Modern treasury named Embedded Fintech 50
Modern Treasury recognized as a top money movement modernization software company
SAN FRANCISCO, February 1, 2023–(BUSINESS WIRE)–Modern Treasury, the operating system for the new era of payments, was named to the Embedded Fintech 50, a list launched by GGV Capital in partnership with Crunchbase, to recognize the most promising fintech companies in the eyes of startups investors.
GGV Capital convened 57 securities firms to nominate and vote for the 50 honorees. Having raised more than $12 billion, the Embedded Fintech 50 demonstrates the enthusiasm of venture capital investors in the growth and innovation of this sector. To celebrate, the honorees will ring the closing bell on the Nasdaq MarketSite today.
“We are thrilled to be included on this esteemed list as we bring modern payment software to more and more companies in the midst of a new era of payments,” said Dimitri Dadiomov, Modern Treasury CEO and co-founder. “Embedded fintech will accelerate the modernization of the movement of money, help companies build products that exceed customer expectations, unlock new revenue streams and drive efficiency into their business.”
Modern Treasury has quickly become the market leader in payment operations modernization, partnering with top companies across industries to help them build better products, simplify payment operations and make stronger financial decisions.
“Embedded fintech is a bright spot in today’s market, and it is exciting to see how companies are democratizing access to financial services through technology,” said Hans Tung, managing partner at GGV Capital. “We are excited for the continued evolution of the embedded fintech landscape and further creative innovations to come. Congratulations on the Embedded Fintech 50 honors!”
About Modern Treasury
Modern Treasury is the operating system for the new era of payments, helping businesses unlock growth, improve customer experiences and drive efficiencies throughout the business. The payment operations platform and best-in-class developer tools bring businesses forward with faster payments, efficient workflows, full data visibility and seamless banking integrations. Founded in 2018, San Francisco-based Modern Treasury serves leading companies across broad sectors of the economy such as ClassPass, Gusto, Marqeta, Procore, TripActions and more, and is backed by investors Altimeter Capital, Benchmark and Y Combinator.
About Embedded Fintech 50
The Embedded Fintech 50 includes the most promising embedded fintech startups nominated and voted on by investment firms. GGV Capital launched the list in partnership with Crunchbase and convened 57 investment firms to develop the first list. This year, 175 companies were nominated, and 50 were selected through a voting process that required the nomination of portfolio and non-portfolio companies. Nomination criteria included companies with a primary product focus on fintech, the US as a primary market and the Series A stage. 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 participating investors and listing 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 in investments across the US, China, Southeast Asia, Israel, Latin America and India. Founded in 2000 with roots in Singapore and Silicon Valley, GGV has supported 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.
See the source version at businesswire.com: https://www.businesswire.com/news/home/20230201005774/en/
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