Cambio, which is introducing AI bots designed to negotiate debt and communicate with bank customers, has raised $3m for its seed round.
The seed round saw contributions from an impressive roster of investors, including Builders, DVC, EGR Partners, Envisant, Encurage Financial Network, Goodwater Capital, Leonis Investissement, Sandhill Capital, Y Combinator (YC), and various angel investors, according to a report TechCrunch.
Cambio’s core service revolves around the use of artificial intelligence to assist consumers in managing and negotiating their debt. The company’s AI bots are capable of engaging in phone conversations on behalf of users.
This technology not only negotiates with collectors but also provides real-time coaching to users during calls, a feature inspired by the capabilities of ChatGPT.
The funding will be directed towards further development of Cambio’s AI technology and expansion of its services to banks and credit unions. This includes the roll-out of AviaryAI, an innovative solution that enables financial institutions to enhance their sales and customer service efforts through AI-driven calls.
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