Brazil’s Nubank buys AI-powered data intelligence start-up Hyperplane
Brazilian challenger Nubank has acquired US-based data intelligence start-up Hyperplane for an undisclosed sum.
Nubank acquires Hyperplane
The deal will see Nubank utilise Hyperplane’s AI expertise to power its core machine learning capabilities as it looks to provide more personalised financial products and services to its customers.
In addition, Nubank intends to harness its new acquisition’s AI tech to build foundational models that its product and engineering teams can “consume” to upgrade its customer experience at “every step of their journey”.
Founded in 2022, Hyperplane offers a platform that helps financial institutions assess, train, and deploy self-supervised, deep-learning models leveraging first-party data to enhance decision-making.
In late 2023, the US start-up came out of stealth mode with $6 million in seed funding. The company revealed to TechCrunch that it was collaborating with “about a dozen” banks in Brazil at the time, and aimed to expand into the US market.
Felipe Lamounier, Hyperplane’s co-founder, says the acquisition by Nubank will “accelerate our vision of hyper-personalised consumer banking because of the maturity of their data stack and a culture of innovation”.
Nubank says its existing technology infrastructure and “integration path” will allow the challenger to instantly leverage Hyperplaneʼs AI capabilities from “day one”.
“Hyperplane’s AI technology will seamlessly integrate into our systems, enhancing our ability to analyse vast datasets and personalise our services on a granular level. This is a significant milestone in our journey towards a smarter, AI-first banking ecosystem,” states Vitor Olivier, Nubank’s CTO.
