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The platform answers questions like, what will a company’s revenue look like in the future? is a transaction is fraudulent? and much more. Currently, they are operating with organizations such as banks, e-commerce, and fintech companies across Africa and the United Arab Emirates. It was founded in 2019 by Ebot Tabi, with a mission to help B2B (business to business) startups become data-driven and make data systems simple for businesses. Data helps businesses in making better business decisions and enables them to carry out key initiatives strategically. Access to quality data and analytics is therefore important to the success of a business. To solve the problem of inadequate data, Voyance introduced two of its first products namely Manhattan DB and Sigma.
- Manhattan DB: This product allows professionals who deal with data to easily store and analyze gigabytes and petabytes of data. It also builds machine learning models and deployment with zero operational costs. It simply provides efficient, scalable data infrastructure that is fully managed by businesses.
- Sigma: This was originally a fraud monitoring platform that uses collected data from fintech within Africa to protect them from fraudsters. Now, it is an encompassing risk operations platform that can be used to handle business problems such as transaction monitoring, compliance, and anti-money laundering. Sigma allows businesses to innovate and scale quickly without high risk.
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The round was led by Beta. Ventures with participation from Zedcrest Capital, HoaQ club, and Assembly Investors. Angel investors such as Fola Olatunji-David, founding partner of Kickoff Africa, and Nelly Chatue-Diop, the co-founder and CEO of Ejara amongst others contributed to the round. Since its inception, Voyance has been able to build a data structure that allows businesses to connect many data sources and transform data at scale. The company has also partnered with businesses such as Dojah, Ejara, Bitnob, and others. This new funding will enable Voyance to continue its efforts to create products for the expansion of Data+Artificial Intelligence in support of more data sources, advanced transformations functions, machine learning automation, and advanced analytics. The data infrastructure company will also launch its risk operation application programming interface platform to simplify and enable businesses to innovate and reduce risks while growing. They have an additional plan to partner with key innovators such as WoodCore to develop new application programming interface verticals, blooming its mission to aid easy access to data science in a fast and simple way. Voyance will further help B2B businesses become data-driven and its commitment is fueled by the desire to simplify the process of getting businesses to expand. Featured Image Source: Crunchbase
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