Micronotes, a marketing and big data platform for financial institutions, has closed its Series B funding round.
The deal, which was for an undisclosed amount, was led by FinTech-focused investor TTV Capital, and with support from Vestigo Ventures.
Micronotes is a sales and marketing platform for financial services, powered by machine learning and AI technology. The Massachusetts-based company helps improve customer engagement and cross-selling of financial service by using machine learning to match and validate banking products and services to individual consumers.
With big data technology, the company helps banks to leverage digital banking by ‘interviewing’ customers to help deliver tailored offers on products. Alongside this, the technology is able to analyse and anticipate a consumer’s needs.
These new funds will be used by the company to support the scaling of its platform, including its sales, marketing and engineering efforts.
Micronotes CEO and co-founder Devon Kinkead said, “Micronotes’ vision is to interview the world’s customers, all seven billion, starting with banking customers,” “The team at Vestigo understands our mission and how data and technology can be applied to financial services to create better, stronger and more profitable customer experiences.”
This investment marks TTV Capital’s second in the FinTech space this year, previously leading the $16m Series A in Greenlight Financial Technology. Greenlight is a personal finance platform for children that provides them with a mobile app-based account and a debit card to control their spending.
Last year, North America led the way for the data and analytics sector as it received 82 per cent of the total global investment volume, according to data by FinTech Global.
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