Top Massachusetts Fintech Angel Investors

Massachusetts is known as a hub for fintech startups. Many of the state’s cities like Boston, Lexington, and Cambridge have shown exceptional growth, developing a Fintech powerhouse.

In a recent interview, Mike Fanning, Mass Fintech Hub Co-Chair & Former Head of MassMutual U.S. said:

'Massachusetts has seen astounding progress in fintech innovation across the Commonwealth over the last four years and through a global pandemic - from the formation of the FinTech Working Group in early 2020 to the launch of the Mass Fintech Hub in 2021, to where we are now,'

But with these amazing statistics and massive growth, who are those active investors, contributing to the Massachusetts Fintech ecosystem?

Let us answer these questions with the following list of the top angel investors in Massachusetts who are supporting fintech startups.

Discover The List of Top Angel Investors in Massachusetts Who Invest in Fintech Startups

Ryan Gunther

• Focused Sectors: Enterprise Software, Marketing, Marketing Automation, Software, Cloud Management, Information Technology, IT Infrastructure, Management Information Systems, Logistics, Supply Chain Management, Warehousing, Email, SaaS, Sales, Sales Automation, Health Care, Medical
• Present In: Boston
• Notable Investments: Erico Global, Clix Capital, Sepaton, Custom Ink, Innoveer Solutions, Essentra

Ryan Gunther is the most active angel investor in Massachusetts with a strong interest in early-stage startups. He prefers investing in companies with disruptive technologies, a scalable business model, and a strong team.

Gunther has also worked at several firms, including Pentium Capital Partners where he serves as a managing director.

Since starting his investment journey over a decade ago, Gunther has funded around 35 startups and has an average check size of around $700,000.

Sarah Choi

• Focused Sectors: Artificial Intelligence, Biometrics, Facial Recognition, Fraud Detection, Identity Management, Machine Learning, Advertising Platforms, B2B, Digital Marketing, Marketing Automation, SaaS, Accounting, Banking, Finance, Financial Services, FinTech, Payments, Software, Analytics, Apps, CRM
• Present In: Massachusetts
• Notable Investments: ManagedStorage International, Spark Networks SE, Neumont College of Computer Science, Bswift.

Having funded over 30 startups in 1 decade, Sarah Choi is a seasoned angel investor who focuses on early-stage startups, particularly in the tech sector.

Choi usually makes investments in startups through networking events and fundraisers, selecting businesses that can at least generate 2-3x ROI. She looks for companies that demonstrate market fit and a strong potential for growth, which aligns with her focus on high-impact, disruptive technologies.

The investment range of Sarah Choi falls between $50,000 and $500,000 per deal.

Julia Kuo Chen

• Focused Sectors: Delivery Service, E-Commerce, Food and Beverage, Online Portals, Hispanic / Latinx Founded, Women Founded, CRM, EdTech, Lead Generation, Marketing, Software, Employee Benefits, Human Resources, Insurance
• Present In: Massachusetts
• Notable Investments: Digital Marketing Institute, IBFX, PicMonkey, SurveyMonkey, Tenstreet, Ease, GoodRx, AllTrails, 180Solutions, Verisys Corporation, Vendavo.

Julia Kuo Chen is an active investor in the fintech and AI sectors, backing growth-stage startups with robust potential.

However, as time has passed, she has diversified her investment interest and funds a wide range of startup sectors. Chen has also worked at Sequoia Capital as a senior associate, where she was involved in evaluating early-stage startups.

Till now, Julia has funded more than 20 startups as a part of her investor career and usually invests around $1M.

Daniel McBee

• Focused Sectors: Consulting, Financial Services, Food and Beverage, Food Processing, Nutrition, Organic Food, IT Infrastructure, IT Management, Software, Computer, Developer Platform, Cyber Security, Information Technology, Network Security
• Present In: Massachusetts
• Notable Investments:  Ivanti, HelpSystems, StoneCastle, DoiT International, Xenogen Corporation, Healthcare Fraud Shield, Cyberbit, Aptean

As a seasoned investor, Daniel McBee has also funded over 10 startups in Massachusetts in the last 5 years.

He tends to invest in companies at the seed and Series A stages, seeking out founders who have a clear vision, deep expertise, and a product with a strong market fit. McBee looks for companies that are introducing unique solutions to problems such as data security, efficiency, cross-border payments, and interoperability.

The investment range of Daniel McBee lies between $100,000 and $500,000, depending upon the startup’s market and estimated ROI.

Joshua Klevens

• Focused Sectors: Fintech, Cleantech, Healthcare, Education, Digital Marketing, Finance, Insurtech
• Present In: Massachusetts

Joshua Klevens is an angel investor focusing on early to mid-stage startups. He started funding startups in 2017 and has invested in over a dozen companies. Before becoming an angel investor, Klevens worked as an associate at Accel Partners and later at Bain Capital, focusing on growth-stage investments.

He invests in startups that already have some traction or a minimum viable product (MVP) and are at seed or Series A stages, as this allows him to support businesses with high potential for rapid growth.

The investment range of Joshua KLevens lies between $100,000 to $1.5M.

Jason Krantz

• Focused Sectors: Big Data, Database, FinTech, Hedge Funds, Impact Investing
• Present In: Massachusetts
• Notable Investments: FINTRX and SponsorHub

Known as a famous business mentor, Jason Krantz also likes to invest in the Massachusetts fintech ecosystem. He started funding startups in 2019 and has funded around 10 early-stage startups.

Like most other investors, Jason Krantz focuses on seed and early growth stages, where he can contribute mentorship and strategic insights. Krantz is known for prioritizing startups with strong, data-centric solutions that address modern challenges. He looks for companies that demonstrate market traction, a clear competitive advantage, and a capable founding team.

Before becoming an angel investor, Krantz founded and led several successful businesses, most notably Definitive Healthcare. He has an average check size of $400,000.

Angel Investors VS VC Firms: Which One Is the Right Choice For You?

VC firms and angel investors have always been fighting the “perfect investor choice battle”. While some think that VC firms only fund growth-staged or early-stage startups, that isn’t the only thing that sets them apart.

Here are 3 major differences between VC firms and angel investors.

1. Investment Size:

Most angel investors provide smaller amounts, ranging from $10,000 to $700,000, which makes them ideal for seed or early-stage funding.

However, Venture capitalists, on the other hand, mostly invest much larger sums, starting around $1 million, making them more suitable for later-stage companies that need significant capital to scale rapidly.

In both cases, it should be understood that exceptions always exist, and there are many VC firms/angel investors who invest at different stages of a startup.

2. Involvement and Control

Angels are more hands-on with mentorship, providing guidance and industry expertise while taking smaller equity stakes (5%–15%). They are also more flexible and may not demand board seats or extensive control.

However, VCs often require more influence over the company, typically securing board positions and being more involved in strategic decisions to protect their larger investments​.

Risk Tolerance:

The biggest difference between angel investors and VC firms is their risk tolerance. Angels tend to have a higher risk tolerance compared to VC firms. They are often willing to back startups based solely on the strength of the founder’s vision or early-stage potential, even when the company may have little to no revenue.

In contrast, VCs are more risk-averse and prefer startups with proven traction, such as early product-market fit or customer acquisition, and are positioned for scaling.

Wrap-Up:

To sum it up, Massachusetts is home to many famous angel investors.

If you are in the early stages and need a smaller amount of funding to develop your product or test the market, pitching to recent angel investors may be the best route.

This is because angel investors who have a small portfolio are looking to expand it further and are eager to invest.