21 Colorado Fintech Companies Changing How We Manage, Make and Spend Money
While Colorado isn’t exactly Wall Street, we do have our fair share of fintech companies helping consumers and businesses manage, make and even spend their money. Here are a handful of Colorado fintech players — some new, some old — to keep an eye on:
Colorado Fintech Companies to Know
- Western Union
- Procare Solutions
- Wunder Capital
- Personal Capital
- Moov Financial
- IHS Markit Digital
Tilled enables B2B software companies to monetize the payments that are moving through their systems. With the help of its turnkey platform, companies can be up and running, generating additional revenue within weeks. Tilled enables software companies to access the benefits of payment facilitation without the regulatory compliance or liabilities that often come with it.
Western Union is a global leader in money movements and payments, enabling people, businesses, NGOs, financial institutions and other organizations to send money wherever they need to, including across borders. The company’s omnichannel platform prioritizes speed, reliability, convenience and trust when handling money transfer requests for its customers, featuring options for sending money online, through the Western Union app or in-person and cash pickup or bank transfer options for receiving payments.
Procare Solutions offers child care management and parent engagement software for child care centers, before-and-after-school programs, in-home daycare, and enrichment programs. The platform provides business management tools, activity tracking, payment processing, and more to simplify administrative tasks, enabling teachers and caregivers to get back to the kids.
Renewable energy is the future, and Wunder Capital is helping lead the way with an online investment and solar project management portal that provides businesses, nonprofits and community solar projects with the financing they need — and giving investors the opportunity to put their money behind initiatives they believe in.
Moov Financial is a fully remote fintech company operating an open-source platform that simplifies embedded payments. Moov makes it easier for developers to apply payment functionality to their products, enabling companies to spend more time on their customers and user experience.
IHS Markit Digital’s Software as a Service platform takes complex financial information and presents it in a concise and easily-readable format. The Boulder-based company’s research and analysis spans across several industries and offers clients a holistic solution to business problems.
Pinnacol Assurance is a private insurance company that specializes in workers’ compensation cases and holds a mission to keep workers safe and healthy on the job. As the largest workers’ compensation insurance carrier in Colorado, Pinnacol works with over 56,000 companies across industries like healthcare, hospitality and construction.
Recurly offers a subscription management platform that helps subscription-based businesses maximize revenue and navigate the challenges that come with today’s ever-evolving billing needs.
Funding Circle’s digital loan marketplace connects small businesses with the financing they need to grow while giving investors — from individuals to national banks and governments — alternative investment options that see consistently strong returns.
Xero is the provider of a cloud-based accounting software for small business. The platform gives companies instant access to their financials, anywhere. Founded in New Zealand in 2006, Xero now has a team of 1,200 across 20 international offices.
Personal Capital has their headquarters in California, but their Dever presence is just as big. The company’s app allows consumers to track their net worth, transactions and investment portfolios. They even offer a service where users can work directly with an investment advisor to build better portfolios. As of June 2018, the company has more than 1.8 million users on their app, tracking $480 billion in assets — and they’re managing nearly $7 billion in assets for their investment clients.
Fort Collins-based BillGO lets users split and pay their bills all through their app. Created out of a need for multiple tenants to pay rent to their landlord, the app works with banks and credit cards to allow users to pay any bill they need. Got a bill in the mail? Simply take a picture, and BillGO will take care of the rest. After testing the product with students at Colorado State University, the app is now available on Android and iOS — and they have a Facebook Messenger chatbot, too.
Enova helps small businesses thrive. They work with businesses from all industries — not just tech startups — to offer a wide range of products, from short-term loans to lines of credit up to $100,000. The Denver company has delivered $5 billion in loans to small businesses since it got its start in 2007. Companies can apply online, and their system offers a decision in minutes, with no obligation.
Denver-based Maxwell empowers mortgage professionals by automating their workflow with homebuyers and realtors. The company’s SaaS platform enhances relationships with mortgage lenders and their customers through data integrity, online collaboration and process automation. Since its inception in 2015, Maxwell has closed over $7 billion in loans more efficiently.
SALT Lending allows for holders of blockchain to leverage their assets as collateral for cash loans. The company is the first asset-backed lending platform that gives blockchain currency holders access to cash without having to sell off their cryptocurrency. Started in 2016 in Denver, SALT Lending helps investors leverage blockchain by offering competitive interest rates and the freedom to get cash back at any moment.
Robinhood is a financial and educational tool offering a variety of resources for both budding and established investors, including podcasts, newsletters and an app that lets users invest in stocks, cryptocurrencies and exchange-traded funds. With headquarters in Menlo Park, CA, Robinhood is providing easier access to financial information and trading for everyone.
Curu is a Denver-based fintech company operating a customer engagement platform that provides data-driven insights to lenders. The data provides lenders with more context about their customer’s financial state, enabling them to deliver more personalized recommendations as well as a better customer experience overall.
Commerce Sync creates automated accounting software for small businesses. It pulls sales data from point of sale and online storefront systems, then allows consumers to pull reports on all aspects of the company’s accounting. They have more than 10,000 customers, from coffee shops to golf courses. And their software integrates with some of the major players in small business sales, including Square and Quickbooks.
Denver’s Tokken aims to make it simpler and safer for people to purchase legal cannabis. The company’s platform offers digital currency, called tokkens, that consumers can use to purchase product from retailers. Those retailers receive the tokkens, which the company uses to manage their funds in a bank. Tokken is currently testing their platform with retailers, but they expect to release consumer apps later this year.
Denver-based Eave is all about accuracy and efficiency when it comes to mortgages. With Eave’s approval process, most mortgages are approved after only 48 hours, with the closing process taking half the time of a traditional mortgage company.
Autopay helps car buyers finance their vehicles and find the most competitive rates through their cultivated marketplace of lenders. Based in Denver, the company streamlines the auto loan process in a trustworthy, affordable way.
Photos via Shutterstock, featured companies and social media.