Fintech Startup FinEdge Raises $45M to Expand NYC Operations

FinEdge, a New York City-based fintech company specializing in AI-powered credit risk assessment, announced a $45 million Series B funding round led by Capital Growth Partners. The infusion will support expansion of its engineering team and the launch of new products targeting mid-market lenders. FinEdge plans to hire over 100 employees in NYC over the next 18 months, bolstering the city’s status as a fintech innovation hub.

Since its 2022 inception, FinEdge has developed proprietary machine learning models that improve underwriting speed and accuracy. CEO Michael Chen emphasized the importance of NYC’s diverse talent pool and financial ecosystem in scaling operations. “Our goal is to revolutionize credit decisions for underserved businesses, and New York’s dynamic market provides unmatched opportunities.”

Investors cited FinEdge’s strong revenue growth and strategic partnerships as key factors. The company’s growth underscores the ongoing vitality of NYC’s fintech sector despite macroeconomic challenges.