MasterQueue closes first round of funding
Debt collection solutions company Intellaegis, which does business under the name masterQueue, is marking its first round of funding today, reports Julie Muhn at Finovate.
The amount of the investment is undisclosed.
“To this point, we’d been self-funded by the founders and two strategic Angel investors,” says co-founder and CFO Perla Lewis. “This allowed us to double staff and increase our year over year Q1 revenue from 2018 to 2019 by eighty percent.”
The company has also brought on Lance Suder, a former entrepreneur and Stanford grad, as its director of operations.
“As masterQueue makes contacting customers easy, efficient and compliant, I’m proud to join their seasoned team, and we’re excited to have found an investor that shares our vision and passion,” says Suder.
MasterQueue’s debt collections tools help recapture delinquent loans by gathering, organizing, and tracking big data from dozens of data aggregators to find customer assets. The resulting workflow facilitates compliant debt collection, skip tracing, and repossession efforts.
Debt collection technology is one of the lesser-heralded sub-sectors of fintech. Perhaps start-ups are hesitant to enter the space because of its associations with loan sharks. We have, however, seen a handful of successful entrants in the space, including TrueAccord, collectAI, and Global Debt Registry.