Skipify named to Embedded Fintech 50
Company recognized for continued success with their Modern Checkout Platform
SAN FRANCISCO, 1 February 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 securities firms to nominate and vote for the 50 honorees. After raising more than 12 billion dollars collectively, the Embedded Fintech 50 demonstrates the enthusiasm of venture capital investors in the growth and innovation of this sector. To celebrate, the honorees will ring the closing bell on the Nasdaq MarketSite today.
“We’ve made it easy for sellers to solve a universal problem at checkout: people love the products they buy, but they don’t like the process of buying them. That’s why Skipify exists. 85% of buyers prefer to buy with Skipify over traditional and alternative payment options,” said Skipify’s CEO and founder, Ryth Martin.
Thousands of merchants offer Skipify in their digital and in-store channels, supporting millions of payments a month. Skipify’s payment experience requires almost zero effort for customers 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 purchases and access to a new payment ecosystem with a rapidly growing network of customers.
Increasingly, merchants and financial institutions are looking to technology providers like Skipify to create frictionless payment experiences while protecting the customer relationship. Just months ago, Apple Pay passed Mastercard in annual payment volume and is on track to overtake Visa. Skipify is building a future where buyers, sellers and financial institutions have a digital wallet that creates value for everyone.
“Embedded fintech is a bright spot in today’s market and it’s exciting to see how companies are democratizing access to financial services through technology,” said Hans Tung, managing partner of GGV Capital. “We are excited for the continued evolution of the embedded fintech landscape and further creative innovations to come. Congratulations on the Embedded Fintech 50 honors!”
About Skipify
Skipify is a technology company based in San Mateo, California. Their mission is to eliminate friction in the shopper’s journey and help sellers and shoppers build even stronger relationships. Skipify’s Modern Checkout Stack is used by merchants to enable instant purchases on 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 cash register and digital wallet products, the company is building a network across brands and financial partners that help the ecosystem win.
About Embedded Fintech 50
The Embedded Fintech 50 includes the most promising embedded fintech startups nominated and voted on by investment firms. GGV Capital launched the list in partnership with Crunchbase and convened 57 investment firms to develop the first 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, the US as a primary market and the Series A stage. Embedded fintech is defined as financial service platforms or financial service providers that are integrated into commercial or financial service platforms. For more information on participating investors and listing methodology, visit: https://www.embeddedfintech50.com.
About GGV Capital
GGV Capital is a global venture capital firm that partners with entrepreneurs to build category-leading companies worldwide. Focused on multi-stage, sector-focused investments, GGV manages 9.2 billion dollars in investments across the United States, China, Southeast Asia, Israel, Latin Americaand 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.
SOURCE Skipify
