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Fintech and Crypto Startups Making Waves in 2020

With the fintech and crypto market growing each year, the industry is ripe with opportunity for entrepreneurs and investors looking to tap into its potential. In 2019, fintech startups worldwide were able to acquire $34.5 billion in funding. As fintech companies and new financial services are working on increasing this even further by attracting investors, this could be an opportunity worth taking.

If you have been considering becoming an investor, owning an LLC may have crossed your mind. In this guide to forming an LLC it outlines how there are certain things to consider depending on the state, but they generally follow a similar rule of thumb. Creating an operating agreement is an important and constant step to be addressed, especially if you get other members on board. This will help iron out issues and technicalities before they arise, and you can then proceed to look into these startups or any others that emerge.

In this regard, here are some of the fintech and crypto startups making waves in 2020 for their innovative capacities.

Neocova

Neocova is a St. Louis-based fintech startup whose demographic is community financial institutions. Launching late last year, the company has designed a cloud-native platform with AI technology, stringent cybersecurity measures, one-year contracts, and flexible API integration. This is meant to tackle a common hurdle in the industry – legacy core solutions. In lowering the cost of their technologies and other regulatory requirements, they hope to keep credit unions and community banks in the loop.

Flipshares

Although the real estate industry often fluctuates depending on the economy, there is always significant room for it as individuals, families, and businesses need property. Flipshares is a South California-based startup that aims to make real estate more accessible to anyone that’s interested in learning more. They are blending cryptocurrency and real estate through blockchain technology and strategies based on algorithms to streamline the previously arduous real estate process. Using FLPS as their utility token, tenants can pay their rent with cryptocurrency. This can create a continuous monthly demand, and as you acquire more properties, the demand for the token will likewise increase.

MoneyLion

Neobanks are not new to the crypto and fintech scene, and MoneyLion has joined this supposed future of personal finance. CEO Dee Choubey has said that MoneyLion sets out to be a private bank – or even a wealth manager for the $50,000 household. Through the app, MoneyLion can offer products that regular banks do, from FDIC-insured savings accounts, to ATM access, credit cards, checking accounts and debit cards, paper checks, and currency transactions. They also offer free access to credit scores, and have designed loans to encourage users to build these scores.

As we progress towards digital solutions and widespread adoption of fintech and cryptocurrencies, we may see these startups address longstanding issues across the board. The opportunities in the industry are far and wide – and you may find yourself wanting in.

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