Top Maryland Fintech Angel Investors

Maryland's fintech landscape has witnessed remarkable growth in the last 6 years!

With a burgeoning startup ecosystem of over 20 ventures valued at $500 million, the state has established itself as a hub for innovation in the financial technology sector.

But!

Does the level of angel investment in Maryland's fintech startups match the enthusiasm and potential shown by the startup community?

A big yes! Maryland has started to catch the attention of hundreds of VC firms and angel investors. To help you find the perfect investor for your fintech business, we have compiled the following list of top angel investors in Maryland.  

Discover The Top Angel Investors in Maryland Who Are Funding Fintech Startups

Ben Schapiro

• Contact :Ben Schapiro | LinkedIn
• Focused Sectors : Cyber Security, Enterprise Software, Information Technology, SaaS, Security, Cycling, Fitness, Health Care, Wellness, Analytics, Messaging, Mobile, Financial Services, FinTech, Hardware, Software, Mobile Apps, Retail, Robotics, Artificial Intelligence, Big Data, Machine Learning, Marketing, Predictive Analytics, Sales, Sales Automation, Event Management, Hospitality, Meeting Software, Universities, EdTech, Education, Freelance, Test and Measurement
• Present In : Maryland
• Notable Investments : Naviscan, Tornado Development, RewardsPlus, Guavus, Ensenda, ServiceMax, Recruitmax, IntegenX, Salient Surgical Technologies, AngioScore, Vurv Technology, Social Tables, NComputing

Ben Schapiro is a pillar in Maryland’s investment landscape, renowned not only for his decades-long career but also for his insightful approach to supporting startups. As the CEO of QuestMark Partners, a firm he founded in 1998, Schapiro seeks out early growth-stage companies that bring fresh ideas and a data-centric focus to their fields..

When investing in businesses, Schapiro usually makes his investments through  fundraisers and networking events. He values data-driven businesses that are led by experienced founders, having around 50 startups in his portfolio.

Ben Schapiro's investment range lies around $500,000.

Paul Palmieri

• Contact :Paul Palmieri | LinkedIn
• Focused Sectors : Fintech, Computer, Network Security, Software, Delivery Service, Logistics, Retail Technology, Same Day Delivery, Women Founded, Women-Led, Cyber Security, SaaS, Security, Advertising, Marketing, Information Technology
• Present In : Maryland
• Notable Investments : Sickweather, Artichoke, Moonlighting, ScoreStream, Pulse 8, Datasnap.io

Paul Palmieri is a seasoned angel investor and the Managing Partner of Grit

Capital Partners. Palmieri often invests in seed and early-stage startups, looking for innovative solutions and strong founding teams.

Before founding Grit Capital Partners, Palmieri co-founded and led Millennial Media, a mobile advertising company, as Chairman and CEO from 2006 to 2014.

When investing in businesses, Palmieri focuses on data-driven businesses with scalable models and a clear path to profitability. He values strong leadership, market potential, and innovative technology.

The investment range of Paul Palmieri lies between $50,000 to $250,000

Mike Ward

• Contact :Mike Ward | LinkedIn
• Focused Sectors : Fintech, Edtech, Computer, Network Security, Software, Same Day Delivery, Women Founded, Women-Led, Cyber Security, SaaS, Security, Advertising, Marketing, Messaging, E-Commerce, Information Technology, Asset Management, Enterprise Resource Planning (ERP), Enterprise Software, Food and Beverage, Employment, GovTech, Analytics
• Present In : Maryland
• Notable Investments : Taulia and Applyboard

Paul Palmieri’s journey is rooted in innovation. He has over 17 years of experience in venture capital, having joined QuestMark Partners in 2004, where he became a Partner in 2006 and a General Partner in 2013.

Moreover, Ward focuses on expansion-stage companies, particularly in sectors like SaaS and enterprise software. He prefers to invest in startups that have demonstrated market traction, scalability potential, and innovative technology.

Ward has a background in management and strategy consulting, having worked at The Boston Consulting Group (BCG) before his venture capital career. He also served as an Intelligence Officer in the U.S. Navy.

The investment range of Mike Ward lies between $500,000 to several million dollars.

Justin Label

• Contact :Justin Label | LinkedIn
• Focused Sectors : Software, Enterprise Software, Internet, Developer APIs, Developer Platform, Cyber Security, Internet of Things, Developer Tools, Network Security, Cloud Security, AI, Cloud Infrastructure, FinTech, SaaS, Security
• Present In : Maryland
• Notable Investments : Virgil Security, Sublime Security, GreyNoise Intelligence, and NanoVMs

Justin Label is the Managing Director of Inner Loop Capital, a venture capital firm he founded in 2014. Label typically invests in pre-seed and seed-stage startups, looking for innovative solutions and strong founding teams.

Before founding Inner Loop Capital, Label was a partner at Bessemer Venture Partners from 2001, where he worked as a senior tech investor. He has also been a member of the Baltimore Angels, as a VC manager.

Like most other angel investors, Justin Label focuses on data-driven startups with scalable models and a clear path to profitability. He values strong leadership, market potential, and innovative technology.

The average check size of Justin Label lies between $100,000 to $600,000.

Sally Rockey

• Contact :Sally Rockey - Rockey Consulting | LinkedIn
• Focused Sectors : Banking, Finance, Financial Services, FinTech, Lending, Marketplace
• Present In : Maryland
• Notable Investments : LoanStreet

As a recent startup investor,   Dr. Sally Rockey also likes to fund fintech companies in Maryland. She is the CEO of Rockey Consulting and has a rich background in agricultural and biomedical research administration.

Before becoming an investor, Dr. Sally served as the Executive Director of the Foundation for Food & Agriculture Research from 2015 until her retirement in 2021.

When investing in business, Rockey prefers to look for startups with strong scientific foundations, innovative solutions, and the potential for significant societal impact. She values strong leadership teams, clear paths to market, and scalable business models.

The investment range of Sally Rockey lies between $100,000 to $300,000.

What Percentage Do Angel Investors Take?

Angel investors often take 2% to 15% equity in a startup , but that’s not a set or pre-defined number. You would have seen many investor agreements where businesses sign funding deals, handing over 40-45 percent of equity.

The equity percentage depends upon the business stage, investment size, and many other factors. Here are some of them explained below:

1. Investment Size and Company Valuation

The amount of investment and the startup's valuation are two key factors. Larger investments usually result in a higher equity stake.

For instance, an angel investing $500,000 might expect closer to 15% equity, while smaller investments may lead to a stake of around 2-5%.

2. Stage of the Startup

Early-stage startups mostly give up more equity since the risk is higher.

However, companies with proven market traction may negotiate for lower percentages, as their valuation is stronger and less equity is needed to attract funds.

3. Negotiation

The most important aspect while deciding the equity is your negotiation.

In most deals, investors will always push for board seats or additional rights, impacting the final percentage. Not to forget that many deals involve convertible notes or other hybrid financing structures, which can change the immediate equity stake.

Wrap-Up:

So, wrapping it up, the list of top investors will surely help you find the right people and secure investment, provided that you:

• Know Your Startup Inside Out
• Identify Ideal Investors
• Leverage Your Network
• Prepare for Due Diligence
• Negotiate Strategically