- Incredible bags $1m pre-seed funding to revolutionize credit management
- London-based FinTech startup secures investment from notable figures in the industry, including Mark Ransford and Atomico angels
- Incredible’s mobile platform uses Open Banking and AI to automate credit card debt repayments and consolidate debts
- Funding will be used to launch platform and app, expanding coverage to various credit products
- CEO Yaseen Rostom aims to simplify credit management for all consumers, transforming it into an empowering financial aspect
Incredible bags $1m Pre-Seed Funding to Revolutionize Credit Management
Incredible, the London-based FinTech startup, has recently made waves in the industry by securing $1m in pre-seed funding aimed at revolutionizing credit management for consumers. This significant investment marks a pivotal moment for the company as it strives to transform the way individuals approach and handle their credit card debt.
Securing the Investment: Notable Backers and Industry Support
The pre-seed funding round for Incredible attracted a diverse group of investors, including prominent figures in the FinTech sector. Serial investor Mark Ransford, along with Atomico angels Joe Cross and Russell Smith, added their support to the initiative. Keith Grose, an A16z scout and former Plaid executive, as well as Steve O’Hear, a former TechCrunch journalist, also joined the roster of backers. Additionally, institutions like Techstars and Angel Invest Ventures contributed to the funding, highlighting the widespread interest and confidence in Incredible’s innovative approach to credit management.
Revolutionizing Credit Management with Innovative Solutions
Incredible’s mobile platform stands out for its utilization of Open Banking and Artificial Intelligence to streamline and automate credit card debt repayments for consumers. By consolidating debts from multiple credit cards, the platform offers a more efficient repayment method, potentially reducing interest payments through features such as Roundups and IncrediPay. This approach not only simplifies the process of managing credit but also empowers individuals to take control of their financial obligations in a more accessible and intuitive manner.
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The funds raised from the pre-seed funding round will be instrumental in fully launching Incredible’s platform and mobile app, making credit management solutions available to a wider audience. The company plans to expand the range of credit products covered by the platform, including areas such as car finance, loans, buy-now-pay-later schemes, and mortgages. This expansion reflects Incredible’s commitment to providing comprehensive and user-friendly tools that cater to diverse financial needs and preferences.
Empowering Consumers and Redefining Financial Wellbeing
Yaseen Rostom, the CEO and founder of Incredible, envisions a future where managing credit cards and loans is simple and accessible to everyone, regardless of their financial expertise. The company’s mission revolves around transforming the perception of credit management from a burden to a manageable and even empowering aspect of individuals’ financial lives. By combining innovative technology with a user-centric design, Incredible aims to empower consumers to navigate their financial responsibilities with confidence and ease.
Incredible’s successful iOS and invite-only Beta launch in the summer of 2023 has already made a positive impact on thousands of users, helping them reduce interest payments and effectively manage over £2m in credit card debt. Joe Cross, a former executive at Wise and an angel investor in Incredible, highlighted the pressing need for transformative solutions in the credit management sector. He praised Incredible’s approach, emphasizing the fusion of intuitive design with cutting-edge technology to enable individuals to regain control of their financial well-being.
Incredible’s recent achievement of securing $1m in pre-seed funding represents a significant milestone in its mission to revolutionize credit management for consumers. With the support of notable investors and industry experts, the company is poised to make a lasting impact on how individuals approach and handle their credit card debt. By leveraging technology and innovation, Incredible is set to redefine financial empowerment and provide individuals with the tools they need to navigate their financial obligations effectively and confidently.
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