Incredible, a London, UK-based provider of an automated mobile platform to manage debt, raised $1M in Pre-Seed funding.
Backers included Mark Ransford, Atomico angels Joe Cross (ex-Wise), Russell Smith (ex-Monzo) and Michael Tefula, A16z scout Keith Grose (ex-Plaid), and ex-TechCrunch journalist Steve O’Hear. Techstars and Angel Invest Ventures also invested.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Yaseen Rostom, Incredible provides consumers with an automated mobile app, which leverages technology like open banking and AI, to track, manage, and repay their credit card debts. Features include Roundups, which turns spare change into interest savings, and IncrediPay, which offers a single consolidated monthly payment that covers repayment needs.
Since the company’s iOS and invite-only Beta, the platform has connected to over £2m in credit card debt and helped thousands of consumers reduce their interest payments.
In the future, Incredible plans to capture the full portfolio of credit products, from loans to car finance, BNPL to mortgages.
FinSMEs
15/05/2024