GGV Capital Launches the Embedded Fintech 50

Rhea-AI Summary

On February 1, 2023, GGV Capital introduced the Embedded Fintech 50, showcasing 50 standout embedded fintech companies. The initiative, developed alongside Crunchbase, involved 57 leading investment firms nominated and voting for the honorees, who will celebrate by ringing the Nasdaq Closing Bell. The selected companies represent various funding stages, with half being early-stage startups that have secured under $100 million. The public fintech market cap is currently estimated at $650 billion, highlighting continued investor interest in fintech innovation.

Positive

• GGV Capital launched the Embedded Fintech 50 list with collaboration from Crunchbase, emphasizing rising fintech companies.
• The initiative involved nominations from 57 prominent investment firms, promoting a collaborative approach in recognizing fintech innovation.
• The selected companies have collectively raised over $12 billion, indicating strong investor confidence in the fintech sector.

Negative

• None.

Convenes 57 Investment Firms to Highlight Rising Stars in Fintech Innovation

NEW YORK, Feb. 1, 2023 /PRNewswire/ -- GGV Capital, a global venture capital firm, launched its inaugural 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, honorees will ring the Closing Bell at the Nasdaq MarketSite today.

GGV Capital convened 57 prominent investment firms to nominate and vote on 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.

Having raised more than $12 billion collectively, the Embedded Fintech 50 demonstrates the enthusiasm of venture capital investors in the growth and innovation of this sector. Half of the honorees are early-stage Series A or B companies that have raised less than $100 million. Fifteen honorees are mid-stage companies that have raised $100 million-$250 million. Ten honorees are late-stage companies that have raised more than $250 million. Diverse founders, including women leaders, lead 40 percent of the companies from 10 cities across the U.S.

Financial services are fundamental enablers of commerce. The next phase of fintech innovation will be marked by financial services integrating closer to commercial activity, meeting end-users at the point of need, and embedding data and information exchange directly into transaction flows for improved decision-making. The market cap of publicly traded fintech companies account for $650 billion, which is approximately five percent of the $14 trillion market cap of public financial services companies.

"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 believe the continued development and innovation in today's embedded fintech landscape will drive growth and account for a much larger slice of the financial services market over time. Congratulations to the Embedded Fintech 50 honorees!" 

GGV Capital is a longtime 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 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 submitted an equal number of portfolio and non-portfolio companies. Participating firms then voted on the aggregate list and the top 50 were recognized as honorees on the Embedded Fintech 50. Nomination criteria included companies with a primary product focus on fintech, the U.S. as a primary market, and Series A stage or beyond. Embedded fintech is defined as financial service platforms or financial service providers that integrate into commercial or financial service platforms. For more information about honorees, participating investors, and methodology, visit: https://www.embeddedfintech50.com.

About GGV Capital

GGV Capital is a global venture capital firm partnering with founders to build category-leading companies around the world. Focused on multi-stage, sector-focused investments, GGV manages $9.2 billion in assets across the U.S., China, Southeast Asia, Israel, Latin America, and 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
Canopy Servicing
Catch
Check HQ
Chime
Coast
Codat
Column Tax
Divvy Homes*
Drivewealth
Finch
Finix
Forma
Jetty
Lili
Lithic
Loop
Melio
Mercury
Merge
Middesk
Modern Treasury
Moov
Mos
Northstar*
Nova Credit
Novo*
Orum
Papaya Global
Parafin
Pinwheel*
Plaid
Ramp
Selfbook
Sentilink
Settle
Skipify
Socure
Stripe
TruckSmarter
Unit
Workstream*
Wrapbook
X1

*Represents a company in GGV Capital's portfolio

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SOURCE GGV Capital

FAQ

What is the Embedded Fintech 50 launched by GGV Capital?

The Embedded Fintech 50 is a list recognizing the 50 most promising embedded fintech companies, created by GGV Capital in partnership with Crunchbase.

How many companies were nominated for the Embedded Fintech 50?

More than 175 embedded fintech companies were nominated by 57 investment firms for the Embedded Fintech 50.

When was the Embedded Fintech 50 list announced?

The Embedded Fintech 50 list was announced on February 1, 2023.

What is the public market cap for fintech companies?

The market cap of publicly traded fintech companies is approximately $650 billion.