Subsaharan Africa is on the rise, with more and more startups coming from the region. The venture capitalists Singhtechcrunch, investors, and business people who are funding these companies are transforming the economic landscape. Here are some things you should know about investing in this region.
Investors
It’s no secret that the fintech ecosystem is hot and both the public and private sectors have an appetite for tech. A good example of this is Pngme, a data-driven fintech unicorn with an impressive track record and a slew of industry veterans to boot. The company has received several checks from angel investors spanning the spectrum from the usual suspects to more unusual fare. This most recent round of funding is the fruits of their labours. With a total of $15 million in hand, the feisty aficionados can look forward to an expanded lineup of innovative fintech solutions to help them better manage their financial lives.
Scope of business
Pngme is a machine learning-as-a-service platform. Its core offerings include a credit and lending API and a customer management platform. In addition, the company offers a mobile SDK. Besides these, the San Francisco-based startup also offers a full suite of developer tools and an extensive data ecosystem.
The Pngme platform is designed to help banks in Sub-Saharan Africa collect, store and analyze their financial data. Pngme works with banks, credit bureaus and fintechs alike to create powerful tools to build enhanced credit reports and lower loan defaults. Some of the companies that have signed on to be Pngme partners include Simplefi, Renmoney, Credpal, and Kuda.
Customer management platform
Pngme is a financial data infrastructure startup based in San Francisco, California. It provides a platform for banks and fintech firms to aggregate alternative financial data. A key feature of the company’s product is its mobile SDK, which allows users to easily collect and analyze financial data.
Pngme has three core products. One is its customer management platform, which has been deployed in Ghana and Kenya. The other two are its Insights Library and its data science services. Both have gained traction amongst financial institutions and credit bureaus in the sub-Saharan African market.
Pngme also has partnerships with global credit bureaus. It aims to provide a more holistic view of a user’s financial behavior by unifying structured and user-permissioned data. This is important for driving personalized experiences.
Data science
Pngme is a financial data infrastructure company located in San Francisco, California. They offer machine learning-as-a-service platforms and services to financial institutions and fintech companies in sub-Saharan Africa. In addition, the company offers a mobile SDK that allows users to capture and analyze financial data.
The company says they can create a holistic picture of a customer’s financial behavior. This is important as most African fintech players are aiming to develop personalized products and experiences. For example, Pngme has worked with unnamed tier one banks in Nigeria and South Africa.
Pngme’s core product is a machine learning-as-a-service platform that is designed to unify alternative financial data and create a unified view of the financial world. Its infrastructure processes billions of data points from financial institutions.
Engineering
Pngme is a fintech company in San Francisco, CA. The company has recently landed a whopping $15 million Series A round led by Octopus Ventures. Specifically, the money was put towards building mission-critical data infrastructure. As a result, the company has been able to process billions of data points from financial institutions across the world, which is no small feat. At the same time, the company has repurposed this trove of data into useful insights and customer management tools for a more manageable price point.
Pngme is a good example of a financial technology company that’s trying to make its mark in an underserved niche. Its offerings include a credit and lending API, an intelligent insights library, and a mobile SDK. On top of that, the company is making its presence known in Africa. With this funding, the San Francisco company will be able to expand its operations beyond its home base, while acquiring more customers in the process.
Sales
Pngme is one of the burgeoning fintech companies that will make you squeal at the mention of its name. The brainchild of former RBC Capital Markets COO Richard Talbot and former equities exec Cate Rung, it’s a well oiled machine. Most recently, it raised a $15 million Series A from a who’s who including the big man himself. Its brisk bifocal business model has the potential to become the unicorn of the fintech world. Currently, the company is tasked with building out a suite of data analytics, mobile banking and credit solutions to meet the demands of the continent’s largest financial institutions. This should allow Pngme to get on the front foot as soon as the competition takes shape.
