Charm Solutions, a San Francisco, CA-based FinTech startup, raised $3.5M in Seed funding.
The round was led by BootstrapLabs.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Jacob Malmborg, Charm is developing an AI-powered SMB Credit Advisor service that leverages self-learning AI to help institutional lenders transform data into insights to drive profitability and help SMBs make business decisions. The company informs and advises SMB entrepreneurs about critical financing decisions, reducing the overall cost of capital, and accelerating access to liquidity to support their growth. Lenders can benefit from its AI driven risk modeling tools for acquisition, underwriting and portfolio management.
A recently announced partnership with Abrigo, a technology provider of compliance, credit risk, lending and asset/liability management solutions finance backed by Accel-KKR and Carlyle, will make CHARM Solutions available to lending institutions via their SageWorks platform. The engine leverages self-learning AI to continuously monitor a wide range of current and historical data, loan performance, and accounting from more than 1,200 institutions.
The company has offices in San Francisco, CA, Wilmington, Delaware, and Stockholm, Sweden.
FinSMEs
18/04/2023