Citcon named to 2022 CB Insights’ Fintech 250 list
Leading mobile payments provider recognized for achievements in enabling global mobile wallet and APM payments at scale
NEW YORK, October 11, 2022–(BUSINESS WIRE)–CB Insights named Citcon Inc, the leading provider of mobile payments enabling global commerce at scale, to its fifth annual Fintech 250 ranking, which showcases the 250 most promising private fintech companies in 2022.
“This year’s Fintech 250 winners are shaping the future of financial services, from payments and banking to investments and insurance,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “Representing more than 30 countries, these companies are creating safer and more efficient ways to pay, transforming how traditional banking, insurance and investment products are delivered. Together, they not only make financial services more convenient for users, but also make them accessible to more people, especially traditionally underserved populations around the world.”
Using the CB Insights platform, the research team selected these 250 winners from a pool of over 12,500 private companies, including applicants and nominees. They were selected based on factors including R&D activity, proprietary Mosaic results, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength and technology novelty. The research team also reviewed over 2,000 analyst briefings submitted by applicants.
Citcon has marked significant milestones in the past 12 months, from closing a $30 million Series C funding round led by Norwest Ventures and Coda Capital, to rapidly expanding its market presence and leadership in Europe and throughout the Asia-Pacific region. Citcon enables merchants to safely and securely accept and reconcile customer payments from more than 150 local and global payment systems through one integration. Product integrations with Bold Commerce’s headless payment experience and Solana Labs to develop Solana Pay, a new set of decentralized payment standards and protocols for digital dollar currency, are examples of Citcon’s relentless pursuit of growth and leadership opportunities.
“CB Insights has taken a truly global perspective for this year’s Fintech 250 by recognizing the enormous potential of cross-border commerce to drive rapid and sustained growth,” said Chuck Huang, Founder and CEO of Citcon. “Enabling mobile wallet and APM payments worldwide is now a business-critical function for all industries, and Citcon is well positioned to be the payments platform to scale global commerce.”
Fast facts about the 2022 Fintech 250:
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Equity financing and agreements: The Fintech 250 cohort has raised over $115B in equity funding in over 1,100 deals since the start of 2017 (as of 9/20/2022). In 2021 alone, winners collected over $51 billion in 337 stock deals.
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Unicorns: There are 159 companies with $1B+ valuations on the list.
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Global reach: Globalization is a central theme for this year’s Fintech 250. The winners represent 33 different countries across the globe – 7 more than last year. Just over half (53%) of the selected companies are headquartered in the US, which is the fewest we’ve seen in the Fintech 250 since 2017. The UK came second with 31 winners (12%), followed by India with 14 (6%) , Brazil with 9 (4%) and Germany with 7 (3%).
“Being named to the CB Insights Fintech 250 is a testament to the talent and dedication of our growing global team,” said Wei Jiang, president and COO of Citcon. “We are moving at speed to expand our market presence, expand our global network of partners and expand our solution to include more payment systems, wallets and currencies to serve global merchants and the worldwide customers they value.”
About CB Insights
CB Insights builds software that enables the world’s best companies to discover, understand and make technology decisions with confidence. By combining data, expert insights and work management tools, clients manage their end-to-end technology decision-making process at CB Insights. To learn more, visit www.cbinsights.com.
About Citcon
Founded in 2015, Citcon’s fintech platform enables seamless global commerce at scale by connecting the world’s businesses with more than 150+ mobile wallets, including local and alternative payment methods. Citcon integrates with POS and e-commerce systems such as Toshiba, Oracle, Cegid, Shopify and SAP and is currently deployed in more than 30,000 points of purchase and locations, including major brands such as L’Oreal, Tumi, Texas Instruments, Revolve, Macy’s and Panda Express. In October 2021, Citcon closed a $30 MM Series C funding round. The company is backed by leading global investors Norwest Venture Partners, Cota Capital, Sierra Ventures, Sonae and East-West Bank. Citcon has five regional offices in the US, Canada, Europe and Asia to serve its global clientele. Learn more at https://www.citcon.com.
See the source version at businesswire.com: https://www.businesswire.com/news/home/20221011006084/en/
Contacts
CB Insights: [email protected]
Citcon: [email protected]
