Dealflow | July 18, 2018

Alt-credit scoring startup Cignifi secures $4.3 million

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

The Cambridge, Mass.-based company uses mobile phone data as a basis for determining credit risk for unbanked customers around the world. Launched in 2010, it has local operations in six countries from which it has served more than 100 million people in 13 countries.

The company raised more than $7.7 million in prior funding round, bringing on Omidyar Network as a significant early investor.

Cignifi has now closed an additional $4.3 million in equity in a funding round it launched last July. LeapFrog Investments and Omidyar Network both participated in this round.