First Access

lendingcredit scoringbig dataanalytics and machine learning

FOUNDING YEAR: 2011
LOCATION: United States
Last Update: 01/05/2020

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About

First Access provides a credit scoring solution for microfinance institutions and other emerging market lenders using data from consumers’ prepaid mobile phone history to assess applicant creditworthiness.

Focus

PRODUCTS & SERVICES

Instant risk-scoring tool for financial institutions serving low-income customers by using analytic, algorithms

REVENUE MODEL

The company levy charge of $1.25 per transactions from lenders, to cover cost of data that is bought from carriers.

MAIN CLIENTS

Retail commercial banks

Microfinance institutions

Business payment platforms

Insurance companies

EXISTING PARTNERSHIPS

Vodacom Tanzania

COMMENT

The platform enables lenders to “go digital” with easy credit appraisal tools, it also offers sophisticated data analytics on credit risk, staff performance, and operations over time. It allows financial institutions to adopt Data Best Practices.

Traction

VALUATION COMMENT:

The company has covered 50 billion transactions and data points till now(Nov 2017).

TRACTION COMMENT:

First Access platform is now live for select financial institutions. This will be extended to other regions early next year(Nov 2017).

People

FOUNDERS

Nicole Van Der Tuin

Duncan Goldie-Scot

BOARD MEMBERS AND ADVISORS

Nicole Van Der Tuin

Duncan Goldie-Scot

Jenny Everett

Liz Luckett

Duncan Onyango

Kira Dubas

Kate Griffin

Rhett Morris

Geoffrey Ndosi

Paul Thurman

John Walker

Christian Ruehmer

NUMBER OF EMPLOYEES

11-50

INVESTORS:

500 Startups

Accion Venture

Acumen

and Newid Capital.

Bamboo Capital Partners

Colle Capital

Golden Seeds

Impact Engine

Riese

The Social Entrepreneurs Fund

KEY EMPLOYEES:

Nicole Van Der Tuin(CEO)

Momentum

FUNDED

YES

TOTAL FUNDING

$14 M

DATE OF LAST FUNDING

2017

TOTAL FUNDING COMMENT

The company is planning to use the fund for further development of the platform, as well as the strengthening and growth of the product, sales, and client success teams.

SEED & PRIOR FUNDING

$7 M

SEED CLOSED ON

Nov 2017

SEED PRIOR FUNDING COMMENT

An undisclosed amount raised in Jan 2015.

FUNDING SERIES

SERIES A  · $7 M  · Nov 2017

LISTED

NO

COMMENT

Debt financing: $1.5 M(Jan 2015)

BASICS

FOUNDING YEAR:

2011

LOCATION:

United States

Views:

145 VISITORS | 241 VIEWS
LATEST FUNDING ROUND

$14 M

TOTAL EMPLOYEES
11-50

About

First Access provides a credit scoring solution for microfinance institutions and other emerging market lenders using data from consumers’ prepaid mobile phone history to assess applicant creditworthiness.

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