Fintech Sandbox, a nonprofit that provides early-stage startups around the world with free access to critical datasets and resources, experienced significant growth in 2022.Fintech Sandbox promotes innovation in the financial sector by making data and infrastructure available to early-stage fintech startups, at the point when access to this typically expensive data is most impactful. Fintech Sandbox startups, in return, collaborate with current and past residents, sharing learnings and advancements that benefit the ecosystem. This momentum positions the organization for further growth and success in the coming year, and further cements its integral role in supporting startups in an uncertain economic environment. Fintech Sandbox increased its presence on the world map, with a clear emphasis on inclusive and sustainable finance. Few highlights include:
- Six new data partners Argyle, Boss Insights, Digital Finance, Financial Information Inc., MSCI and SQX.
- Critical savings for early-stage startups – over $5 million in estimated data costs for its startups in 2022.
- Celebrated the key partnership deals or significant funding rounds of 13 past residents – Clarity AI, Cinchy, Intellibonds, Layr, Merkle Science, Narmi, Novo, Petal, Pocketnest, Sandbox Banking, Solidus Labs, Stilt and Surround Insurance
- 38 new startups across five continents added to its Data Access Residency
- Four new countries and African presence
- Portfolio tripled the number of startups focused on financial access and ESG
The in-person Boston Fintech Week followed Fintech Sandbox’s eighth annual Demo Day, which took place virtually on April 22, and gave eight promising startups the opportunity to showcase the technology and products built with the help of Fintech Sandbox and its partners. The event additionally featured a fireside chat with Adrienne Harris, Superintendent of the New York State Department of Financial Services, and included two in-person receptions. The organization is eager to soon announce the participating startups and exact dates for the ninth annual Demo Day, scheduled for April 2023.
“Despite tightening of funding and economic uncertainty, fintech, especially at the early stages, is alive and vibrant – we’re seeing no shortage of new founders coming to Fintech Sandbox for support,” said Kelly Fryer, Executive DIrector, Fintech Sandbox. “Our mission of providing data access and world-class programming to bring innovation to fintech and financial services is all the more important at this moment. More and more entrepreneurs need our support, data, advice and community – which makes 2023 a more important year than ever.”
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