Hot Fintech Summer – Culture Edition

By Anne-Frances Hutchinson

Workplace culture is having a moment. Vibrant collaborative cultures are blooming in a talent-strapped industry where the pace of change is dizzying, and expectations are off the charts. Smart fintech leaders have caught on to the power of community and the success that comes from knowing what matters most to their people: Respect. Agency. Financial freedom and stability. Growth. These five fantastic fintechs go way beyond basic to shore up the people shaping the sector’s future.

SoFi

This year, SoFi’s “Get Your Money Right” slogan could use an extra two words to make it pop: “We Did.” After a painful $301 million loss in 2023, their net income blazed to $499 million last year and is on track to maintain that hard-won profitability this year. With a mission to help people achieve financial independence, their trio of business lines cover lending, financial services, and technology platforms. SoFi is also a digital banking leader, offering products like current and savings accounts, investment options, insurance, and lending solutions.

SoFi’s people are supported by a sumptuous raft of benefits that has something for everyone. Baseline bennies include health and wellness coverage with access to mental health services and free coaching and therapy. The care continues through life’s continuum, from help with family planning needs including maternity, egg-freezing, fertility, adoption, pediatrics, parenting, menopause and surrogacy assistance, to fully paid parental and maternity leave, and paid caregiver leave. PTO covers vacation, bereavement, jury duty, sick leave, and disability. There’s a lot more on offer, including over $5,000 in annual tuition reimbursement, company-paid student loan reimbursement, robust continuing education programs, and even pet insurance.

We could go on about social events and other perks, but what stands out brightest for SoFi are their nine employee-led resource groups, SoFi Circles. These safe spaces give everyone meaningful opportunities to connect, be seen and heard amongst peers, and truly belong. The circles create a network of individual communities that look like SoFi’s customers: people of color, veterans, women, LGBTQ+, persons with disabilities, parents, and those living with grief.

Chime

Paying lip service to culture restrains productivity, retention, and profits. This rang a bell in 2012 when Chris Britt and Ryan King (CEO and CTO, respectively) envisioned Chime as an alternative to traditional banking that would serve low-income communities and those living paycheck to paycheck. When Chime debuted in 2014, they had 7 million underserved customers in their sights. Today, their mobile banking app, which offers no-fee accounts and early paycheck access, is used by 22.3 million people, half of whom use Chime exclusively for their financial needs. Nearly half of Chime’s customers come from word of mouth and referrals.

You don’t get free marketing like that without employees who are all-in on your mission. Chime’s civic-minded crew is all about speeding up equity and prosperity, being kind, celebrating humanity, and enriching members’ lives. The company creates safe, inclusive, and collaborative environments for employees (Chimers) to do their best work and invest in programs and events to help Chimers find community regardless of their location. Chime’s values are the framework for their success on every level and living them has built a remarkable culture.

Chimer Resources Groups provide community, support, and education to every Chimer. The company’s free-wheeling naming conventions gives a glimpse at their humor, too: The Chimmigrants supports the immigrant community; ChimeHers is a safe space for women and non-binary persons; the AfroChime, Chimigos, and PacifiChime groups celebrate rich heritage; and LBGTQ+ folks find their way to ChimeOut. Lip service? Not at Chime, pioneers of one of the hottest, most productive cultures in the industry.

Pumpkin Pet Insurance

Pumpkin has a bone to pick with industry standard pet insurers whose expense and access to care lessen the amount of time we have with our furred, finned, and feathered loved ones. This insurtech prefers to be grounded in data and research and aided by technology as they crush the barriers to better animal health. There are no upper age limits or breed exclusions, owners can see any licensed vet in the U.S. or Canada, there’s a 90% cash back reimbursement option and a 10% multi-pet discount. Established in 2020, Pumpkin is one of the fastest-growing pet insurance and wellness brands in America. Woof!

The company’s offices in Columbus, Ohio, and Manhattan aren’t just pet friendly – pets rule the roost. Pumpkin’s pet-first office design has lots of comfy places for pets to hang out in, and a bounty of toys and treats to keep beasts and humans playful and happy throughout the workday. Fulfillment is at the heart of their benefits, which includes customized professional development tracks, job training and conferences, mentorship, personal development training, and Lunch & Learn sessions.

Pumpkin’s hybrid work environment enables the pack to provide a path to the best pet health possible, and most colleagues work two or three days in-person. Other Pumpkin perks include paid parental leave, generous PTO, a 401K with matching contributions, and of course, Pumpkin Insurance and preventive care for every pet in their menagerie. CEO Alex Douzet sums it up this way: “At Pumpkin, we’re dedicated to helping our employees find the work that they excel at and love.”

Mercury

Founded to make banking better for startups, this fintech creates products that simplify financial management, offering solutions for SaaS, e-commerce, venture capital, crypto, accounting firms and other young companies. Mercury accounts are structured as individual demand deposit accounts, which gives customers full ownership, transfer rights, and FDIC insurance eligibility by law without dealing with complex interfaces, middleware, and hidden fees. 95% of Mercury’s employees agree that the certified Great Place to Work really is great, and that exuberance reaches over 200K customers.

From their swag and merch to team trips, office events, and professional development, Mercury leadership is fully invested in crafting an intentional employee experience. For employees who prefer the experience of working anywhere but in an office building, Mercury’s remote-first culture is a dream come true. People who would rather the bricks and mortar experience have the option to work from a Mercury office in San Francisco, New York, or Portland. Thoughtful benefits support the needs of remote work culture, including a $600 custom work-from-home equipment setup, monetary contributions to food, wellness, and cellphone budgets, and a yearly $1,000 learning and development budget.

Their unlimited vacation policy has a mandatory minimum, and after workers’ five-year anniversary comes, they get a paid six-week sabbatical. Fulsome health, dental and vision coverage, over 12 weeks of paid parental leave, a 401K that matches 4% of base salary are standard, as are inclusive fertility, hormonal health, and family-forming benefits for the startup of new lives.

Nova Credit

Applying for loans can be complicated when you have abundant good credit. When you don’t, it’s impossible. By aggregating global credit bureau and bank transaction data, Nova Credit blends the best attributes of a credit bureau with flexible infrastructure and analytics, making it possible for credit decision-makers to harness the power of alternative credit and open banking data, building an inclusive financial system for millions of people around the world.

Created to help global citizens apply for financial services in their new home using their credit history from their country of origin, Nova technology translates international credit data into a local-equivalent score to serve customers in several countries around the world, and improves access for new-to-credit, thin-file, and no-file applicants here.

Nova’s culture is designed for everyone to feel at home and have access to the resources they need to succeed. The workforce reflects the company’s customers: 20% are from an under-represented minority, 46% are women or non-binary, 25% are parents or caregivers, and 30% are first-generation immigrants.

Team members are currently working in 10 states, five countries and four continents, and most roles are remote-eligible. Nova’s plentiful benefits mirror other companies listed here in some respects, but one particular perk is a true stunner. On each work anniversary, Nova Credit subsidizes one roundtrip flight anywhere in the world. From Sweden to Shanghai or from Newark to Nantucket, Novans can take trips of a lifetime on the company’s dime. Sign us up!