According to the 2021 Global FinTech Rankings New York City is the third most thriving FinTech hub in the world. Innovative ideas find plenty of talent and business opportunities here to transform into successful products. Proximity to venture capital and tech-focused communities surely doesn’t hurt, either. Still, you might wonder: which startup accelerators in NYC are best to help you jumpstart your FinTech business? Read on to find out!

Startup Accelerators in NYC

List of the most interesting FinTech startup accelerators in New York

Startupbootcamp FinTech

It shouldn’t be a surprise that the biggest global FinTech-focused accelerator would run a program for startups in New York City. Startupbootcamp, founded in 2010 in Copenhagen, has since helped 950 startups. For Startupbootcamp FinTech New York, ten participants are selected to make the most out of the intense three-month program. 

Who should apply?

The FinTech New York program is mainly interested in startups offering solutions in such areas as, for example, blockchain, mobile security, identity and authentication, and P2P lending.

When applying, take into account that, if accepted, the CEO of your company and most of the team will need to move to NYC for the duration of the program. Fortunately, Startupbootcamp will assist you with the move, including support with acquiring visas or setting up bank accounts.

What can you gain?

Startupbootcamp FinTech New York gets startups in touch with over 100 mentors with a relevant industry background who will share their experience and advice to grow various aspects of your business. Their hands-on approach to mentorship allows for you to receive the essential knowledge you need going forward after the program runs its course.

Other perks the accelerator offers include:

  • masterclasses taught by experts to prepare you for scaling your business,
  • connecting you to corporate partners such as Mastercard, Rabobank, Santander, and Thomson Reuters for partnership, collaboration, and business opportunities,
  • highly collaborative coworking space that your whole team can use during the program,
  • support with finding accommodation, and money to cover your team’s living expenses,
  • exclusive discounts and partner deals with technology vendors (e.g. Amazon, HubSpot, SendGrid),
  • opportunities to meet with investors.

In exchange for participation in the program the accelerator will take 6% equity.

Barclays Accelerator, powered by Techstars

When talking about accelerators focused on FinTech, you just have to mention The Barclays Accelerator, powered by Techstars. Established in 2014, the accelerator runs 13-week programs in London, Tel Aviv, and, of course, New York. So far it’s completed almost 20 programs and helped over 190 early-stage companies to fine-tune their solutions and learn how to scale their operations.

Who should apply?

The accelerator is looking for startups from all areas of FinTech. That includes but is not limited to: cryptocurrency, cybersecurity, InsurTech, digital banking, and machine learning.

Even though the Barclays Accelerator program takes place in New York City, you can apply to it from anywhere in the world. Keep in mind, though, that once you get accepted, you’ll need to be able to legally visit the U.S. Fortunately, Techstar might lend you a hand with obtaining a working visa, valid for the duration of the program. The accelerator can also help you with contacting relevant agencies to figure out your visa situation.

What can you gain?

Perhaps one of the most powerful features of the program is how it gives startups access to both the Barclays community and the Techstars global network. In effect, the New York class can gain insight from a wide range of industry experts, accelerator alumni, investors, clients, and mentors. These connections keep developing even after the program’s three months are up.

Other perks include:

  • working with mentors who will advise you on your business model and key areas of your startup’s development,
  • pitching your startup to the wider tech community,
  • access to Rise New York, a modern working space with its innovative resources and vibrant FinTech community.

While Techstars and Barclays take 3% equity each, you can expect up to $120,000 investment from Techstars. 

FinTech Innovation Lab

The FinTech Innovation Lab program runs for 12 weeks and aims to boost tech startups at early to growth-stage. Launched by Accenture in collaboration with the Partnership Fund for New York City in 2010, the program has raised $1,6 billion capital, created over 1,300 jobs, and helped with 283 Proofs of Concept.  

Who should apply? 

The accelerator seeks out both early- and growth-stage FinTech and InsurTech startups, but that’s not their only target. Non-FinTech companies at the growth-stage can apply as long as they want to aim their solutions at the financial and insurance sectors.

Your company is also eligible if you want to work together with the accelerator’s financial institution partners. For New York FinTech Innovation Lab, partners include the Bank of America, Barclays, Deutsche Bank, and Credit Suisse, to name a few.

What can you gain?

The FinTech Innovation Lab is big on mentorship and working closely with prestigious financial institutions. As a participant of the New York program, you’ll definitely receive a lot of feedback and support when it comes to your value proposition, the product-market fit, and scaling your business. The accelerator also creates opportunities for startups to meet with industry leaders and potential investors during workshops, mini-conferences, and panel discussions.

The support doesn’t end once you’re done with the program. Your participation grants you a lifetime access to the FinTech Innovation Lab’s community of mentors, alumni companies, and industry experts. You will also have some more pitching opportunities at targeted pitch sessions and events organised by the accelerator.

Grand Central Tech

Dubbed the “anti-accelerator,” Grand Central Tech is a year-long residency program run by Company Ventures, a venture capital firm. Unlike many accelerators, GCT doesn’t ask for any equity commitment. Instead, it puts a strong emphasis on building a driven community and creating an environment in which early-stage companies can receive support and resources they truly need to thrive.

Who should apply?

Each year Grand Central Tech selects around 25 entrepreneurs and pre-seed to seed-stage startups. The accelerator’s focus is set on tech companies, including FinTech, SaaS, Enterprise Software, and HealthTech. It welcomes startups whose teams are working on an MVP as well as companies that already have paying users.

However, the company has to be located in the U.S. to apply. 

What can you gain?

GCT highly values its community and the exchange of knowledge and ideas that happens within it. Participation in the program grants you access to the thriving NYC tech crowd where community members learn from each other. You can also expect regular check-ins with other founders — both in a one-on-one mode and in groups — as well as coaching, roundtables, and workshops.

The program will guide you to determine the foundations of your company, such as the core values, vision, and mission. While the accelerator aims to serve startups as an advisor, it can also help you with fundraising strategies. Through Grand Central Tech’s wide network of partners you’ll be able to access various discounts and other resources as well as tips on accounting, compensation, or legal matters.

And, of course, participating teams are welcome in the Company building at 335 Madison Avenue where they can build their offerings rent-free and make the most out of the collaborative community.

Entrepreneurs Roundtable Accelerator

While Entrepreneurs Roundtable Accelerator is focused generally on tech companies, FinTech is definitely a point of avid interest on its map. Every year the accelerator runs two four-month programs for early-stage companies. It boasts a network of over 500 mentors who advise startups on operational and strategic matters of running a business — from product engineering through marketing and sales strategies to hiring new employees. That wealth of expertise is made even more accessible by a lead mentor that is assigned to each company and supports it in achieving its goals.

Who should apply?

Even though the program is based in New York City, companies from all over the world are eligible to send applications. But if you get accepted and you’re outside of the U.S., you’ll have to take care of work visas on your own to relocate to New York for the program.

Other than that, technology needs to play an important role in your offering. The companies selected tend to be at least software-related, but what matters the most is your idea. The range of the accelerator’s interest is rather wide so your technological concept needs to truly stand out and be backed by your commitment.

Entrepreneurs Roundtable Accelerator also prefers companies that have at least one technical co-founder on the team because such startups are usually better suited to take the full advantage of the intensive program.

What can you gain?

Apart from the extensive mentorship, Entrepreneurs Roundtable Accelerator offers various credits and free or discounted services from its partners and sponsors, including Microsoft, Amazon Web Services, Google Cloud Platform, or Silicon Valley Bank.

Throughout the program your schedule in New York City will be packed with events so you can benefit from industry expertise and business opportunities at every turn. A typical week consists of workshops, presentations from founders, fundraising sessions, pitch practices, KPI reviews, and that’s not even everything. They really mean it when they say the program is intensive!

Additionally, the accelerator invests $100,000 in each startup, and asks for 8% common stock in exchange.

Are you going to grow with the help of NYC accelerators?

Planning your next step when your company is still in its early stage might feel overwhelming. But we hope this lineup of FinTech accelerators from NYC will narrow down the choice for you. One thing is certain — you can’t go wrong with these picks as each organisation offers excellent mentorship and extensive support.

Now we would love to hear from you: do you have any experience with the accelerators we’ve listed? Do you find one of the programs more exciting than the others? Let us know by commenting on our LinkedIn profile or tweeting at us on Twitter.

Still on the fence? Make sure to check out our top accelerators from London, Tel Aviv, Berlin, and Zurich to consider more options.