortgage Fintech: Movement Mortgage, founded 2008
Movement Mortgage is an online platform that enables clients to buy a home or refinance their homes. It saves on the hassles of searching for a home through various mortgage providers. The company promises a quick process within a few hours of a client applying. Also, customers can easily sign documents via an electronic platform, which reduces the paperwork.
In December 2020, the company announced a $200 million expansion plan on its non-profit foundation. Therefore, it hopes to accelerate its development in various sectors such as schools, health clinics, and affordable housing.
9. Best Online Payment Fintech: Payzer, founded 2014
Payzer makes Payzerware, an online platform that enables individuals to make mobile payments from different platforms. Customers can benefit from automated payment plans, instant finance, and more.
Payzer has a total funding amount of $19.2 million with 11 investors.In November 2018, the company raised $9.2 million from the Series C round, and up to 5 investors participated. In June of the same year, an undisclosed amount was raised during the Series B round. Some of the most notable investors include Ferguson Ventures and Acta Wireless.
Investors Love the Best Fintechs in Charlotte
If you're searching for a business opportunity in Charlotte, North Carolina, you may want to think about investing in fintech companies here.
Want to know more about fintech? Check out these fintech courses to learn more.
Continue reading: BEST FINANCIAL ADVISORS IN CHARLOTTE, NORTH CAROLINA