Pngme, a San Francisco-based firm that builds data infrastructure and out-of-the box machine learning capabilities for financial institutions and fintechs across sub-Saharan Africa, has raised $15 million in a Series A funding round led by Octopus Ventures.
Pngme says that it helps financial institutions and fintechs 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 sources to create a holistic picture of an individual's financial behaviour. Partners can then integrate the Pngme platform with existing APIs such as Plaid, Okra, and Mono.
The company has also built a customer management platform so that the various teams within a company can effectively make use the data.
Pngme will use the funding to expand its data science, engineering, and sales teams, building on recent executive hires.
Brendan Playford, CEO, Pngme, says: "With the demand we are seeing in our core markets and from financial institutions globally, it is clear we are solving a major pain point by building financial data infrastructure and machine learning as a service."