DemystData, a software provider that harnesses Big Data and predictive analytics to deliver information to financial services clients, has closed USD$5 million in Series A funding from Notion Capital, SingTel Innov8, Arbor Ventures, P2P Equity Partners, and Wonga Founder Errol Damelin. Existing investors in DemystData were Accion Venture Lab and Arbor Ventures. The funding will be used to grow the team and continue global expansion.
Financial institutions around the world struggle to access consumer and small business data, but data is increasingly available. DemystData software allows clients to bring together large volumes of online, social, telecommunications, and internal company data, in real-time, to create accurate and easy to use customer profiles. This allows DemystData clients to make better decisions. DemystData technology has now processed more than 30 million profiles for its financial clients globally.