Nubank is reinforcing its commitment to an AI-centric strategy by acquiring Hyperplane, a data intelligence company based in Silicon Valley, for an undisclosed amount.
Founded in 2022, Hyperplane specializes in helping banks harness their first-party data to deliver tailored customer experiences. Its platform allows financial institutions to train, evaluate, and implement self-supervised deep-learning models on their proprietary data, facilitating more informed decision-making. Serving as a centralized hub, banks can develop numerous custom models across various business sectors, including risk management, collections, and marketing.
This acquisition comes shortly after Hyperplane secured $6 million in seed funding. Nubank, a leading digital bank in Brazil, recently surpassed the milestone of 100 million customers. The bank anticipates that integrating Hyperplane’s technology will yield immediate advantages, enabling them to offer smarter, fairer, and more personalized financial products and services.
Handling vast amounts of data daily, Nubank believes that Hyperplane will enhance its machine learning capabilities and establish foundational models for its product and engineering teams, ultimately improving the overall customer journey.
David Vélez, CEO of Nubank, stated, “Since our inception, Nubank has aimed to simplify banking and empower our passionate customer base. Our early investments in AI, combined with the strong infrastructure and talent that the Hyperplane team has developed, will accelerate our mission.”