Cignifi Completes Series A Funding
Summary
Cignifi, a Cambridge, MA-based developer of an analytic platform that deliver credit and marketing scores for consumers using mobile phone behavior data, has completed a Series A funding round.The round was led by Omidyar Network, with participation from existing investors.Led by Jonathan Hakim, President and CEO, Cignifi has developed a platform that enables banks, insurers and retailers to qualify and contact millions of underserved consumers who lack traditional credit histories.The company’s solution employs behavioral data of mobile phone users to assess credit risk with four weeks’ calling history required to perform analysis.Cignifi, which is working with mobile operators and financial partners in Brazil and other emerging countries, also has offices in Sao Paulo, Mexico City and Oxford, UK.