Otto, a Los Angeles, CA-based financial technology company, raised $4.5M in funding.
The round was led by Kindred Ventures, 645 Ventures, Canaan Partners, TwleveBelow, and a syndicate of angel investors.
The company intends to use the funds to accelerate the development of its machine learning repayment experience, development of its native apps, and further its growth efforts through strategic partnerships.
Founded by Max Klein, Otto is a financial health platform that helps consumers understand, manage, and pay their debt in an efficient way, helping them become debt-free. Its algorithm identifies options for repayment tailored to individual users and centralizes all the most important information into one view, allowing customers to monitor balances, interest rates, and due dates in real-time without logging in to multiple websites and apps. Its software creates tailored repayment plans that adapt to changes in behavior and intelligently recommends exactly how much to allocate to each account to save the most on interest or improve a credit score.
FinSMEs
13/11/2023