Leading mobile payments provider recognized for achievements in enabling global mobile wallet and APM payments at scale

NEW YORK–(BUSINESS WIRE)–CB Insights named Citcon Inc, the leading provider of mobile payments enabling global commerce at scale, to its fifth-annual Fintech 250 ranking, showcasing the 250 most promising private fintech companies of 2022.

“This year’s Fintech 250 winners are shaping the future of financial services, from payments and banking to investing and insurance,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “Representing more than 30 countries, these companies are creating safer and more efficient payment methods, and transforming how traditional banking, insurance and investing products are delivered. Together, they not only make financial services more convenient for users, but also make them available to more people, especially traditionally underserved populations around the globe.”

Utilizing the CB Insights platform, the research team selected these 250 winners from a pool of over 12,500 private companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed over 2,000 of Analyst Briefings submitted by applicants.

Citcon has marked significant milestones in the past 12 months, from closing a $30 million Series C funding round led by Norwest Ventures and Coda Capital, to rapidly expanding its in market presence and leadership in Europe and throughout the Asia Pacific region. Citcon enables merchants to safely and securely accept and reconcile customer payments from more than 150 local and global payment schemes through one integration. Product integrations with Bold Commerce headless checkout experience and Solana Labs to develop Solana Pay, a new set of decentralized payments standards and protocols for digital dollar currency, are examples of Citcon’s relentless pursuit of growth and leadership opportunities.

“CB Insights has taken a truly global perspective for this year’s Fintech 250 by recognizing the massive potential of cross-border commerce to drive rapid and sustained growth,” said Chuck Huang, Founder and CEO of Citcon. “Enabling mobile wallet and APM payments around the world is now a mission critical business function for every industry, and Citcon is well positioned to be the payments platform of choice to scale global commerce.”

Quick facts on the 2022 Fintech 250:

  • Equity funding and deals: The Fintech 250 cohort has raised over $115B in equity funding across over 1,100 deals since the start of 2017 (as of 9/20/2022). In 2021 alone, winners raised over $51B across 337 equity deals.
  • Unicorns: There are 159 companies with $1B+ valuations on the list.
  • Global Reach: Globalization is a key theme for this year’s Fintech 250. The winners represent 33 different countries across the globe – 7 more than last year. Just over half (53%) of the selected companies are headquartered in the US, which is the fewest we’ve seen in the Fintech 250 since 2017. The UK came in second with 31 winners (12%), followed by India with 14 (6%), Brazil with 9 (4%), and Germany with 7 (3%).

“Being named to the CB Insights Fintech 250 is a testament to the talent and dedication of our growing global team,” said Wei Jiang, President and COO of Citcon. “We are moving at speed to expand our market presence, grow our global network of partners, and extend our solution to encompass more payment schemes, wallets, and currencies to serve global merchants and the worldwide customers they value.”

About CB Insights

CB Insights builds software that enables the world’s best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.

About Citcon

Founded in 2015, Citcon’s fintech platform enables seamless global commerce at scale by connecting the world’s businesses with more than 150+ mobile wallets, including local and alternative payment methods. Citcon integrates with POS and ecommerce systems such as Toshiba, Oracle, Cegid, Shopify and SAP and is currently deployed at more than 30,000 merchant sites and locations, including major brands such as L’Oreal, Tumi, Texas Instruments, Revolve, Macy’s, and Panda Express. In October 2021, Citcon closed a $30MM Series C funding round. The company is backed by leading global investors Norwest Venture Partners, Cota Capital, Sierra Ventures, Sonae, and East-West Bank. Citcon has five regional offices in the US, Canada, Europe, and Asia to service its global clientele. Learn more at https://www.citcon.com.

Contacts

CB Insights: chris.orlando@cbinsights.com
Citcon: tony@thinkinsideout.com