About FinTech sector in Chicago, United States
The FinTech sector in Chicago, United States comprises 1.05K companies, including 300 funded companies having collectively raised $11.9B in venture capital money and private equity. Out of these, 179 are Series A+ funded, and 7 have achieved unicorn status.
FinTech sector in Chicago, United States has seen 114 acquisitions and 15 IPOs. This represents almost 12.3% of all such companies - which is higher than the 4.3% exit rate of tech companies in general.
This sector includes companies providing tech-enabled financial services and IT infrastructure and software for offering and managing financial services.
FinTech sector is also known as BFSI Tech.
Companies providing tech solutions to provide financial services like lending, banking, fundraising, insurance, etc are included in this sector. Companies offering traditional financial services like Banks, NBFCs, Insurance Carriers, etc are excluded.
Top FinTech Companies in Chicago, United States
There are 1,046 FinTech startups in Chicago, United States which include Morningstar, TransUnion, Avant, CME Group, Tastytrade. Out of these, 300 startups are funded, with 179 having secured Series A+ funding, and 7 achieving unicorn status.
2026 has seen the creation of 10 FinTech startups in Chicago, United States. Over the past 10 years, an average of 45 new companies have been launched annually. Notably, several of these startups have been founded by alumni of University of Chicago, Booth School of Business and Harvard University.
Here is the list of top FinTech startups in Chicago, United States
1. Morningstar
Provider of investment research, market data, portfolio tools, and investor education. The site offers analysis and insights on markets, funds, exchange-traded funds, stocks, bonds, and alternative investments for individual investors and professionals. It provides tools for portfolio tracking and construction, along with screeners and rankings to compare securities across asset classes. Users can access articles, videos, and podcasts covering investing strategies, personal finance, retirement planning, taxes, and sustainable investing topics. The platform also publishes calendars, news, and indexes that help users monitor economic events and security performance.
Key facts about Morningstar
- Founded Year: 1984
- Location: Chicago (United States)
- Stage: Public
- Total Funding till date: $91M
- Investors: SoftBank Capital, Investis Digital and 3 Others
- Latest Funding Round: Grant (prize money), Jan 06, 2022, $*****
- Tracxn Score: 81/100 What is this?
- Competitors Rank: 2 of 1,176 Competitors
2. TransUnion
Provider of consumer credit reports, credit monitoring, scores, and identity tools. The business offers individuals access to personal credit reports and credit scores, along with monitoring and alerts that notify users about important changes in their credit files. It supplies online tools for placing or lifting credit freezes, adding fraud alerts, and disputing items reported in credit histories. Additional services include personalized credit education resources and offers for financial products such as credit cards, loans, and insurance based on a user’s credit profile.
Key facts about TransUnion
- Founded Year: 1968
- Location: Chicago (United States)
- Stage: Public
- Total Funding till date: $7.5M
- Investors: MidOcean Partners, Rock Creek Capital and 4 Others
- Latest Funding Round: Unattributed, Oct 29, 2014, $*****
- Tracxn Score: 79/100 What is this?
- Competitors Rank: 2 of 513 Competitors
3. Avant
Online platform for consumer loans. It offers secured and unsecured personal loans and credit lines on the basis of a repayment guarantee. Repayment of loans can be done via credit/debit cards and bank transfers. It offers an app-based platform that is available on iOS and Android platforms.
Key facts about Avant
- Founded Year: 2012
- Location: Chicago (United States)
- Stage: Series E
- Total Funding till date: $905M
- Investors: August Capital, Tiger Global Management and 29 Others
- Latest Funding Round: Conventional Debt, Jul 29, 2026, $*****
- Tracxn Score: 77/100 What is this?
- Competitors Rank: 3 of 615 Competitors
4. CME Group
Provider of futures and options trading, risk management, and market data. It offers access to real-time and historical market information. The company delivers clearing advisories and solutions for uncleared margin rule challenges. It provides educational resources, trading simulators, and trading challenges. The business facilitates trading across major asset classes. It offers tools for portfolio evaluation and risk optimization.
Key facts about CME Group
- Founded Year: 1848
- Location: Chicago (United States)
- Stage: Public
- Investors: Reverence Capital Partners, B3 and 3 Others
- Latest Funding Round: Post IPO, Nov 04, 2021, $*****
- Tracxn Score: 74/100 What is this?
- Competitors Rank: 4 of 558 Competitors
5. Tastytrade
Online platform publishing content focusing on investment. It provides live broadcasts with financial information and publishes content focusing on investments. It features shows like market measures, good trade bad trade, and bootstrapping.
Key facts about Tastytrade
- Founded Year: 2011
- Location: Chicago (United States)
- Stage: Acquired
- Total Funding till date: $60.4M
- Investors: TCV, Farview Equity Partners and 1 Other
- Latest Funding Round: Series B, Jun 28, 2018, $*****
- Tracxn Score: 74/100 What is this?
- Competitors Rank: 7 of 776 Competitors
Companies founded year-on-year in the FinTech sector in Chicago
10 new startups have been founded so far in 2026 in the FinTech sector in Chicago. 68 FinTech startups in Chicago were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | 10 |
2025 | 16 |
2024 | 23 |
2023 | 31 |
2022 | 53 |
2021 | 65 |
2020 | 68 |
2019 | 59 |
2018 | 67 |
2017 | 63 |
Stage-wise distribution of FinTech sector companies in Chicago
Out of the total 1,046 FinTech companies in Chicago, 300 have secured funding. Among them, 179 have reached Series A or higher, and 158 to Series B or beyond.
Founded - 1,046
Funded - 300
Series A+ - 179
Series B+ - 158
Series C+ - 146
Company Stage | No. of companies |
|---|---|
Founded | 1,046 |
Funded | 300 |
Series A+ | 179 |
Series B+ | 158 |
Series C+ | 146 |
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Funding Trends in the FinTech sector in Chicago
Total funding year-on-year in the FinTech sector in Chicago
The FinTech sector in Chicago saw a total funding of more than $8.13B in the last 10 years. The most amount of funding was in 2021 at more than $2.65B. There has been a total funding of $405M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $405M |
2025 | $1.01B |
2024 | $369M |
2023 | $184M |
2022 | $1.81B |
2021 | $2.65B |
2020 | $406M |
2019 | $294M |
2018 | $650M |
2017 | $352M |
Recent Funding Rounds in FinTech in Chicago
In the year 2026, till July 2026, FinTech companies in Chicago have raised $105M in equity funding across 7 rounds.
In the same period last year (i.e. till July 2025), FinTech companies in Chicago had raised $216M across 17 rounds.
So, 2026 has seen a 51.28% drop in funding in FinTech companies in Chicago as compared to 2025.
Here are some recent, important funding rounds in FinTech companies in Chicago:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Series B | 8326 | Jul 29, 2026 | ||
Seed | 6062 | Jul 23, 2026 | ||
Series C | 7961 | May 15, 2026 | ||
Series C | 4222 | Mar 19, 2026 | ||
Series B | 2066 | Feb 19, 2026 | and 5 more |
Top Investors in FinTech in Chicago
Plug and Play Tech Center is the top investor in FinTech companies in Chicago based on number of companies invested.
Here are some top investors in FinTech companies in Chicago:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Sunnyvale (United States) | ||
New York City (United States) | ||
Chicago (United States) | ||
Chicago (United States) | ||
Chicago (United States) | - |
M&A activity in FinTech sector in Chicago
In the year 2026, till August 2026, 7 acquisitions happened in FinTech sector in Chicago. Last year, in 2025, a total of 6 acquisitions happened in FinTech sector in Chicago.
Here are some recent, important acquisitions in FinTech sector in Chicago:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Aug 01, 2026 | ||
Business Acquisition | May 05, 2026 | ||
Business Acquisition | Apr 17, 2026 | ||
Business Acquisition | Apr 02, 2026 | ||
Business Acquisition | Feb 17, 2026 |
Acquisition trends in FinTech sector in Chicago
Here are the acquisition trends in FinTech sector in Chicago:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | 7 |
2025 | 6 |
2024 | 7 |
2023 | 13 |
2022 | 12 |
2021 | 13 |
2020 | 16 |
2019 | 3 |
2018 | 9 |
2017 | 10 |
IPOs in FinTech in Chicago
In the year 2022, till April 2022, 1 IPO happened in FinTech sector in Chicago.
Here are some recent, important IPOs in FinTech sector in Chicago:
Company | IPO Date | Exchange Symbol |
|---|---|---|
Apr 14, 2022 | National Association of Securities Dealers Automated Quotations (NASDAQ) | |
Oct 21, 2021 | New York Stock Exchange (NYSE) | |
Aug 02, 2021 | National Association of Securities Dealers Automated Quotations (NASDAQ) | |
Nov 20, 2020 | New York Stock Exchange (NYSE) | |
Jul 15, 2020 | National Association of Securities Dealers Automated Quotations (NASDAQ) |
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Colleges which produce the most FinTech companies in Chicago
Companies founded by alumni from top colleges in the FinTech in Chicago
Most number of FinTech startups in Chicago have been founded by alumni from University of Chicago, Booth School of Business and Harvard University.
College | No. of companies |
|---|---|
University of Chicago | 27 |
Booth School of Business | 17 |
Harvard University | 7 |
Stanford University | 5 |
Kellogg School of Management | 4 |
Massachusetts Institute of Technology | 4 |
University of Pennsylvania | 4 |
Cornell University | 3 |
Harvard Business School | 3 |
Yale University | 3 |
Total funding in FinTech companies founded by alumni from top colleges in Chicago
In the last 10 years, University of Chicago graduates' FinTech companies in Chicago have raised the most funding among top colleges. Harvard University alumni are second, and Massachusetts Institute of Technology alumni are third.
College | Total Funding |
|---|---|
University of Chicago | $1.19B |
Harvard University | $393M |
Massachusetts Institute of Technology | $382M |
Stanford University | $359M |
University of Warwick | $286M |
Harvard Business School | $119M |
Kellogg School of Management | $117M |
Booth School of Business | $107M |
Imperial College London | $23.5M |
University of Pennsylvania | $7.5M |
Top News in FinTech in Chicago
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Trading Technologies Partners with Crypto.com to Enhance Institutional Access to Prediction MarketsCrowdfund Insider•Aug 20, 2026•Trading Technologies, CRYPTO, Solidus Labs
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Crash Champions Renews CCC Relationship, Expands AI-Powered Mobile Jumpstart AdoptionGlobeNewswire•Aug 13, 2026•CCC, Crash Champions
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tastytrade Launches Global Trading Hours: Overnight Index Options Trading Built for Active TradersBusiness Wire•Aug 10, 2026•Tastytrade
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TransUnion Q2 2026 Report: Broader Credit Access and Moderate Debt Growth ObservedGlobeNewswire•Aug 06, 2026•TransUnion
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Brickk Partners TransUnion to Enhance UK Renters' Credit HistoriesFintechinshorts•Aug 05, 2026•TransUnion
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CCC Intelligent Solutions Holdings Inc. Announces Second Quarter 2026 Financial ResultsGlobeNewswire•Jul 30, 2026•CCC
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TransUnion Reports Strong Second Quarter 2026 Financial Results, Exceeds GuidanceGlobeNewswire•Jul 28, 2026•TransUnion
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TransUnion Analysis: Auto Loan Fraud Losses More Than Triple in Key CategoriesGlobeNewswire•Jul 23, 2026•TransUnion
