.svg)
.svg)
Global venture capital firm, GGV Capital released their Embedded Fintech 50 list, which recognizes companies driving the next phase of fintech innovation. In celebration of the groundbreaking companies honored on this list, GGV Capital rang the closing bell at Nasdaq’s MarketSite while Nasdaq got to sit down with some of these innovative companies.
“Embedded Fintech remains a bright spot in today’s market, and it is exciting to see how companies are democratizing access to financial services through technology,” said GGV Capital managing partner Hans Tung.
Embedded fintech companies integrate financial services with commercial activity, meeting end-users at the point of need and embedding data and information exchange directly into transaction flows, which enables smoother financial transactions between services and consumers.
GGV Capital manages $9.2 billion in investments worldwide and has backed large companies that continue to re-invent their sector today. To make this list, the firm combed through over 175 embedded fintech companies that were nominated by 57 investment firms with a history of investing in this sector, including GGV Capital in partnership with CrunchBase.
Companies are nominated on the criteria of a primary product focus on fintech, a focus on the U.S. as a primary market and a Series A stage or beyond. The top 50 companies are voted on by participating firms that have a place on the Embedded Fintech 50 list.
Pinwheel's Co-Founder & CEO Kurt Lin shares a striking personal narrative on why the company’s services are crucial to a more accessible economy. Lin’s father is a first-generation immigrant from a culture that frowns upon debt. Through recollection of a childhood memory, he describes his father’s failure to take out a mortgage without a credit score and the feelings of frustration in this failed endeavor.
Years later, Lin realized that the existing financial system can be inaccessible for many. But using data to bridge this gap in accessibility, many more people can gain access to life-improving financial services they couldn’t obtain before. Pinwheel helps consumers and businesses get the required financial documents already existing in payroll and administrative systems to banks and lenders. This helps customers get loans, open bank accounts, etc. so they can build better businesses, build new products while helping banks and businesses operate much more efficiently.
This article was originally published on Nasdaq.
