The Venture Codex

Participated · Seed · Feb 2024

Cambio builds AI phone bots that negotiate debt collections on behalf of consumers and, via an API called AviaryAI, places outreach and sales calls for banks, credit unions and insurers. The company began as a neobank in 2021 but pivoted after Y Combinator to focus on tools that help users improve credit and resolve collections. Cambio says its debt-negotiation offering helped around 70% of customers resolve collections and that seven out of 10 customers improved their credit scores within 60 days. The consumer app has reached nearly 90,000 users and the business model shifted from freemium to paid. Cambio is trialing its B2B API with early adopters including Envisant, Encurage Financial Network, Agenium and Skyla Credit Union, and plans to focus monetization efforts on the API while keeping the consumer app. The company also emphasizes legal compliance and quality-control measures for its bots, and reports AI-call pickup and success rates comparable to human callers. Cambio is a mobile app serving consumers with credit scores below 650, helping them resolve bad credit items, build credit through a 0% interest loan, and access affordable refinancing opportunities. Members receive daily guidance and updates to navigate the complex U.S. credit system. The company positions itself as addressing roughly 100 million consumers with debt in collections and aims to help non-banking Americans save money and rebuild finances. Cambio says it grew from an idea to a movement where people can invest in themselves and escape the pain of damaged credit. The company plans to use Y Combinator's resources to accelerate growth and impact following its acceptance into YC's Summer 2022 cohort. Cambio is based in Chicago and is led by CEO and founder Blesson Abraham.

Participated · Equity · Jun 2009

Integral provides cloud-native SaaS FX workflow solutions for buy-side forex participants, including banks, brokers, asset managers, and hedge funds. Founded in 1993, the company offers a modular platform with workflow automation and liquidity aggregation capabilities. Last year it expanded into crypto through a partnership with Mint Exchange, launching aggregation and connectivity to liquidity providers, desktop and mobile client trading, risk management, and custody solutions. The company raised $30 million in growth financing and will use the proceeds to increase headcount and strengthen its product roadmap. Management says the funding and partner support will help expand market share and roll out new products globally amid rising demand for cloud-native services. Vistara Growth is positioned to provide both financial backing and operational support through its network of professionals and strategic partners. Integral Development provides a software platform that connects global financial institutions for electronic foreign-exchange trading and allows individual investors to make their own trusted trades or broker trades for clients. The company raised $11 million in a round of capital provided in part by Adams Street Partners. The article does not specify the financing instrument or whether other investors participated in the round. Integral Development has previously taken financing from Accel Partners, Hudson Ventures, MMV Financial and Sand Hill Capital. Based in Mountain View, Calif., the company employs about 100 people. It recently hit profitability and is looking to expand its sales and customer-support departments.