Initiative aims to complement the Sinqia Digital unit ecosystem and accelerate growth through new products and features for more than 600 customers
Sinqia, a leader in software and innovation for the financial sector in Brazil, through Torq Ventures, its Corporate Venture Capital (CVC) program, announced a direct investment in Data Rudder, a platform focused on guiding clients in decision making based on in data with the use of Artificial Intelligence and Auto Machine Learning.
The investment of R$ 3.1 million is another direct investment of the program, and reinforces the company's strategy of investing in companies that are connected to its business, that complement the portfolio and add emerging technologies to its client portfolio.
The relationship between Sinqia and Data Rudder goes back a long way, through the Darwin Startups acceleration program. “Given the company's evolution, and the growth potential, we understood that it was time to make the contribution and join efforts to build innovative products using Artificial Intelligence and Auto Machine Learning”, comments Juliana Innecco, head of investments at Torq Ventures.
The first initiative is a new product, the result of a successful PoC (Proof of Concept) carried out with a Sinqia customer from the Banking vertical. It consists of detecting fraud at the time of onboarding of credit, integrated to the Simply solution, one of the companies of the Sinqia Digital unit.
“Bringing innovations to customers is the company's main purpose, always making promising moves, following market changes and strengthening its products with emerging technologies. This investment will benefit all business units, in addition to Sinqia Digital itself, where we are starting to explore synergies”, explains the head of investments.
Data Rudder was founded in 2018 in the city of Florianópolis (SC) by Rafaela Helbing and Thais Nolasco. In 2020, it was accelerated by Darwin and, today, it has important clients in the financial segment in its portfolio. In reference to the car brand famous for the “Back to the Future” trilogy, its DeLorean product offers algorithms for machine learning fast, efficient, with interface user friendly and transparent.
About the Market
According to the Deloitte report – FEBRABAN Banking Technology Survey 2021, investment in technology grew by 8% in 2020. According to 93% of the 21 banks interviewed, artificial intelligence and cybersecurity are priority topics on the innovation agenda of the main financial market institutions . In addition, AI applied to customer service remains on the agenda of investments in disruptive technologies, largely due to digitalization and advances in the Open Banking, which brings challenges to the sector's ecosystem and will demand the delivery of services of greater value to the banking customer.
About Torq Ventures
Torq Ventures is Sinqia's Corporate Venture Capital (CVC), which has completed its first year of activity, and already has a portfolio of more than 40 investees. Its purpose is to accelerate the strategy of Open Innovation inside and outside the company, strengthening its relationship with several players in the innovation ecosystem. “We are looking for startups that have B2B operations in the financial market, complement the portfolio or accelerate the launch of new products and features, with scalable business models, based on cloud and SaaS strategy. Torq Ventures has all the expertise of Sinqia and its reach in the financial market, we were able to deliver to entrepreneurs much more than money. We are directly connected to the founders and founders, helping from the moment of acceleration to the gain of scale. For innovative companies that want to grow in the financial sector, Torq Ventures is the right partner.”, says Leo Monte, the company's director of innovation.
about Sinqia
Sinqia is a leader in software and innovation for the financial sector in Brazil and one of the largest providers of technology and services for this segment. Since 2005, it has been executing a consolidation strategy that has resulted in industry leadership after 23 acquisitions. It is one of the fastest growing companies in Brazil and since 2017 it has been elected as one of the 100 largest Fintechs in the World, according to IDC. In 2020, Sinqia joined the ISG Provider Lens, a worldwide survey that qualifies software and service companies and is an important reference for technology buyers. With a bold and innovative profile, the company is a reference in governance, was one of the pioneering technology companies to go public and belongs to a select group listed on B3's Novo Mercado.
About Data Rudder
Data Rudder is a startup that has been operating in the financial market since 2020, and uses artificial intelligence and auto machine learning to support companies in decision making based on data. Its SaaS platform, called DeLorean, promotes efficiency to the data science journey through an innovative product. It delivers functionalities such as model testing, strategy implementation and the incorporation of market data. It has algorithms capable of detecting fraud, credit risk, collection, churn, NBO (Next Best Offer), among others. Its differentials are the speed of implementation (Plug & Play), the efficiency of the algorithms, the transparency of the forecasts, the easy analysis of the results and its friendly whitelabel visualization interface.
