Webio reels in $4m from Series A

Webio, a conversational AI leader in the area of credit, collections and payments, has scored $4m in a Series A round led by Finch Capital.

Webio claims its technology has enabled UK and European firms to communicate conversationally with customers throughout their credit and collections journey. Customers are able to ask questions, change payment dates, or organise new repayment schedules, all done through conversational AI and automation.

The company said it is primed to scale-up following the digital shift during the pandemic and the uncertain economic climate to make difficult conversations about payments easy through their conversation AI.

Webio will use the capital to deepen its capabilities in conversational AI and additional digital offerings. They plan to triple the firm’s R&D team, expand its sales and marketing teams and expand its customer success teams to deal with UK and European market demand.

Webio CEO and co-founder Cormac O’Neill said, “Conversations about money are stressful and difficult, not only for the customer but also for agents tasked with having these conversations. Going digital means companies can create a whole new set of digital experiences that help customers feel more confident in having those difficult conversations and ultimately, stop them from falling into unnecessary and significant financial difficulty. And we are excited that Webio’s conversational AI is enabling companies to engage with customers in a more empathetic manner, at scale.

“We are growing at more than 100% year on year, and we are targeted to double our headcount with this investment in the next 6 months. I am confident that Webio will maintain its rate of growth and may look to raise additional capital to enter new markets.”

Siply, a startup that has positioned itself as a micro-savings app for underserved Indians, has raised $19m in a pre-Series A funding round.

Copyright © 2022 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.