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Segovia (company)

Segovia (company)

Segovia built an API to provide a secure and reliable platform to connect frontier markets to payment networks.

Founded in 2014 by Michael Faye and Paul Niehaus to connect frontier markets to payment networks. Segovia is a modern enterprise software for aid programs and NGOs.



Their platform used satellite imagine, machine learning, biometric identification and adaptive fraud detection to offer an end-to-end platform addressing the challenges associated with final-mile delivery to people in emerging markets.

Acquired

Announced in April of 2019, Segovia's enterprise business and payment gateway product focused on frontier market payments was acquired by Cabim, the parent company of Crown Agents Bank. The two companies had been working together since 2017 to assist international businesses with large payment flows across developing markets.

Funding

Seed

In July of 2014, Segovia announced the conclusion of their Seed Funding round. The amount raised was undisclosed.

Venture - unknown series

Segovia raised $13.8 million in venture funding in July of 2015. Reid Hoffman and Greylock Partners led the round which included investment from Arif Naqvi, Pershing Square Foundation and Omidyar Network Inc.

Venture - unknown series

Announced in February of 2016, Segovia raised $750,000 in equity funding from Global Innovation Fund.

Timeline

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