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Industry

FinTech

Company Type

Payments/Billing

Size

$10 Million

Investment Type

Equity

Overview

Remitter is seeking $10 million to grow its AI-powered accounts receivables technology platform

Established disruptive white-labeled fintech platform for improving recovery of accounts receivables


AI-driven platform built for enhanced customer engagement and superior customer outcomes

Focused on the growing North American market – personal debt in the US is quickly approaching a record high USD$4.0 trillion


Fully US compliant and positioned for rapid scale –US compliance requirements provide significant barriers to entry


Enables lenders, utilities, or any company with receivables to scale without adding FTE by automating personalized digital messages with an actionable link to a dynamic, self-serve payment portal


End-to-end collections from white-labeled SaaS to licensed, digital-first collections services


Remitter reduces exposure to compliance risk with code-driven guardrails – ensuring compliance with TCPA, Reg-F, and federal and state-specific disclosures

Opportunity

Non-housing consumer debt reached 4.66 trillion in Q1 2023


Debtors aged 39 and younger account for 48% of non-housing debt; debtors aged 49 and younger account for 92% of non-housing debt


Over 70 million consumers have a debt in collections


Call center capacity has declined due to Covid


Right party contact rates continue to decline as consumer preferences shift to digital-first solutions

Solution/Strategy

Remitter’s omnichannel technology engages consumers on their preferred channel and enables them to repay at a convenient time

Consumers are driven to a dynamic payment portal where they can pick which repayment option fits their needs


Remitter technology enables a greater than 90% consumer self-serve rate without human intervention


Remitter’s AI-powered platform adapts to each debtor – channel, time, message, and repayment options


Payment gateway agnostic – Platform built to seamlessly integrate into customer’s current systems with little disruption


Fully compliant with all US regulatory requirements and positioned for rapid scale

https://www.newyorkfed.org/medialibrary/interactives/householdcredit/data/pdf/HHDC_2023Q1

Management

Dave Snow| President


  • Over ten years of experience in consumer finance and accounts receivables, having served in senior sales and leadership roles at Spruce Finance, CounterpointeSRE, and TrueAccord. Founded American Energy to develop and finance solar systems for homeowners across California – American Energy was responsible for a half megawatt of solar installations each month
  • Co-founded Adaptive Resources, a software platform designed to manage supply chain logistics and trade finance

Chris Helton| CTO


  • Over 30 years of executive, technical, and strategic leadership experience. Visionary thought leader that drives creative and innovative approaches to achieving business objectives
  • Background includes Technology BPO leadership at IntelliRisk (Iqor), Convergys (Concentrix), AT&T, and HKT Teleservices

Mark Casey| Director, Co-Founder


  • Over 30 years of experience in construction and retirement
  • Managing Director of Casey Capital, an established property development business, undertaking development conception, planning, construction and project management for projects that range between $5M – $1B in value
  • Directs related property and development consortiums
  • Seed investor, strategist and director of various startup business including most recently Credit Clear Ltd which listed on the ASX in 2020

Simon Scalzo| Director, Co-Founder


  • Founder and Director of multiple high-growth tech startups
  • Led a range of mobile-first technology businesses from startup to maturity, including public listings
  • Strong global network, with a focus on the North American market. Founded Evoke Autopay (BNPL) and merged BNPL into Openpay Ltd, leading the group as CEO
  • Director of Credit Clear Ltd, leading the group as Managing Director.  Holds several director and advisory board roles, including Cointree (leading crypto exchange), Director for connexion (ASX: CXZ, a listed USA automotive technology company) and advisory chairman of Turbopass LLC (leading US-based consumer residency and income verification technology platform)
  • Was a partner and board member at BDO, leading BDO’s national retail advisory practice specialising in retail and technology
Learn More About Remitter
Thank you for your interest in Remitter.Please fill out your information and we will contact you shortly with more information on this opportunity.

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CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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