Clerkie, a San Francisco, CA-based AI-powered financial automation platform, announced that it raised $33 million in Series A funding, bringing its total raised to $41 million.
The round was led by Left Lane Capital with participation from Wellington Management Company, Flourish Ventures, Citi Ventures, CMFG Ventures, and Vestigo Ventures. Fintech visionaries David Velez, founder of Nubank, and Tom Proulx, founder of Intuit, also participated in the round.
The funds will be used to grow the engineering team and rapidly scale the company's debt workout solutions to support more partners and help more borrowers.
"The consumer debt market is fundamentally broken for consumers and the creditors that serve them, as evidenced by the predatory collections practices and the crushing amount of debt burdening American families," said Guy Assad, CEO and co-founder of Clerkie. "Today, tens of millions of Americans are struggling with their debts and are falling into delinquency. It's a lose-lose situation for the borrowers and for the banks who are racking up billions in losses. Our goal is to support struggling American families by giving them better tools to responsibly fulfill their debt obligations and ease their debt burden."
Today, Clerkie's proprietary platform has become the go-to tool for creditors looking to manage their loan losses while simultaneously helping millions of borrowers get out of debt and improve their credit. The platform uses several data points to identify and help potentially delinquent borrowers avoid default.
Round: Series A
Funding Month: April 2023
Lead Investors: Left Lane Capital
Additional Investors: Wellington Management Company, Flourish Ventures, Citi Ventures, CMFG Ventures, Vestigo Ventures, David Velez, and Tom Proulx
Company Website: https://www.clerkie.io/
Software Category: AI-powered Financial Automation Platform
About the Company: Founded in 2017, Clerkie is an AI-powered financial automation platform that is purpose-built to help over 100 million Americans ease their debt burden. The company uses conversational AI to build in-depth financial knowledge graphs that allow the management of loan losses and combine expert financial advice with one-click automation, enabling creditors to manage loan losses and making it easy for users to take action. Clerkie's systems help borrowers by providing personalized debt guidance and workout options to avoid delinquency and build their credit scores.