- SuperFi obtained $1 million in pre-seed funding for its debt administration and reimbursement platform.
- The spherical noticed contributions from Ascension, Truthful By Design, Power Over Mass, and features a grant from the Higher London Authority.
- SuperFi’s debt administration app will likely be publicly obtainable in late 2023.
Personalised debt help platform SuperFi has landed $1 million in pre-seed funding for its platform that helps customers perceive, handle, and repay their debt. The spherical brings the corporate’s complete funding to $1.2 million.
The funding was led by Ascension and its impression fund, Truthful By Design, and noticed contributions from Power Over Mass and others. Additionally included within the funding quantity is a grant from the Higher London Authority. SuperFi obtained the grant funds as a part of the Mayor of London’s Problem LDN scheme to fight poverty.
U.Okay.-based SuperFi was based in 2021 with a aim to help the 18 million British adults struggling to pay their month-to-month payments throughout the price of residing disaster. To perform this, the corporate exhibits customers an summary of their money owed, analyzes their monetary and private circumstances, and presents them entry to debt prevention instruments and providers.
“We consider that debt administration needs to be proactive, not reactive. Our aim is to assist thousands and thousands of individuals struggling to pay their payments and credit score commitments higher handle their debt earlier than it turns into a disaster,” mentioned SuperFi Cofounder Tom Barltrop. “In doing so, we consider we can assist British folks throughout the price of residing disaster – saving companies and society billions related to drawback debt.”
Immediately’s funding will assist SuperFi check its platform with Councils and Housing Associations throughout London earlier than the corporate rolls the product out to a wider U.Okay. viewers. The funding may also be used to type partnerships with London boroughs.
SuperFi plans to make its app publicly obtainable in late 2023.
Picture by Towfiqu barbhuiya
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