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We’re excited to share that Lithic was named to the 2024 Fintech Innovation 50! This is an annual list launched by GGV Capital U.S. in partnership with Crunchbase, to recognize the most promising fintech companies in the eyes of startup investors.
GGV Capital U.S. partnered with 44 investment firms to nominate and vote on 150 companies in order to select the 50 honorees. Having raised more than $12 billion collectively, the Fintech Innovation 50 demonstrates the enthusiasm of venture capital investors in the growth and innovation of this sector. In celebration, honorees will ring the Opening Bell at the Nasdaq MarketSite today.
At Lithic, we build card issuing infrastructure for developers and handle billions of dollars in transaction volume. Leading companies use our APIs to move money, build card programs, and issue debit, credit, and prepaid cards to consumers and businesses. In 2023, we surpassed $1 billion in annual charge card volume and helped customers generate over $20 million in annual interchange revenue.
“We believe the long-term tides are in fintech's favor. Market shares are increasingly captured by disruptors and value-added enablers,” said Hans Tung, Managing Partner, GGV Capital U.S. “Congratulations to the Fintech Innovation 50 honorees!"
About Fintech Innovation 50
The Fintech Innovation 50 includes the most promising fintech startups as nominated and voted on by 44 investment firms, in partnership with Crunchbase. This year, 150 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 U.S. as a primary market, and Series A stage financing. For more information about participating investors and list methodology, visit www.fintechinnovation50.com.
About GGV Capital U.S.
GGV Capital U.S. is an American venture capital firm focused on early-to-growth investments in technology companies across North America, Israel, Europe, Latin America, and India. We are dedicated to fostering innovation and supporting the next generation of leaders in the tech industry, including Affirm, Airbnb, Bowery Farming, Drata, Handshake, HashiCorp, Ibotta, Quince, Slack, Slice, Square, StockX, Vercel, Zendesk, and more.
GGV Capital U.S. is a longtime investor in the global fintech sector, with more than 10 investments, including ADDI, Affirm (AFRM), Aven, Block (SQ), Clara, Divvy Homes, Frubana, IDwall, Northstar, Novo,and Stori.