Fintech City Tour goes to Philadelphia to see Millenials creating Fintech close to Wall Street

Philadelphia was not on my radar screen until regular reader Steve Weiner reached out to tell me about Wharton FinTech, the

“first student-led initiative dedicated to promoting ideas, innovation and investment in FinTech”.

I think this is significant for 3 reasons:

  • If you want one word to explain Silicon Valley success it is – Stanford. The wonderful thing about University/College is lots of bright people with time to think (and code).
  • Students are Millenials and their changed attitudes explains a lot of of the traction that Fintech ventures are getting.
  • An earlier generation of Wharton grads opted straight for the big banks on Wall Street. Look on the Resume of a superstar quant or i-banker and you often saw Wharton. A Fintech career now looks attractive in comparison.

Philadelphia may not rank high when you look at HQ of top Fintech ventures, but many were started by Philadelphia locals, such as:

  • Motif Investing (reviewed here), founded by Hardeep Walia (a Wharton MBA)
  • Venmo (acquired by Braintree), co-founded by two University of Pennslvania students.
  • CommonBond, co-founded by two Wharton MBA students and one Penn Law student.


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