Socure Named to GGV Capital’s Inaugural Embedded Fintech 50 List

Rhea-AI Summary

Socure, a leader in digital identity verification, announced its recognition on the Embedded Fintech 50 list, launched by GGV Capital and Crunchbase. This prestigious list showcases the most promising fintech companies as perceived by startup investors. With over $12 billion raised by the honorees, this recognition underscores the growth potential and innovation within the fintech sector. Socure's advanced platform utilizes machine learning and AI, ensuring accurate identity verification and fraud prevention, catering to over 1,500 customers across various industries, including major banks and fintechs.

Positive

• Recognized in the Embedded Fintech 50 list, highlighting industry leadership.
• Company's platform integrates advanced machine learning and AI for superior identity verification.
• Serves over 1,500 customers including major banks and fintechs.

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• None.

Company Recognized for its Innovation and Market Leadership in Identity Verification and Fraud Prevention

INCLINE VILLAGE, Nev.--(BUSINESS WIRE)-- Socure, the leading provider of digital identity verification and fraud solutions, today announced it 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 startup investors. GGV Capital convened 57 investment firms to nominate and vote on the 50 honorees. 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.

“We are honored to be included with such an elite group of companies and thank GGV Capital for naming us to this list,” said Johnny Ayers, founder and CEO of Socure. “As payments become embedded into every consumer application, it is more important than ever that identity solutions enable trust in this new era of commerce as well as the ability to accurately identify digitally native customers quickly. We're excited to be recognized for our work in the next era of embedded fintech and that the traction we’ve made in the industry continues to be celebrated."

Socure is the market leader and highest valued company in the identity verification space. Its graph-defined platform combines advanced machine learning and artificial intelligence with all elements of a consumer's identity to deliver the most accurate and robust identity verification and proofing, Know Your Customer (KYC), and fraud risk prediction solutions in the market.

“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 development of the embedded fintech landscape and further creative innovations to come. Congratulations to the Embedded Fintech 50 honorees!”

About Embedded Fintech 50

Embedded Fintech 50 includes the most promising embedded fintech startups as nominated and voted on by investment firms. GGV Capital launched the list in partnership with Crunchbase and convened 57 investment firms to develop the inaugural 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, U.S. as a primary market, and Series A stage and 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 participating investors and list 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 investments 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.

About Socure

Socure is the leading platform for digital identity verification and trust. Its predictive analytics platform applies artificial intelligence and machine learning techniques with trusted online/offline data intelligence from physical government-issued documents as well as email, phone, address, IP, device, velocity, date of birth, SSN, and the broader internet to verify identities in real time. The company has more than 1,500 customers across the financial services, government, gaming, healthcare, telecom, and e-commerce industries, including four of the top five banks, 13 of the top 15 card issuers, the top three MSBs, the top payroll provider, the top credit bureau, the top online gaming operator, the top Buy Now, Pay Later (BNPL) providers, and over 250 of the largest fintechs. Marquee customers include Chime, SoFi, Robinhood, Gusto, Public, Poshmark, Stash, DraftKings, State of California, and Florida's Homeowner Assistance Fund. Socure customers have become investors in the company including Citi Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank, and Synchrony. Additional investors include Accel, T. Rowe Price, Bain Capital Ventures, Tiger Global, Commerce Ventures, Scale Venture Partners, Sorenson, Flint Capital, Two Sigma Ventures, and others.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230202005131/en/

Angela Griffo, Socure

Email: angela.griffo@socure.com

Mobile: +1 917-915-8563

Christine Hinton, GGV Capital

Email: chinton@ggvc.com

Mobile: +1 415.939.0139

Source: Socure

FAQ

What is the Embedded Fintech 50 list?

The Embedded Fintech 50 list recognizes the most promising fintech companies as nominated by investment firms, launched by GGV Capital in partnership with Crunchbase.

How much funding has the Embedded Fintech 50 companies raised?

Companies recognized in the Embedded Fintech 50 have raised over $12 billion collectively.

What technologies does Socure use for identity verification?

Socure leverages advanced machine learning and artificial intelligence to enhance the accuracy of identity verification and fraud prevention.

Who are some of Socure's key customers?

Socure's clientele includes major banks and fintechs, with over 1,500 customers across various sectors.

What is the focus of Socure's business?

Socure specializes in digital identity verification, applying predictive analytics to ensure real-time identity checks and fraud risk predictions.