MINES.IO

Mines.io makes state-of-the-art machine learning, graph, and optimization algorithms to build financial models for credit scoring and fraud detection. This system is integrated into banking platforms, payment APIs, and telecommunication infrastructure to provide a seamless experience for all stakeholders.

CompanyMteka
VerticalsFinance
Website www.mines.io

Project Title

Mteka is the world’s most advanced financial analytics platform for mobile data, built at the big data analytics lab in Stanford, California.  Their analytics services help mobile phone operators and banks monetize their data by providing lending services, credit cards, credit scoring, etc.   Custom built for the unique challenges in emerging markets, they have engaged two of the big telcos in Nigeria and in Rwanda.

Their credit scoring service, the first in Nigeria, uses sophisticated algorithms to analyse mobile carrier data and assess credit risk for individual consumers based on mobile behaviour. Mobile operators are launching micro-loan services using this platform. Financial institutions can use our service to cost-effectively predict default risk, allowing them to widen their loan portfolios with lower interest rates. Credit bureaus can also use our service to enhance their assessments, providing a more accurate representation of credit risk for thin-file consumers.

Age: 2-years (Since 2014)
Stage: Series A (Growth Stage) 

Status: fully-committed

Lead Investor: First Ally Capital Limited

Management:

Ekechi Nwokah (CEO; ex NASA, Amazon, Ph.D Purdue)

Kunle Olukotun (Chief Scientist; Prof. Stanford, exited Afara Web Systems to Oracle)

Arvind Sujeeth (CTO; Ph.D Stanford)