GGV Capital Launches Embedded Fintech 50
GGV Capital, a global venture capital firm, today announced its first Embedded Fintech 50 list in partnership with Crunchbase. The Embedded Fintech 50 recognizes the 50 most promising embedded fintech companies in the eyes of investors. Today, in honor of the launch, the laureates will ring the last bell on the Nasdaq MarketSite.
GGV Capital called together 57 well-known investment companies to nominate and vote for 50 winners. 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 over $12 billion in aggregate, the Embedded Fintech 50 showcases the enthusiasm of venture capitalists for growth and innovation in the sector. Half of the winners are companies in the early stages of Series A or B that have raised less than $100 million. The 15 winners are mid-range companies that have raised between $100 million and $250 million. The ten winners are late-stage companies that have raised over $250 million. Diverse founders, including female CEOs, lead 40 percent of companies in 10 US cities.
Financial services are the main drivers of commerce. The next phase of fintech innovation will be marked by greater integration of financial services with commercial activities, meeting end users at the point of need, and incorporating data and information sharing directly into transaction flows to improve decision making. The market capitalization of publicly traded fintech companies is $650 billion, which is roughly five percent of the $14 trillion market capitalization of state-owned financial services companies.
“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 at GGV Capital. “We believe that continued development and innovation in today’s embedded financial technology landscape will drive growth and capture a much larger share of the financial services market over time. Congratulations to the winners of Embedded Fintech 50!”
GGV Capital is a longtime investor in the global fintech sector with over 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 reward the rising stars of the fintech sector every year.
GGV Capital’s post launches Embedded Fintech 50 first appeared on Fintech Finance.
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