The selection of the Embedded Fintech 50 list by fintech investors illustrates Papaya’s successful transformation from an HR platform to a fintech platform.
TEL AVIV, Israel
,
February 1, 2023
world papaya
the SaaS fintech company providing global payroll and payments technology, has been named to Embedded Fintech 50, a list launched by GGV Capital in partnership with Crunchbase, to recognize the most promising fintech companies in the eyes of startup investors.
GGV Capital brought together 57 investment companies to nominate and vote on the 50 winners. Having raised more than
$12 billion
collectively, the Embedded Fintech 50 demonstrates the enthusiasm of venture capitalists for the growth and innovation of this sector. To celebrate, the winners will ring the closing bell at the Nasdaq MarketSite today.
“This significant recognition from fintech industry investors reinforces our goal of educating businesses on the benefits of a fintech approach to global payroll and payments,” said
Eynat Guez
, co-founder and CEO of Papaya. “Global payroll and payments are complex and therefore must be automated, visible at all times, fast and accurate. With our industry-leading 72-hour payment delivery capabilities, we are showing the power of fintech embedded in payroll What we do enables our client companies to effectively and efficiently manage their global workforce.”
Despite a volatile market, 2022 has been a year of strategic growth at Papaya. The company has expanded its capabilities through acquisitions, built a world-class payment network and strengthened its strategic partnerships. Papaya acquired online money transfer service, Azimo, and acquired international money transfer licenses to become the first global payroll platform with natively integrated payroll payments. It has partnered with JPMorgan to establish the fastest payroll payments on the market. Papaya has also integrated with Workday and Netsuite, leaders in HCM and ERP, to provide an end-to-end integrated payroll and payment solution. These breakthrough moves have led to recognition in the Embedded Fintech 50 and affirmation by fintech startup investors.
“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 at GGV Capital. “We are excited about the continued development of the embedded fintech landscape and more creative innovations to come. Congratulations to the Embedded Fintech 50 winners!”
About Papaya Global
Papaya Global is a SaaS fintech that provides global payroll and payments technology – the only state-of-the-art payroll software built for global businesses. Papaya’s comprehensive automated solution provides the visibility, speed, and flexibility finance teams need to control labor spend. Papaya serves as the brains connecting the dots of global payroll, unifying data streams and integrating with HCM and ERP tools to create a single source of truth. It transforms the payroll – the biggest expense and liability of any company – into a strategic asset.
The Papaya team is currently expanding
Tel Aviv
,
New York
,
Austin
,
London
,
Kyiv
,
Singapore
and
melbourne
. Its technology has been recognized by all major global analysts, including Gartner, Visa, NelsonHall and others, as disruptive to people, payroll and payments globally. Papaya was included in CNBC’s Forbes Cloud 100 and Best Startups for Business.
About 50 Integrated Fintech
Embedded Fintech 50 includes the most promising embedded fintech startups, as named and voted on by investment firms. GGV Capital launched the list in partnership with Crunchbase and brought together 57 investment firms to develop the inaugural list. This year, 175 companies were nominated and 50 were selected following a voting process requiring the nomination of portfolio and non-portfolio companies. Nomination criteria included companies whose products were primarily focused on fintech, the United States as the primary market, and Series A stage. Embedded fintech is defined as financial services platforms or service providers financial services that integrate into commercial or financial services platforms. For more information on participating investors and the listing methodology, visit:
https://www.embeddedfintech50.com
.
About GGV Capital
GGV Capital is a global venture capital firm that partners with founders to build class-leading companies around the world. Focused on multi-stage and sector-based investments, GGV manages
$9.2 billion
in investments across the United States,
China
,
South East Asia
,
Israel
,
Latin America
and
India
. Founded in 2000 with roots in
Singapore
and Silicon Valley, GGV has backed over 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, etc. More information can be found at
www.ggvc.com
and @ggvcapital.
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SOURCE World Papaya
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