Financial data infrastructure and machine learning-as-a-service platform Pngme has raised $15 million in Series A funding, the company said in a Tuesday (Aug. 24) announcement.
The Africa-focused, U.S.-based firm plans to use the funds to expand its global executive team with the hiring of Lorraine Kageni Maina as chief strategy officer and Nick Masson as chief technology officer. The FinTech company will also add new members to its data science, engineering, product and sales teams around the world.
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The financing round was led by London-based venture capital firm Octopus Ventures and drew participation from Lateral Capital, Unshackled Ventures, Raptor Group, EchoVC, Future Africa and Two Small Fish Ventures. A group of individual angel investors also backed the round, including Rally Cap Venture’s Hayden Simmons, Plaid’s Dan Khan and Intersect VC’s Kyle Ellicott.
“With this fresh injection of capital, we are not only scaling up our data processing and machine learning capabilities, but also building a robust team that can deliver on our mission of financial inclusion,” Pngme CEO Brendan Playford said in the statement.
Pngme COO Cate Rung further added that the company’s “infrastructure has processed billions of data points from hundreds of financial institutions across sub-Saharan Africa, and we plan to double down on our Insights Library and expand our third-party data connections to other markets over the next year.”
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Pngme’s new round comes six months after the San Francisco-based company raised $3 million in seed funding to expand its business across Sub-Saharan Africa. The company, which launched in 2018, started out as a lending platform before shifting to a data infrastructure platform helping banks and FIs aggregate users’ financial data through one unified API.
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NEW PYMNTS DATA: 58 PERCENT OF MULTINATIONAL FIRMS ARE USING CRYPTOCURRENCY
About: In spite of their price volatility and regulatory uncertainty, new PYMNTS research shows that 58 percent of multinational firms are already using at least one form of cryptocurrency — especially when moving funds across borders. The new Cryptocurrency, Blockchain and Global Business survey, a PYMNTS and Circle collaboration, polls 500 executives looks at the potential and the pitfalls facing crypto as it moves into the financial mainstream.
Monetary information infrastructure and machine learning-as-a-service platform Pngme has raised $15 million in Sequence A funding, the corporate stated in a Tuesday (Aug. 24) announcement.
The Africa-focused, U.S.-based agency plans to make use of the funds to develop its world government crew with the hiring of Lorraine Kageni Maina as chief technique officer and Nick Masson as chief know-how officer. The FinTech firm may even add new members to its information science, engineering, product and gross sales groups world wide.
You may additionally like: Nigeria’s Kuda Financial institution Raises $55M At $500M Valuation
The financing spherical was led by London-based enterprise capital agency Octopus Ventures and drew participation from Lateral Capital, Unshackled Ventures, Raptor Group, EchoVC, Future Africa and Two Small Fish Ventures. A bunch of particular person angel buyers additionally backed the spherical, together with Rally Cap Enterprise’s Hayden Simmons, Plaid’s Dan Khan and Intersect VC’s Kyle Ellicott.
“With this contemporary injection of capital, we’re not solely scaling up our information processing and machine studying capabilities, but additionally constructing a strong crew that may ship on our mission of economic inclusion,” Pngme CEO Brendan Playford stated within the assertion.
Pngme COO Cate Rung additional added that the corporate’s “infrastructure has processed billions of information factors from lots of of economic establishments throughout sub-Saharan Africa, and we plan to double down on our Insights Library and develop our third-party information connections to different markets over the following yr.”
Additionally see: WorldRemit Hits $5B Valuation, Rebrands As Zepz
Pngme’s new spherical comes six months after the San Francisco-based firm raised $3 million in seed funding to develop its enterprise throughout Sub-Saharan Africa. The corporate, which launched in 2018, began out as a lending platform earlier than shifting to an information infrastructure platform serving to banks and FIs combination customers’ monetary information by means of one unified API.
——————————
NEW PYMNTS DATA: 58 PERCENT OF MULTINATIONAL FIRMS ARE USING CRYPTOCURRENCY
About: Regardless of their value volatility and regulatory uncertainty, new PYMNTS analysis exhibits that 58 p.c of multinational companies are already utilizing at the least one type of cryptocurrency — particularly when shifting funds throughout borders. The brand new Cryptocurrency, Blockchain and International Enterprise survey, a PYMNTS and Circle collaboration, polls 500 executives seems to be on the potential and the pitfalls dealing with crypto because it strikes into the monetary mainstream.
