Top Illinois Fintech Startup Investors

The fintech industry represents a major part of Illinois’s economy with around 1,200 companies raising more than $5 Billion in 2022. The state also has an exceptional talent of finance graduates who are ready to boost the fintech sector and can ensure a growth rate of 20% between 2024-2027, as predicted by Forbes.

But, with all those amazing growth statistics, you might be thinking… Are there any active angel investors who fund fintech startups in Illinois?

Yes! There are dozens of angel investors who are providing the much-needed investment and guidance to help fintech startups thrive. Following is the list of topinvestors in Illinois who fund fintech startups.

Find out The Top 8 Angel Investors  Who Fund Fintech Businesses in Illinois

Terry Kiwala

• Reach Out: Terry Kiwala, CFA | LinkedIn
• Focused Sectors: Digital Marketing, E-Commerce, Computer, Robotics, SaaS, Banking, Financial Services, FinTech, Biotechnology, Health Care, Health Diagnostics, Medical Devices, Consumer
• Present In: Illinois
• Notable Investments: Movero Technology, CSA Medical, Wimba, HandymanOnline.com, REALTECH AG, Scale Computing, bTrade.com, ViralGains, NETdelivery, Extraprise, SynergySuite, Netchex Online

Terry Kiwala is the most active and biggest individual angel investor in Illinois, having over two decades of experience in finance and investment. He is currently a Vice President at First Analysis Venture Capital, where he focuses on enterprise productivity software .

He invests in early-stage startups, providing seed and Series A funding. Terry Kiwala is also known for his hands-on approach, often participating in screening contests and pitching events to discover promising startups.

The investment range of Terry Kiwala lies between $100,000 to $1M.

Christopher Stalcup

• Reach Out:Christopher Stalcup, MBA, CFA | LinkedIn
• Focused Sectors: Artificial Intelligence, Information Technology, Machine Learning, SaaS, Software Engineering, Hispanic / Latinx Founded, Hispanic / Latinx Led, Cannabis, E-Commerce, Financial Services, FinTech, Mobile Payments
• Present In:
• Notable Investments: OneRail, Grace, Ureeka, Wise Apple, pulse data, Kin Insurance, Bound, andros, M1 Finance, Heretik, health-finch, Dina Care, Predata, CognitOps, Prefix

Christopher Stalcup is also a famous angel investor known for his interest in supporting Hispanic/Latinx-founded companies and usually invests in early-stage startups.

A little about his background, Christopher began his journey as an angel investor in the early 2010s and has since been actively involved in the startup ecosystem. He makes most of his investments by participating in startup fundraisers, incubators, and accelerator programs.

Similarly, Christopher Stalcup also has a lot of experience in the finance sector and guides his portfolio companies throughoutdifferent stages. The investment range of Christopher Stalcup lies between $50,000 to $200,000.

Howard Smith

• Focused Sectors: Fintech, E-Commerce, Internet, Women Founded, Women Led, Artificial Intelligence, Crowdsourcing, Employment, Human Resources, Recruiting, Apps, Enterprise Software, Information Technology, Management Consulting, Cloud Computing, Restaurants, Cyber Security, Network Security
• Present In: Illinois
• Notable Investments : Movero Technology, CSA Medical, Wimba, HandymanOnline.com, REALTECH AG, Scale Computing, bTrade.com, ViralGains, NETdelivery, Extraprise, SynergySuite, Netchex Online

With more than 30 individual investments in a decade, Howard Smith is also a renowned angel investor with a strong focus on Illinois's Fintech landscape. He started funding startups in 2014 and has funded many fintech startups that showed strong growth potential.

Like most other investors in the state, Howard focuses on startups that have the potential to thrive and can scale their ideas to an international level. He participates in startup fundraisers and also invests in startups through social media platforms, prioritizing startups that are solving problems.

The investment range of Howard Smith can range up to $300,000.

Peter Liu

• Focused Sectors: Artificial Intelligence, Biotechnology, Health Care, Machine Learning, 3D, E-Commerce, Grocery, Internet, Marketing, Retail Technology, Financial Services, FinTech, Mobile Payments, Payments, Environmental Consulting, Renewable Energy, Advanced Materials, Energy, Big Data, Information Technology, Blockchain, Computer
• Present In: Illinois
• Notable Investments: Dollar Shave Club, Awaycom, Active Network, Zinch, TopSchool

Peter Liu is also an active individual angel investor who invests in Illinois-based fintech startups. Before becoming an individual investor, Peter has spent a lot of time in the finance industry and has worked with many venture capital firms.

When making individual investments, Peter prioritizes startups that are solving fintech problems such as security problems, data integration, and efficient transactions. He invests in businesses that are founded by experienced leaders and can easily become future unicorns through a well-structured growth plan.

The investment range of Peter Liu can range up to $1M.

Gerald Saltarelli

• Reach Out:Gerald Saltarelli | LinkedIn
• Focused Sectors: Infrastructure, Insurance, Telecommunications, Virtual Reality, Wireless, Architecture, Financial Services, FinTech, Wealth Management, Biometrics, Security, Marketing, Music, Health Care, Information Technology, Medical, ISP, Small and Medium Businesses, Retail, Shopping, Sports, Women Founded
• Present In: Illinois
• Notable Investments: AOptix Technologies, CultureWorx, AirClic, PlayNetwork, Alteer, Envestnet, EpicEdge, Viadux, Partnerware, Motivation Online, SWELL, Vertical Bridge Holdings

Gerald Saltarelli is a seasoned angel investor and partner at Edgewater Funds, a private equity firm based in Chicago.

When making investments, he funds startups that can demonstrate a strong growth plan and have solid ideas. He likes to partner with experienced entrepreneurs and help them throughout the growth stages.

The investment range of Gerald Saltarelli can range up to $500,000.

Justin Smollar

• Reach Out:Justin Smollar | LinkedIn
• Focused Sectors: E-Commerce, Internet, Marketplace, Procurement, Real Estate, Finance, Financial Services, FinTech, Mobile Payments, Payments, Transaction Processing, Advertising, Analytics, SaaS, Women Founded, Artificial Intelligence, Big Data, Electronics, Information Technology, Predictive Analytics
• Present In: Illinois
• Notable Investments: Semantify, ForeverCar, HighGround, Shiftgig, Rippleshot, OfficeLuv, Singular, CITYBASE

Justin Smollar is a famous angel investor and the Chief Financial Officer at Method Capital.

He focuses on early-stage B2B technology companies that have completed initial software development, have recurring revenue, and possess scalable business models. He prioritizes businesses that can easily scale on an international level and have strong growth plans to provide their high ROI generation.

As an investor, Justin Smoller has a huge background in the Finance industry. He completed his Masters in Finance and has worked in many banking and VC firms. The investment range of Justin Smollar can range up to $5 Million.

Sarah Wuellner

• Reach Out:Sarah Wuellner | LinkedIn
• Focused Sectors: Big Data, Real Estate, Rental, Rental Property, Black/African American Founded, Black/African American Led, Communities, Gift, Museums and Historical Sites, Retail, Shopping Mall, Social Media, Women Founded, Apps, Finance, Financial Services, FinTech, Mobile Payments
• Present In: Illinois
• Notable Investments: Event Network, REZI, Eko

Funding fintech startups for the past 7 years, Sarah Wuellner is an active angel investor who is also the managing partner at Promus Equity.

As an investor, she prefers to invest in ventures that have a unique market idea and can easily go international. Sarah makes most of her investments through startup fundraisers and accelerators.

The investment range of Sarah Wuellner can range up to $250,000.

Bobby Mehta

• Focused Sectors: Finance, Fintech, Fraud Detection, Security
• Present In:
• Notable Investments: Orum.io and Verdata

Bobby Mehta is also an experienced angel investor who has been funding startups for many years. Before becoming an individual angel investor, Bobby served as the President, CEO, and Board member of TransUnion.

When investing in Businesses, Bobby Mehta looks to fund startups that are securing the fintech space and are introducing modern cyber protocols to enhance payment transfer methods. He strongly believes that the fintech security system has a lot of room for improvement and modern ideas need to be introduced.

The investment range of Bobby Mehta can range up to $400,000.

Wrap-Up:

In short, there are tons of angel investors in Illinois but finding an investor who matches your business interests is the real deal!

We hope the following list eased your investor search and always remember,

A good startup founder always spends extra time researching his potential investors.