Blogs - Banyan Welcomes Alpesh Chokshi as President

The Fintech Innovation 50 is an annual list highlighting the most innovative emerging and established fintech companies. GGV Capital U.S. partnered with 44 investment firms to nominate 150 companies (from the more than 13,000 fintech startups in the U.S., per Statista). They then selected 50 honorees, including 25 early-stage, 15 mid-stage, and 10 late-stage companies. Having raised more than $12 billion collectively, the Fintech Innovation 50 demonstrates the enthusiasm of venture capital investors for the growth and innovation of this sector.

Some key themes for this years list are solutions and companies that:

Leverage both traditional machine learning and generative AI to enhance financial workflows, credit underwriting as well as fraud detection
Offer high-interest banking accounts to businesses in a high-interest environment, enabling companies to put idle cash to work
Provide fintechs with greater access to data, faster launches for financial products, and more automation to their operations
Automation to financial workflows including payments, budgeting and accounting to empower CFOs to serve more strategic functions to their organizations
That offer credit with faster underwriting and lower cost of capital to both small businesses and undeserved consumers

This recognition reflects the hard work and progress Banyan has made in growing its platform, and the innovation power of a single Banyan platform connection to enable many SKU data solutions across merchants, banks, and fintech partners.

We’re incredibly excited to continue our growth journey, and for the range of business innovation opportunities SKU-level receipt data will create for companies operating in the payments marketplace. Thank you GGV Capital US for the recognition, and congrats to all of the other honorees!