Subsaharan Africa’s 15M Series Octopus is on its way to making waves in the global car parts market. This company has a vision to provide car parts that are tailored to fit the vehicles of its clients Chinabased. They also seek to expand their business globally. Their goal is to become a major player in the car parts industry, and they need investors to help them achieve their goals.
Pngme
Pngme is a San Francisco-based fintech startup that aims to create a data infrastructure for financial institutions. The firm describes itself as a machine learning-as-a-service platform. It collects and aggregates financial data from traditional banks, credit bureaus, and other financial services providers. The company provides its customers with tools that enable them to create enhanced credit reports, lower default rates, and build a more holistic picture of their finances.
The company’s product portfolio includes a lending platform and a credit and lending API, as well as developer tools. To date, Pngme has built an ecosystem of partners including global credit bureaus, digital financial platforms, and credit card brands.
Pngme has raised $15 million in Series A funding led by Octopus Ventures, Raptor Group, Lateral Capital, and Unshackled Ventures. Individual angel investors also contributed to the round. This round brought the total amount raised by the fintech to $18.5 million.
As part of the round, Pngme is announcing new executive hires and plans to expand its sales and engineering teams. It also plans to increase the number of third-party data connections to other markets. In addition, the company is looking to improve its flagship Insight Library products.
Car parts buyers require specific parts to fit their vehicles
If you are selling auto parts, it is important to provide accurate fitment data. Incorrect data can lead to negative feedback. The fitment data should include the make, model, and year of the vehicle, as well as the trim and engine of the part. This will tell prospective buyers whether the part will fit and satisfy their needs.
Using an integrated solution for your fitment data will allow you to translate the information into a format that can be easily read by the marketplace. It will also save you time.
Providing your customers with accurate fitment data is the single most important asset you can have as an auto part seller. You can use a tool to manage fitment data or you can manually input the information yourself.
eBay and Amazon both have auto parts finders that help shoppers determine if a part will fit their vehicles. Both sites update their lists regularly.
Expanding globally
Octopus Ventures is a private equity firm with offices in San Francisco, Singapore, and New York City. It has a portfolio of companies across a range of sectors, including technology, financial services, and retail. They have recently announced their plans to raise a PS83 million growth fund. The fund will be used to support previously funded companies, but also to invest in new ventures.
In the past year, Africa received more than $1 billion in venture capital, with most of that going to startups in the fintech, e-commerce, and media space. However, African tech companies typically do not extend their reach into the rest of the world. And while there are some examples of companies that are expanding their operations, it’s not as easy as it sounds.
For example, Pngme, a machine learning as a service platform, raised $15 million in Series A funding, and has since enlisted the services of a number of angel investors. Although the company’s data scientists have already processed billions of data points from a variety of financial institutions, they are looking to expand their offerings to other markets.
Investors
The Series A round of Pngme has closed with a $15 million investment led by Octopus Ventures. The company, which targets banks and financial institutions, has developed a mobile SDK that lets users collect financial data at scale, creating a holistic picture of their behavior. To do this, the company’s infrastructure has processed billions of data points from financial institutions.
As a result of this funding, Pngme has expanded its team and is working to expand its product offerings. It also plans to expand third-party data connections to other markets, and is adding a new product called Insights Library. This new tool provides users with access to financial data from all over the world.
Pngme’s investors include a group of fintech companies, a group of credit bureaus, and two women-focused investment firms. Raptor Group and Two Small Fish Ventures, both of which are involved in investments in the financial sector, were also involved in this round. These groups join existing investors such as Aruwa Capital Management, Lateral Capital, and Future Africa.
