Tuesday, July 29, 2025

July 29, 2025 • Estimated Reading Time: 8 minutes

Tuesday, July 29, 2025 

In today’s digest, new homes in Queens, new details on the Interborough Express, and new fintech deal data for Q2. 🆕

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  • We start with the top news everywhere in NYC today: A gunman killed four people Monday night in a shooting at a Midtown office tower. The victims include NYPD Officer Didarul Islam, Blackstone executive Wesley LePatner, Rudin Management associate Julia Hyman, and security officer Aland Etienne. (New York Times)

    • The shooting was New York’s deadliest in 25 years.

    • Learn more about the victims and the ongoing investigation here.

  • New York City Mayor Eric Adams unveiled a plan on Monday to add 3,000 homes and 60 acres of public space where Flushing Airport used to stand in Queens. (NBC New York)

    • The project is slated to create more than 1,300 union jobs and is projected to generate $3.2 billion in economic activity over a 30-year span.

    • Construction is expected to begin in 2028. 

  • The Interborough Express, a passenger rail line that would connect Brooklyn and Queens without entering Manhattan, is inching closer to becoming a reality (though it’s still a few years away). Take a “ride” on the future line in this interactive Times article. 🚆 (New York Times)

    • Roughly one million people and 250,000 jobs can be found within a half-mile of the route, and about 160,000 weekday riders are expected to use the service.

    • The project is expected to cost $5.5 billion, half of which has already been funded.


In other reading:

  • MTA considers 10% fare hike for Connecticut’s Metro-North commuters (Bloomberg)

  • 2025 is the year New York political campaigns embrace AI (City & State)

  • Viral video of a lost kitten walking into an NYC subway car has an adorable ending (NBC New York)

New York has a booming fintech scene. Globally, it’s the epicenter of tech innovation *and* the financial capital. 💰

What’s 🆕: CB Insights’ latest fintech report only solidifies NYC’s superstar status:

  • New York had $1.8 billion in funding across 81 deals in Q2 2025, the highest quarterly figure since Q4 2023.

  • A majority of the deals were early-stage (62%), followed by mid-stage (19%) and late-stage (6%) YTD. (The rest were labeled “other.”) 

  • The top equity deal last quarter came from a $200 million Series D deal from (Tech:NYC member!) Ramp.

🔎 Zooming out: It’s not just New York fintech that saw gains this quarter. Globally, and across the country, the fintech sector is hot, hot, hot. 🔥

  • For the first time since 2023, fintech funding topped $10 billion for three straight quarters. 

  • The U.S. achieved new highs, capturing 65% of megarounds and 43% of all deals.

  • B2B fintech firms brought in 60% of the largest payments and 50% of the largest banking rounds.

  • Fintech M&A deals rose to 205 in Q2, with digital assets driving exit activity.

Bottom line: The NYC fintech sector is only growing. 📈 The city boasts a big presence of industry stalwarts like Ramp, Stripe, and Rho, while still taking the time to mentor early- and growth-stage fintechs, through initiatives like the FinTech Innovation Lab. So it’s no wonder so many firms want to call the Big Apple home.

In other reading:

  • It's a gig economy for CEOs these days, too (Axios)

  • Venture investors warm to public-safety and law-enforcement tech (Wall Street Journal)

  • Do you know these books that predicted current technology? (New York Times)

  • Keye, an NYC-based AI tool designed for private equity teams, raised $5 million in seed funding from Sorenson Capital, General Catalyst, Y Combinator, ERA, Tiferes Ventures, Dunamu Ventures, Palm Drive Capital, and angel investors.

  • August 1: Tech Pickleball NYC, a growing community of over 2,000 members who come together on Friday mornings for coffee, bagels, pickleball, and good vibes. Register here.

  • August 4: NYC Founders & Funders, an evening designed to connect the city’s most driven entrepreneurs and forward-thinking investors. Register here.

  • August 5: August Tech Rooftop Mixer, for founders, investors, and tech professionals to enjoy an evening of sunset views, conversations, and connections. Register here.

  • August 5: Fashion & Fashion-tech Mixer, where you can connect with fashion-tech innovators and disruptors. Register here.

  • August 6: How to Raise a Pre-Seed Round in 2025, to learn what investors are actually looking for in 2025, how other founders broke through the early-stage wall, and who you should be talking to next whether for advice, feedback, or funding. Register here.

  • August 7: August Founder Breakfast, a private breakfast for a curated group of pre-seed to series A founders. Register here.

  • August 8: Deep Dive Into LLMs Watch Party, an all-day watch party and discussion of Andrej Karpathy’s video on LLMs. Register here.

  • September 10: NYC Summit, Primary’s annual invite-only conference, bringing together 2,000 top founders, VCs, and LPs. This year’s speakers include Larry Fitzgerald (Arizona Cardinals), David Karp (Tumblr), Toyin Ajayi (Cityblock Health), Lina Khan (FTC), Kareem Amin (Clay), and more. Apply to attend here.

  • September 23: Deep Tech Forum + Startup Showcase in NYC, bringing together deep tech startups from across the globe alongside corporate innovation leaders, investors, and ecosystem partners, for a full day of mainstage sessions and startup exhibitions. Register with promo code TECHNYC for a 20% discount here.

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