This archive report was first published on 20 August 2021.
Published on August 20, 2021, Pngme, a US-based fintech focused on Africa, has secured $15 million in Series A funding to power the future of financial services in the continent.
The funding round, led by Octopus Ventures, will enable Pngme to expand its executive team, data science, engineering, and sales teams globally to meet the demand for integrations across large enterprise banks, credit bureaus, MFBs, fintechs, and neo banks.
Founded by Brendan Playford and Cate Rung, Pngme has partnered with large financial institutions, including Kuda Bank, Renmoney, Credpal, Simplefi, and Tier 1 African Banks, to offer data and machine learning-driven products and user experiences to their customers.
“We are witnessing an explosion of digital financial services for African consumers, and the need for clean, actionable data to drive this is more acute than ever,” said Tosin Agbabiaka, fintech investor at Octopus Ventures.
Pngme's infrastructure has processed billions of data points from hundreds of financial institutions across sub-Saharan Africa, and the company plans to double down on its Insights Library and expand its third-party data connections to other markets over the next year.
