Revolutionizing Financial Services: LA Based Startups Transforming US Industry

January 30, 2024



Los Angeles, known for its vibrant entertainment industry, is also home to a rising number of startups shaking up the business landscape across diverse sectors. A noticeable trend is the explosion in startups in the financial services industry that have been established from 2020. These young ventures are leveraging technology and innovative business models to address pressing financial challenges and capitalize on emerging opportunities. This article highlights some of the most intriguing startups in the financial sector within the Los Angeles area.

While these startups span various sub-sectors within the finance industry, a common theme is their use of digital innovations to deliver convenient, efficient, and inclusive services. They are offering solutions in areas such as digital banking, investment, e-commerce payments, and financial content among others. With their unique solutions, these startups are contributing to the dynamism of LA’s startup scene, demonstrating the city’s potential as a leading hub for finance innovation.

These fresh players are set to redefine how we interact with and use financial services. Without further ado, here they are, presented in no particular order.

Suma Wealth

Started by Beatriz Acevedo and Xavier Gutierrez, Suma Wealth is a FinTech company intending to empower the Latinx community through relevant content, experiences, and financial tools. They aim to reimagine financial wellness via a holistic approach to entertainment.Facebook, LinkedIn

B Generous

Co-founded by Dominic Kalms, Neil St. Clair, and Paul Kalms, B Generous is a venture-backed FinTech startup targeting the underserved donor nonprofit market in the U.S. It leverages its exclusive philanthropic credit product to generate additional liquidity for nonprofits around the country.Facebook, LinkedIn

75 & Sunny

Founded by Spencer Rascoff, 75 & Sunny is an investment firm and startup lab. It supports startups through a variety of channels, including leadership coaching, marketing advice, and access to its vast network of partners.

Prometheus Alternative Investments

CEO Michael Wang’s venture, Prometheus Alternative Investments is a fintech startup based in Los Angeles that aims to revolutionize the financial services industry. Facebook, LinkedIn

Invezo

Emmett Miller, Leo Schottenstein, and Wyatt Miller founded Invezo as a research/analysis tool for investing in stocks and crypto-assets, uniting social media data with financial data. Facebook, LinkedIn

Realtize LLC

Alison Gu’s Realtize LLC democratizes the investment process working as a marketplace for real estate and startups. The goal is to facilitate seamless investment experiences for users. Facebook, LinkedIn

AidBanc

Focused on disrupting traditional banking roles, AidBanc was launched by Maf Sonko and Sesie Bonsi. LinkedIn

Nimbus33

Founded by Larry Smith, Nimbus33 focuses on providing the latest information on money-making and saving ideas and how to make smarter financial choices.

Pallo

Pallo is a financial services startup that offers solutions for accounting needs of small and medium businesses and freelancers. Facebook, LinkedIn

Paydrop

Paydrop, founded by Jason Truppi and Steven McClurg, is a payment platform designed to modernize the way gig, freelance and/or contract workers are paid and supported.

JAM Fund

Founded by Justin Mateen of Tinder fame, JAM Fund is a venture capital firm investing in visionary leaders disrupting large spaces.


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