Over the last 25 years, credit infrastructure has been built entirely on data provided by the bureaus. In the last 10 years, we’ve seen an explosion of new financial services being created leveraging data that’s never been used before. New APIs are helping accelerate the birth of more and more fintechs.
Today, we have an explosion of new data, new products, and new risk.
But, building for this new world is onerous and painful for a fintech team. Getting a complete picture of a consumer’s finances requires significant engineering time and resources, and every new data source presents its own unique set of challenges. Overall, massive data liquidity requires new data infrastructure and standardization to allow fintechs to deliver timely and relevant products. Right now, these key concepts are not there.
This is where we come in. Pave is abstracting the data engineering and data science work necessary to build the next generation of fintech products.
57 million Americans are living with subprime credit, and 1 in 3 American adults aren’t able to obtain a credit score. Largely, their data is collected and passively stored in databases. The data’s there, but the infrastructure to provide actionable insights back to consumers is fragmented.
We believe that by lowering the friction of extracting financial insights from an ever growing number of data sources, we can help accelerate the development of innovative and inclusive financial products.
We’re on a mission to enable builders to reinvent and lower the cost of financial services.
We founded Pave to enable developers, data scientists, and PMs to spend less time dealing with dirty financial data and more time launching features that help people manage and grow their finances.
Prior to Pave, our journey started in emerging markets – mainly Africa and Central Asia – where we were focused on extracting financial insights from mobile money & mobile usage data. We developed a key insight that while more underbanked populations were getting access to financial products for the first time, it was (and is) incredibly costly and resource intensive for fintech companies to deal with the growing amount of digital financial data that was becoming available.
That key insight led us to start Pave, where we’re now focused on solving the problem of integrating, cleaning, and analyzing financial data in the US – no matter the source – in order to help builders accelerate the development of innovative and inclusive financial products.
We’re striving to make Pave the standard consumer financial profile.
