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DemystData Brings in $5 Million for its Big Data API for Financial Institutions

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For DemystData, big data is more than just a buzz word. The New York-based company focuses on improving financial institutions’ access to information to optimize interaction with customers.

The company announced today it raised $5 million in a Series A investment. Investors include:

    • Notion Capital
    • SingTel Innov8
    • Arbor Ventures
    • P2P Equity Partners
    • Errol Damelin (UK-based Wonga founder)

DemystData previously received two investments of undisclosed amounts.

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The company’s software aggregates data from multiple sources in real time to build customer profiles. Institutions use these profiles to make better decisions. DemystData is processing more than 30 million profiles for financial clients, which include some of the largest, global P2P lenders in the U.S. and U.K., as well as leading banks in AsiaPacific.

Using this new investment, DemystData plans to continue its global growth while expanding its team. Additionally, it hopes to further enhance its API.

To learn more about DemystData, check out its FinovateAsia 2012 demo video, where it debuted Credit-in-a-Box. Interested in this and other back-end systems for FIs? Pick up your ticket to FinDEVr to check out more.