Incredible Raises $1M for Debt Management Mobile Platform
Incredible, a London UK-based provider of an automated mobile platform to manage debt, recently announced that they have raised $1M in Pre-Seed funding. The round of funding included backing from successful individuals such as Mark Ransford, Atomico angels Joe Cross (ex-Wise), Russell Smith (ex-Monzo), Michael Tefula, A16z scout Keith Grose (ex-Plaid), and ex-TechCrunch journalist Steve O'Hear. Additionally, Techstars and Angel Invest Ventures also invested in the company.
The funds raised will be used by Incredible to expand their operations and further develop their innovative platform.
The company, led by CEO Yaseen Rostom, aims to provide consumers with an automated mobile app that utilizes technology like open banking and AI to effectively track, manage, and repay credit card debts. Features of the app include Roundups, which converts spare change into interest savings, and IncrediPay, offering a single consolidated monthly payment for all repayment needs.
Since the launch of the company's iOS app and invite-only Beta version, Incredible has successfully connected to over £2m in credit card debt and has assisted thousands of consumers in reducing their interest payments. Looking ahead, the company has ambitious plans to expand its services to cover a full portfolio of credit products, ranging from loans to car finance, Buy Now Pay Later (BNPL) options to mortgages. With its innovative approach and strong backing, Incredible is well-positioned to make a significant impact in the financial technology space.
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