Financial automation start-up Clerkie bags $33m Series A
San Francisco-based start-up Clerkie, which operates an AI-led financial automation platform, has raised $33 million in Series A funding.
The round was led by Left Lane Capital, with participation from investors including Wellington Management Company, Flourish Ventures, Citi Ventures, CMFG Ventures and Vestigo Ventures. Nubank founder David Velez also participated in the round.
The company previously raised a $6 million seed round. The new round brings its total funding to $41 million to date.
Clerkie will use the funds to hire for its engineering team and scale its debt workout solutions to support more partners and help more borrowers.
Founded in 2017, Clerkie’s AI-led financial planning platform uses conversational AI to interact with users, provide them personalised debt guidance and work out options to avoid delinquency and build up their credit scores.
“The consumer debt market is fundamentally broken for consumers and the creditors that serve them, as evidenced by the predatory collections practices and the crushing amount of debt burdening American families,” says Guy Assad, CEO and co-founder of Clerkie.
Assad claims “tens of millions” of Americans are currently struggling with debt and falling into delinquency.
“It’s a lose-lose situation for the borrowers and for the banks who are racking up billions in losses. Our goal is to support struggling American families by giving them better tools to responsibly fulfil their debt obligations and ease their debt burden.”