The debt collection platform has completed a series B round featuring insurer Assurant that will fund product development and client acquisition.
US-based automated debt collection platform TrueAccord closed a $22m series B round on Tuesday that included Assurant Growth Investing, the corporate venturing unit of insurance firm Assurant.
Venture capital firm Arbor Ventures led the round, which also featured Nyca Investment Partnership, Caffeinated Capital Fund, Felicis Ventures, TenOneTen and Crystal Towers.
Founded in 2013, TrueAccord has developed a platform that uses machine learning to power a decision engine that personalises a consumer’s debt collection experience based on their behaviour.
The software…
