Pngme, a San Francisco, CA-based financial data infrastructure and machine learning-as-a-service platform, raised a further $15m in Series A funding.
The round was led by Octopus Ventures with participation from Lateral Capital, Unshackled Ventures, Raptor Group, EchoVC, Future Africa, Two Small Fish Ventures, and a group of individual angel investors including RallyCap’s Hayden Simmons, Plaid’s Dan Khan, former COO of RBC Capital Markets Richard Talbot, and Intersect VC’s Kyle Ellicott among others.
The company intends to use the funds to expand its executive team with the hiring of Lorraine Kageni Maina as Chief Strategy Officer and Nick Masson as Chief Technology Officer.
Led by Brendan Playford, CEO, and Cate Rung, COO, Pngme builds mission critical data infrastructure and out-of-the box machine learning capabilities for financial institutions and fintechs across sub-Saharan Africa. The platform consists of three core products – a mobile SDK, Customer Management Platform, and API – that drive the adoption and use of personalized user experiences and financial products. These allows financial institutions and fintechs to collect and aggregate financial data at scale. Its mobile SDK and data processing pipelines make it easy to collect alternative financial data and unify it with other data sources to create a holistic picture of an individual’s financial behavior. Partners can then integrate the Pngme platform with existing financial APIs such as Plaid, Okra, and Mono.
The Customer Management Platform makes data actionable to any stakeholder in a financial institution including, data science, marketing, risk, and executive management.
Pngme’s partners include a global credit bureau, Kuda Bank Renmoney, Credpal, Simplefi and other Tier 1 African Banks who use the Pngme platform and their data science services to offer data and machine learning-driven products and user experiences to their customers.
FinSMEs
17/08/2021