Global enterprise capital agency, GGV Capital launched their Embedded Fintech 50 record, which acknowledges corporations driving the following part of fintech innovation. In celebration of the groundbreaking corporations honored on this record, GGV Capital rang the closing bell at Nasdaq’s MarketSite whereas Nasdaq obtained to take a seat down with a few of these modern corporations.
“Embedded Fintech stays a shiny spot in right this moment’s market, and it’s thrilling to see how corporations are democratizing entry to monetary companies by means of know-how,” stated GGV Capital managing companion Hans Tung.
Embedded fintech corporations combine monetary companies with industrial exercise, assembly end-users on the level of want and embedding knowledge and knowledge trade straight into transaction flows, which allows smoother monetary transactions between companies and shoppers.
GGV Capital manages $9.2 billion in investments worldwide and has backed massive corporations that proceed to re-invent their sector right this moment. To make this record, the agency combed by means of over 175 embedded fintech corporations that had been nominated by 57 funding companies with a historical past of investing on this sector, together with GGV Capital in partnership with CrunchBase.
Corporations are nominated on the factors of a main product concentrate on fintech, a concentrate on the U.S. as a main market and a Sequence A stage or past. The highest 50 corporations are voted on by taking part companies which have a spot on the Embedded Fintech 50 record.
A number of of those corporations sat down with Nasdaq and spoke about how their firm innovates commerce.
Lithic.
Bo Jiang, CEO and Co-Founder
Lithic simplifies the method for corporations to situation credit score and debit playing cards. Traditionally, there have been solely two choices as CEO and Co-Founder Bo Jiang explains, “TurnKey which was actually rigid and inflexible, or this lengthy, drawn-out implementation course of which might take years and hundreds of thousands of {dollars}.” The corporate makes their API (software programming interface) extra accessible, which simplifies how builders construct card applications. Their purpose is to repair the availability chain for these companies and decrease the limitations for constructing new merchandise so “everyone wins”.
Wrapbook
Cameron Woodward, Co-Founder
Wrapbook’s mission, in keeping with Co-Founder Cameron Woodward, is to “enhance the prosperity of the venture financial system with higher monetary companies.” The corporate sees “an incredible alternative in empowering particular person expert staff with their very own profile, with their preferences of how they wish to be paid, and the way they wish to work, permitting them to go to work with different corporations engaged in producing tasks.”
A platform that primarily works with the movie and leisure market, the corporate effectively organizes and will increase transparency in payroll operations for a venture financial system. By way of the improved monetary companies that Wrapbook offers, particular person expert staff are given the chance to decide on how they wish to be paid and the way they wish to work.
Pinwheel,
Kurt Lin, Co-Founder and CEO
Pinwheel’s Co-Founder & CEO Kurt Lin shares a putting private narrative on why the corporate’s companies are essential to a extra accessible financial system. Lin’s father is a first-generation immigrant from a tradition that frowns upon debt. By way of recollection of a childhood reminiscence, he describes his father’s failure to take out a mortgage with no credit score rating and the emotions of frustration on this failed endeavor.
Years later, Lin realized that the present monetary system may be inaccessible for a lot of. However utilizing knowledge to bridge this hole in accessibility, many extra folks can acquire entry to life-improving monetary companies they couldn’t acquire earlier than. Pinwheel helps shoppers and companies get the required monetary paperwork already present in payroll and administrative methods to banks and lenders. This helps prospects get loans, open financial institution accounts, and many others. to allow them to construct higher companies, construct new merchandise whereas serving to banks and companies function rather more effectively.
Novo,
Michael Rangel, Founder and CEO
Novo focuses on empowering small companies by offering reasonably priced, clear banking companies. As CEO Michael Rangel explains, Novo is “a small enterprise checking account with a debit card as an attachment”. However its main product is step one into accessing a service that’s simpler for “larger small companies.”
Entrepreneurship is a daring endeavor that not solely requires braveness but in addition information of easy methods to handle transactions. This information could be a pricey useful resource accessible to few folks. By way of Novo’s product, small enterprise homeowners can centralize most of their industrial operations. Its aim is to empower extra folks to turn into enterprise homeowners.
The businesses on GGV Capital’s Fintech 50 record align with Nasdaq’s committment to fostering transformative innovation and inclusive prosperity by broadening the horizons for elevated participation in industrial transactions. As the primary digital inventory trade, Nasdaq believes that know-how ought to break down limitations to allow flourishing financial prosperity. We sit up for supporting GGV Capital and the honorees as they proceed to innovate the fintech house.