Socure named to GGV Capital’s first embedded Fintech 50 list
Company recognized for its innovation and market leadership in identity verification and fraud prevention
INCLINE VILLAGE, Nev., February 2, 2023–(BUSINESS WIRE)–Socure, the leading provider of digital identity verification and fraud solutions, today announced that it has been named to the Embedded Fintech 50, a list launched by GGV Capital in partnership with Crunchbase to recognize the most promising the fintech companies in the eyes of start-up investors. GGV Capital convened 57 securities firms to nominate and vote for the 50 honorees. Having raised more than $12 billion, the Embedded Fintech 50 demonstrates the enthusiasm of venture capital investors in the growth and innovation of this sector.
“We are honored to be included in such an elite group of companies and thank GGV Capital for naming us to this list,” said Johnny Ayers, founder and CEO of Socure. “As payments become integrated into all consumer applications, it is more important than ever that identity solutions enable trust in this new era of commerce, as well as the ability to accurately identify digitally native customers quickly. We are delighted to be recognized for our work. in the next era of embedded fintech and that the traction we’ve made in the industry continues to be celebrated.”
Socure is the market leader and most valued company in identity verification. Its graph-defined platform combines advanced machine learning and artificial intelligence with all elements of a consumer’s identity to deliver the most accurate and robust identity verification and proof, Know Your Customer (KYC) and fraud risk prediction solutions on the market.
“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 evolution of the embedded fintech landscape and further creative innovations to come. Congratulations on the Embedded Fintech 50 honors!”
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 and beyond. 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 in investments across the US, China, Southeast Asia, Israel, Latin America and India. Founded in 2000 with roots in Singapore and Silicon Valley, GGV has supported 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.
About Socure
Socure is the leading platform for digital identity verification and trust. Its predictive analytics platform uses artificial intelligence and machine learning techniques with reliable online/offline data intelligence from physical government issued documents as well as email, phone, address, IP, device, speed, date of birth, SSN and the wider internet to verify identities in real time. The company has more than 1,500 customers across financial services, government, gaming, healthcare, telecom and e-commerce, including four of the top five banks, 13 of the top 15 card issuers, the top three MSBs, the top payroll provider, the the best credit bureau, the best online gaming operator, the best Buy Now Pay Later (BNPL) providers, and over 250 of the biggest fintechs. Marquee clients include Chime, SoFi, Robinhood, Gusto, Public, Poshmark, Stash, DraftKings, State of California and Florida’s Homeowner Assistance Fund. Socure clients have become investors in the company, including Citi Ventures, Wells Fargo Strategic Capital, Capital One Ventures, MVB Bank and Synchrony. Additional investors include Accel, T. Rowe Price, Bain Capital Ventures, Tiger Global, Commerce Ventures, Scale Venture Partners, Sorenson, Flint Capital, Two Sigma Ventures and others.
See the source version at businesswire.com: https://www.businesswire.com/news/home/20230202005131/en/
Contacts
Angela Griffo, Socure
Email: [email protected]
Mobile: +1 917-915-8563
Christine Hinton, GGV Capital
Email: [email protected]
Mobile: +1 415.939.0139
