Ophelos, a London-based FinTech startup that uses AI to resolve the existing debt crisis in the UK has announced that it raised £5 million in seed funding.
The round was led by AlbionVC, with participation from Vast Ventures, Form Ventures, as well as existing investors Connect Ventures and Fly Ventures.
A group of angel investors, including Matt Robinson (Co-Founder, GoCardless & Nested), James Meekings (Co-Founder, Funding Circle), Jonah and Noah Goodhart (Co-Founders, Moat), and others contributed.
Ophelos will use the funds to back its ambitious growth plans as the company looks to rapidly expand its debt resolution automation platform so it can support more companies and people across the UK. In addition, it will also enable the fintech startup to double the size of its team in 2023. It will hire talent across engineering, product, data, and machine learning, for marketing and sales teams.
Company: Ophelos Limited
Round: Seed Round
Funding Month: June 2022
Lead Investors: AlbionVC
Additional Investors: Vast Ventures, Form Ventures, Connect Ventures, Fly Ventures, Matt Robinson, James Meekings, Jonah & Noah Goodhart
Company Website: https://ophelos.com/
Software Category: Debt Resolution
About the Company: Founded in 2021 by Amon Ghaiumy, Paul Chong, and Professor Qingchen Wang, Ophelos, is a FinTech startup that’s transforming the debt collection industry through machine learning and behavioral science. Ophelos is focused on making the debt resolution process fairer and easier for businesses and their customers, combining ethical business approaches with AI technology. Its debt resolution platform merges machine learning, advanced analytics, and digital customer experiences with a human approach based on caring and understanding. It is underpinned by its smart language analyst, ‘OLIVE’, which helps to identify potentially vulnerable customers in debt through natural language understanding, along with a focus on digital self-service, which allows customers to resolve their debts on their terms. Ophelos’s clientele boasts three of the largest energy retailers in the UK, and fintech brands, including Yonder, Plend, and Butter.
Source: https://content.ophelos.com/post/announcing-our-5m-seed-funding-round https://techfundingnews.com/ai-to-resolve-debt-crisis-london-based-ophelos-raises-5m-led-by-albionvc/