Roxana MeadAs it once was with the up-and-coming Silicon Valley town of San Francisco, Boston has recently been transforming into a hub of innovation and tech. Thanks to the many Boston-based VCs, non-profits, industry groups and corporates, the city has grown a strong network that gives startups the potential to become pioneers.
As technology advances, more platforms and apps are created to make people’s lives easier. What better aspect to focus on than people’s finances? Just about everyone welcomes help when it comes to managing expenses and savings or making big financial decisions like buying a car or house.
With this goal in mind, many of the following Boston startups have set out to improve people’s lives by making finances less scary and complicated.
1. botkeeper
CEO: Enrico Palmerino
Bookkeeping done wrong can be quite the headache, and yet, it is an obligatory step for business owners, there is no way around it. With tools like botkeeper it can be done more effectively than ever. botkeeper is software with interactive features that automates bookkeeping through the use of actual accountants as well as machine learning and AI.
2. Flywire
CEO: Mike Massaro
Flywire is one of the many initiatives that aim to bring users and businesses of all sizes, all over the world, together. They provide a platform that works as a facilitator for all stages of the payment process between clients and companies. It allows for multiple payment options. They range from credit cards like Mastercard to apps like Venmo. It also provides tools for processes such as invoicing, tracking, security, and all a business owner might need financially.
3. Toast
CEO: Chris Comparato
While the foodservice and hospitality industries might be overcrowded with companies, the tools used for proper management can make or break a business, no matter how famous or how big. Toast can be used to help with any part of the client-business experience. As it is a platform that provides many of the tools businesses will use on a day-to-day basis, from simpler things, like table ordering to big-picture factors like enterprise reporting and labor management.
4. Kensho Technologies
CEO: Adam Broun
Kensho is a tool that allows financial institutions to solve complex questions quickly through the use of analytics, natural language search, user interfaces, and secure cloud computing. The final result is a computer system that’s capable of answering questions on finance in terms that are more familiar to the average user.
5. Sungage Financial
CEO: Mike Gilroy
Change is inevitable in many industries, especially clean energy. A lot of steps are required for homeowners to adopt greener standards, which is an insurmountable obstacle for many. To encourage the use of solar energy, Sungage Financial created a platform that provides all that’s needed for a homeowner to acquire financing and install solar energy technology.
6. Promoboxx
CEO: Ernie Cormier
Although it seems like many platforms and companies provide the same services and systems to clients, Promoboxx can proudly say it is the only one of its kind. With a positive message of believing in their customers, they created a marketing platform that aligns retailers and national brands to drive sales as they support each other through their partnerships.
7. Circle
Co-founder & CEO: Jeremy Allaire
Cryptocurrencies have been expanding and becoming a huge area of investment interest. Circle hopes to become a leader in crypto finance and investment. They want to accomplish that by providing an online payment platform for transactions, trades, investments, and more. All of which will be focused on crypto finance to make it more accessible, faster, and easier.
8. Cinch
Founder & CEO: Sean Collins
Cinch is an intelligence platform that helps users manage their financial lives. What’s different about Cinch is that it uses behavioral science to not just help you manage your finances, but to understand you better as well. This way, it can make recommendations and decisions that are more fit to your needs and habits.
9. TrueMotion
CEO: Ted Gramer
The final goal of TrueMotion is to help make the streets safer by gathering data and information on users, even if they’re not driving. They also hope to help reinvent the insurance industry. They provide the technology to better identify risky drivers from safe ones. Accordingly, rewarding safe drivers with insurance discounts for a more fair pricing structure.
10. Alpha Vantage
Founders: Olivier Porté, Steve Zheng
Aspects of the financial world can change in the blink of an eye, and decision making needs to be faster than ever. Whether you’re buying or selling stocks or investing, you need the information to choose what your next step will be. That is why businesses like Alpha Vantage are needed. They are providers of free APIs for real-time, all-time data on stocks, forex, and crypto-finance. All of which is powered by a carefully picked community of researchers, engineers, and business professionals.
11. Edmit
Co-founder & CEO: Nick Ducoff
An edtech startup, Edmit aims to make the financial part of picking a university to attend much easier. In truth, most people who aspire to study at any college might not be aware of all available options when it comes to payment and financing. That is where Edmit comes in. As a financial mediator between people applying to colleges and universities and their institution of choice, Edmit facilitates financial aid.
12. Own Up
Co-founder & CEO: Patrick Boyaggi
Yet another example of how tech can help turn a complicated process into a simple one. Own Up is a platform that works as the middleman between consumers and home lenders. Once you build your profile, Own Up can connect you to a home advisor. They will help you compare pre-qualified rates, lenders, and everything else you need before making such a big decision.
13. Forward Financing
CEO: Justin Bakes
Small business owners might have a harder time when it comes to acquiring financial help such as loans as they try to get their businesses started. Fast Forward promises to be a helping hand. They will not just help with loans, but also with project funding for small businesses. Besides, they will provide any other financial services needed to stay on the right track.
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