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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
