The Medici initially came to prominence through their banking. At the time, usury was still forbidden by the Catholic church. They were able to come up with rationale to justify it. They became involved loaning money to many key players in Europe and were smart enough to avoid loaning money to those that would not repay (such as Monarchs). They had huge amounts of money and supported many of the key figures of the renaissance. They later parlayed their influence into political control and provided four popes and monarchs.
Machiavelli was involved with their political endeavors (though they would often not give him credit.) Michelangelo and Leonardo da Vinci both had commissions from the Medicis. They were behind almost all of what we consider to be the renaissance in Florence.
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