DemystData pockets $7m for financial services data analytics

Data analytics for financial institutions provider DemystData has raised $7m in its Series B round of funding.

The investment was led by MissionOG and saw participation from Notion Capital and Singtel Innov8.

The New York company aims to help financial institutions make better use of unstructured, online and internal data in decision making around areas such as growth, risk and compliance.

DemystData’s head of product Mark Hookey said the company’s Atlantic Platform can help “clients cut risk by up to 60% and increase acceptance and straight-through processing rates to convert more customers.”

Adding, “We provide the key to accessing valuable data 10-times faster while adhering to increasing privacy constraints.”

The new round takes DemystData’s funding to $16m in total.

The capital will be used to expand its technical and customers services teams as well as strike new data partnerships to meet demand in the US and Asian pacific.

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