We are thrilled to announce that Array has been named to the prestigious Fintech Innovation 50 list for 2024. This distinguished recognition was unveiled earlier today by GGV Capital U.S., in collaboration with Crunchbase, marking the inaugural edition of this annual accolade.
The companies were selected by GGV and 43 other investment firms including Benchmark, Bessemer Venture Partners, Coatue, Founders Fund, General Catalyst, ICONIQ Growth, Lightspeed, PayPal Ventures, QED Investors, Ribbit Capital, Sequoia Capital, and Wellington. Through a meticulous evaluation of various criteria, the list of 150 companies was pared down to the final 50.
In a press release, GGV shed light on the creation of the Fintech Innovation 50 list: “The financial services industry has $12 trillion of market cap, with less than 5% of this market cap held by fintechs compared to traditional financial services companies. In addition, fintech companies are growing three times faster than traditional financial services, underscoring significant potential to continue capturing value from incumbents and the opportunity to create new financial products over the next decade as AI plays an important long-term role. Combined, these factors point to a new era of value creation within the financial services ecosystem.”
As part of the Fintech Innovation 50 celebration, our CEO Martin Toha joined the founders of the other Fintech Innovation 50 companies at a ceremony to ring the opening bell at the Nasdaq exchange this morning (see pictures).
Array is honored to be sharing the spotlight with other leading privately held fintech companies including Alloy, Brex, Deel, Modern Treasury, Plaid, Stripe, and Vestwell, that have significant revenue, market share and product/market fit.
As we celebrate this achievement, we look forward to continuing our commitment to financial progress and shaping the future of fintech.
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