Team behind predictive analytics firm Framed Data join Square Capital

Team behind predictive analytics firm Framed Data join Square Capital

Square is bringing on board the team at predictive analytics startup Framed Data, who will use their machine learning knowhow to expand the Square Capital financing business.

Founded in 2013, Framed Data uses machine learning to help businesses predict customer engagement and then prescribe marketing actions.

The company, which raised $2 million in seed funding in 2014, will shut down its offering in the next few weeks and its employees - which number fewer than 10 according to LinkedIn - will join the Square Capital team.

Square Capital uses the transaction history of Square's merchant customers to make decisions on whether to advance them funds. Last year the firm made more than 70,000 payments worth $400 million.

The Framed Data team will build models that "allow us to further extend financing to businesses, including those that would otherwise find it difficult or impossible through traditional banking," says Square Capital lead Jacqueline Reses.

Comments: (1)

Hitesh Thakkar
Hitesh Thakkar - FIS Payments Software and Services India - India 15 March, 2016, 09:26Be the first to give this comment the thumbs up 0 likes

This is brilliant move.