Double Data, established in 2012 and headquartered in Moscow, Russia, specializes in developing software solutions that leverage big data search, storage, and mining techniques. The company's mission is to assist financial institutions in enhancing their operations through advanced data analytics, focusing on areas such as customer acquisition, assessment, debt collection, and fraud detection. By integrating cutting-edge technologies into existing banking processes, Double Data aims to reduce past-due debts and improve fraud detection in retail lending.
Key Strategic Focus
Double Data's strategic objectives center on providing big data solutions tailored for financial organizations. The company specializes in creating software products based on proprietary methods and algorithms for data search, storage, and mining. Their core technologies include big data analytics and machine learning algorithms, which are applied to enhance customer acquisition, assessment, debt collection, and fraud detection processes. The primary market targeted by Double Data comprises banks and other financial institutions seeking to improve performance and mitigate risks through data-driven insights.
Financials and Funding
In March 2015, Double Data secured nearly $3 million in a Series A funding round led by Leta Capital and Simile Venture Partners. This investment provided the company with the capital to diversify its product range and expand into new markets. Prior to this funding, Double Data was financed by its founders and reinvested profits.
Technological Platform and Innovation
Double Data distinguishes itself through its proprietary technologies and scientific methodologies:
- Proprietary Technologies: The company develops software products based on unique methods and algorithms for big data search, storage, and mining.
- Scientific Methods: Utilizing big data analytics and machine learning algorithms, Double Data enhances various banking processes, including customer acquisition, assessment, debt collection, and fraud detection.
Leadership Team
The leadership team at Double Data comprises experienced professionals:
- Maxim Ginzhuk: Co-Founder and Chief Executive Officer. With seven years of experience in venture investments and the establishment and management of new technological companies at VTB Capital and VEB-Innovation, Ginzhuk also founded the Startup Leadership Program in Russia. He holds a degree from the Moscow Institute of Physics and Technology.
- Pavel Shuvalov: Co-Founder and Chief Technology Officer. Shuvalov plays a pivotal role in overseeing the technological development and innovation strategies of the company.
Competitor Profile
In the financial services software sector, Double Data faces competition from several companies:
- InnoVergent: Specializes in cloud accounting software and financial solutions, offering ERP consulting, training, and implementation services. Founded in 2006, InnoVergent reported $1.2 million in revenue with a team of eight employees.
- Effi: Provides a SaaS platform for mortgage brokers, focusing on streamlining mortgage processes. Established in 2020, Effi has a team of 12 employees and has raised approximately $936,700 in funding.
- Flexee: Offers salary-on-demand services, allowing employees to access earned wages before payday. Founded in 2020, Flexee has a team of eight employees and has secured $1.8 million in funding.
These competitors, like Double Data, aim to enhance financial services through innovative software solutions, each bringing unique approaches to the market.
Strategic Collaborations and Partnerships
Double Data has collaborated with major banks and financial institutions, including Home Credit Bank, Alfa Bank, and Tinkoff Bank. These partnerships have enabled the company to implement over 100 projects, enhancing various banking processes through big data analytics.
Operational Insights
Strategically, Double Data positions itself as a leader in big data solutions for financial companies. Its proprietary technologies and focus on integrating advanced data analytics into banking processes provide a competitive edge. The company's collaborations with major financial institutions further strengthen its market position.
Strategic Opportunities and Future Directions
Looking ahead, Double Data aims to diversify its product offerings and expand into new markets. The capital raised in its Series A funding round supports these objectives, enabling the company to develop new solutions and reach a broader client base. By leveraging its expertise in big data analytics and machine learning, Double Data is well-positioned to address evolving challenges in the financial sector.
Contact Information
- Website: doubledata.ru
- LinkedIn: linkedin.com/company/double-data
- Headquarters: Moscow, Russia
