GGV Capital Launches the Embedded Fintech 50

GGV Capital, a global venture capital firm, launched its inaugural Embedded Fintech 50 list today in partnership with Crunchbase. The Embedded Fintech 50 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.