Germany-based troy receives ‘seven-figure’ investment

Germany-based digital debt collection platform troy received a ‘seven-figure financing round earlier in the year.

The investment, which has been announced through a release from High-Tech Gründerfonds who took part in the round, was closed in May. Other contributors to the round included 3E Capital Group and a number of business angels from Raisin and Bonify.

troy was founded last year and launched its services to the public last month. Its aim is to improve the digital debt collection process while maintaining relationships between clients and customers. The company combines marketing and CRM methods with data and machine learning technology to improve debt collection.

To improve conversion, troy communicate through a variety of channels and uses individually adjusted messages. Alongside this, it offers high transparency, multiple payment methods and ‘friendly communication.

troy founder Till Völzke said, “It is particularly pleasing that the individualised, friendly communication and flexible processes also have a positive effect on the recovery rate. This strengthens our mission to become the most customer-friendly debt collection company in Europe.”

Earlier in the year, High-Tech Gründerfonds made a €1m seed investment into German FinTech company Remind me. The company offers a reminder and recommendation service for contacts and insurance policies, to ensure users do not miss cancelation deadlines and are provided with recommendations for better tariffs.

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