Berlin-based PAIR Finance has closed a $4.5m Series A round of funding from a group of investors.
Zalando, Hitfox Group and a selection of angel investors, were among the new investors to PAIR. Some of the angel investors included former Allianz board member Maximilian Zimmerer and former Immoscout CEO Marc Stilke.
Existing investors FinLeap, yabeo Capital and Ey Ventures were also among the participants to the round.
The solution is a data-driven platform that realises open debts of customers, through digital communication channels and behavioural analysis. PAIR uses self-learning algorithms to create a personalised approach to customers, working with them to resolve payment problems and settle claims.
PAIR helps to speed up the repayment of open claims, to improve payment cycles and adjust risk management to increase revenues.
In the future the company is looking to enter its platform into new segments such as banks and insurance companies. Â This new line of capital will be used to expand its marketing strategy and to develop its technology based on artificial intelligence.
Zalando payments VP Kai-Uwe Mokros said, “PAIR Finance stands for the future of debt collection: digital, efficient, customer-oriented. The technology-driven approach as well as the competence of the team convinced us to invest.â€
Germany’s FinTech sector was largely dominated by the marketplace lending and payments sectors last year. Combined, the two verticals represented half of the total capital deployed in the country, seeing $258m invested across 2016.
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