Company recognized for continued success of their Modern Checkout Platform
SAN FRANCISCO, Feb. 1, 2023 /PRNewswire/ -- Skipify, the Modern Checkout Platform, was named to the Embedded Fintech 50, a list launched by GGV Capital in partnership with Crunchbase, to recognize the most promising fintech companies.
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. In celebration, honorees will ring the Closing Bell at Nasdaq MarketSite today.
"We've made it easy for merchants to address a universal problem in checkout: people love the products they buy, but they don't like the process of buying them. That's why there's Skipify. 85% of shoppers prefer buying with Skipify over traditional and alternative checkout options," said Skipify CEO and Founder, Ryth Martin.
Thousands of merchants offer Skipify in their digital and in-store channels, supporting millions of checkouts a month. Skipify's checkout experience requires almost zero effort for shoppers to sign-up and complete a purchase using Skipify's proprietary integrations directly with financial institutions. As a result, merchants benefit from higher payment approval rates, increased conversion, easier repeat purchasing and gain access to a new payments ecosystem with a rapidly growing network of shoppers.
Increasingly, merchants and financial institutions are looking to technology providers like Skipify to create frictionless checkout experiences while protecting their customer relationships. Just months ago, Apple Pay passed Mastercard in annual payments volume and is on course to overtake Visa. Skipify is building a future where shoppers, merchants, and financial institutions have a digital wallet that creates value for all.
"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!"
Skipify is a technology company based in San Mateo, California. Their mission is to eliminate friction in the shopper's journey and help merchants and shoppers build even stronger relationships. Skipify's Modern Checkout Stack is used by merchants to enable instant purchasing inside their websites, stores and marketing channels. Skipify is backed by some of the world's best - including Amex Ventures, PayPal Ventures, Synchrony, Okta Ventures, Point72 Ventures, Flourish Ventures, Infinity Ventures and MSD Partners. Through its checkout and digital wallet product offerings, the company is building a network across brands and financial partners that helps the ecosystem win.
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. 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.
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.
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