4 years ago
DebtStream Raises £1.1 Million Seed Funding to Modernize Debt Repayment
UK-based startup DebtStream has raised £1.1 million in a seed funding round led by Ascension
The company offers a digital platform for businesses to collect debt from customers in arrears, allowing them to manage repayments privately and at their own pace
The funding will be used to hire engineers and client setup personnel, as well as to develop a 'plug and play' model for faster client onboarding.
ProblemFinancial Services
"Debt collection industry is outdated and doesn't use digital tools to help people in arrears manage their repayments. Traditional methods like call centers and letters can be overwhelming and cause people to ignore the situation."
Solution
"DebtStream is a digital platform that allows people in arrears to manage their repayments privately and at their own pace. It offers a personalized and user-friendly experience, helping people get back on their feet sooner."
