GGV Capital launches Embedded Fintech 50

by James · February 11, 2023

Convening 57 investment firms to highlight rising stars in Fintech Innovation

NEW YORK, 1 February 2023 /PRNewswire/ — GGV Capital, a global venture capital firm, launched its first Embedded Fintech 50 list today in partnership with Crunchbase. The Embedded Fintech 50 (http://embeddedfintech50.com) recognizes the 50 most promising embedded fintech companies in the eyes of investors. In celebration of the launch, the honoree will ring the closing bell on the Nasdaq MarketSite today.

GGV Capital convened 57 prominent investment firms to nominate and vote for the 50 honorees. Some of the participating firms include Benchmark, Bessemer Venture Partners, Coatue, Founders Fund, General Catalyst, Greenoaks, ICONIQ Growth, IVP, Khosla Ventures, QED Investors, Ribbit Capital, Sequoia Capital, Thrive and Wellington.

After raising more than 12 billion dollars collectively, the Embedded Fintech 50 demonstrates the enthusiasm of venture capital investors in the growth and innovation of this sector. Half of those honored are Series A or B companies in the early phase that have raised less than 100 million dollars. Fifteen honorees are mid-sized companies that have traveled 100 million dollars–250 million dollars. Ten honorees are late-stage companies that have raised more than 250 million dollars. Diverse founders, including female executives, lead 40 percent of the companies from 10 cities across the United States

Financial services are fundamental enablers of trade. The next phase of fintech innovation will be characterized by financial services that integrate closer to commercial activity, meet end users when needed, and integrate data and information exchange directly into transaction flows for better decision-making. The market value of listed fintech companies stands for 650 billion dollarswhich is about five percent of 14 trillion dollars market value for public financial services.

“Embedded fintech is a bright spot in today’s market and it’s exciting to see how companies are democratizing access to financial services through technology,” said Hans Tung, managing partner of GGV Capital. “We believe the continued development and innovation in today’s embedded fintech landscape will drive growth and make up a much larger portion of the financial services market over time. Congratulations on the Embedded Fintech 50 honors!”

GGV Capital is a long-standing investor in the global fintech sector, with more than 25 investments, including Affirm (AFRM), Divvy Homes, Grab (GRAB), Northstar, Novo, Pinwheel, Square (SQ), Stori and Thunes. The firm launched the Embedded Fintech 50 to track the evolution of this important ecosystem and recognize the rising stars of the fintech sector annually.

Methodology

More than 175 embedded fintech companies were nominated by 57 investment firms, including GGV Capital, and in partnership with Crunchbase. To ensure a representative and inclusive list, investment firms provided an equal number of portfolio companies and non-portfolio companies. Participating firms then voted on the overall list, and the top 50 were recognized as Embedded Fintech 50 honorees. Nomination criteria included companies with a primary product focus on fintech, the US as a primary market, and Series A stage or beyond. Embedded fintech is defined as financial service platforms or financial service providers that are integrated into commercial or financial service platforms. For more information on remunerated, participating investors and methodology, visit: https://www.embeddedfintech50.com.

About GGV Capital

GGV Capital is a global venture capital firm that partners with entrepreneurs to build category-leading companies worldwide. Focused on multi-stage, sector-focused investments, GGV manages 9.2 billion dollars in assets across the United States, China, Southeast Asia, Israel, Latin Americaand India. Founded in 2000 with roots in Singapore and Silicon Valley, GGV has backed more than 500 companies, including Affirm, Airbnb, Alibaba, BigCommerce, Boss Zhipin, Bowery Farming, Grab, Full Truck Alliance, HashiCorp, Hello, Keep, Kujiale, NIU, Opendoor Technologies, Peloton, Poshmark, Slack, Square, StockX, Udaan, Wish, XPeng, Zendesk and more. More information can be found at www.ggvc.com and @ggvcapital.

Embedded Fintech 50 Honorees

Alloy
Array
Astra
Aven*
Balance
Brightwheel*
Candex
Maintenance of the canopy
Catch
Check HQ
Carillon
Coast
Codat
Column tax
Divvy Homes*
Drivewealth
Finch
Phoenix
Form
brew
Lily
Lithic
Loop
Melio
Mercury
Merge
Middle desk
Modern treasury
Move
Moss
The North Star*
Nova Credit
Novo*
Orum
Papaya Global
Kerosene
Pinwheel*
Plaid
Ramp
Self book
Sentilink
Decide
Skip over
Socure
Stripe
TruckSmarter
Unit
Work flow*
Wrapbook
X1