• FOUNDING YEAR: 2010
    LOCATION:
    United States
    REGION:
    Massachusetts
    Last Update:
    9 Sep, 2019
    Global presence:
    Singapore

Description

FOCUS

PRODUCTS & SERVICES:
Cignifi offers a credit score for unbanked customers using mobile data. The risk score modeling platform Maxymus evaluates the creditworthiness of individuals who have no credit history. The platform is integrated with banks and telecom providers to extract data and generate customers' risk scores.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Banks, lending institutions, utilities companies & credit card issuers.
EXISTING PARTNERSHIPS:
In March 2016, the company partnered with Equifax to enable credit scoring services to the unbanked population in Latin America. Other partners: Airtel, Globe, Telefonica, and IFC.
PRIMARY PROBLEM SOLVED:
Provides financial services to people with low-credit scores and the unbanked population in developing countries by using customers' mobile data.

PEOPLE

FOUNDERS:
Jonathan Hakim
Board Members and Advisors:
Jonathan Hakim, Arjuna Costa, Larry Rosenberger, Stewart Langdon
NUMBER OF EMPLOYEES:
11-50
INVESTORS:
American Express Ventures, Omidyar Network, Rohit Bodas, Thomas Varghese, Alex Goldberg, John Carlson, Carolina Dams
KEY EMPLOYEES:
Jonathan Hakim

TRACTION

VALUATION / MARKET CAP:
$32.35 MM in 2015
COMMENT:
The company has reported that it has created 100M consumers' credit profiles in 13 emerging markets. (June 2017)

MOMENTUM

FUNDED:
YES
DATE OF LAST FUNDING:
Sep 2014

LATEST RESEARCH