US-based external data acquisition marketplace DemystData has received $12.5m in growth capital from investors including Singtel Innov8, the corporate venturing arm of telecoms firm Singapore Telecommunications.
Venture capital fund MissionOG and VC firm Notion Capital co-led the round, which took DemystData’s overall funding to at least $24.5m.
Founded in 2010, DemystData runs an online marketplace enabling financial institutions to access data from a range of external sources for purposes such as risk management, targeted marketing and customer verification.
The funding will help the company add more data packages to its platform and fund upgrades to its underlying technology. DemystData also plans to expand its team with additional product and client support specialists.
Mission OG led a $7m series B round for DemystData in 2016 that included Singtel Innov8, Notion Capital and, it later revealed, financial services firm Siam Commercial Bank’s Digital Ventures unit.
The company had already raised $5m in a 2014 series A featuring Singtel Innov8, Notion Capital, P2P Equity Partners, Errol Damelin and Arbor Ventures, the latter of which had co-led a round of undisclosed size with Accion in 2012.