Juvo, a San Francisco, CA-based mobile Identity Scoring platform, raised $40m in Series B funding.
The round was led by New Enterprise Associates (NEA) and Wing Venture Capital with participation from SignalFire and existing investors including the former CEOs of AT&T Wireless, NYSE, Sprint, Telefonica International and Vodafone Group. In conjunction with the funding, Peter Wagner, founding partner of Wing, joined Juvo’s board of directors.
The company will leverage the new funds to drive global growth and scale, with a particular emphasis on Asia, Latin America and Europe, and broaden its suite of financial service offerings targeting the financially excluded.
Led by Steve Polsky, CEO, Juvo, Juvo partners with mobile operators and financial institutions around the world and uses data science-based credit algorithms to identify previously anonymous prepaid subscribers, enabling them to build financial identities and gain access to basic financial services.
Come out of stealth mode 10 months ago, Juvo currently partners with seven mobile operators around the world, with a reach of over 500 million subscribers across 25 countries and four continents.
The company also has offices in Miami, London, Buenos Aires, Manila, and Jakarta.