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#Yorkbased ttv capital 1b software
#Yorkbased ttv capital 1b series

The Financial Times published an article about deposit outflows at large regional U.S. It’s also about capturing net-new revenue streams that have been created by the digitization of analog industries. My friends and my peers started asking, ‘Can we use your software?'”Įmbedded finance isn’t just about cannibalizing existing financial services revenue streams. “We had mobile apps, we had a cloud-based experience… and at that point, I started to feel market pull. “Post-Covid, we were fully digital,” Marmo says.

He started building the technology behind CurbWaste to help manage his own operations more efficiently before productizing the platform and making it available to other waste management companies.

#Yorkbased ttv capital 1b software

Every week you have folks building software to streamline tasks that have never been properly digitized.

It’s easy to assume that the internet has permeated every corner of the economy, but that isn’t true. The number of industries that are, only now, being digitized is mindblowing. One of the core reasons that B2B embedded finance is exciting actually has nothing to do with fintech. New York-based CurbWaste provides an all-in-one SaaS platform for managing waste and recycling operations, including CRM, task management, route logistics, fleet tracking, and data reporting.Ĭrucially, it also integrates online ordering, invoicing, payments and asset management and plans to expand its fintech suite with revenue-based financing in the near future. #2: Waste Management Fintech What happened?Ī new fintech company raised a seed extension:ĬurbWaste, a SaaS software and payments provider to the waste management industry, has raised a $4 million seed extension from TTV Capital, the company tells Axios exclusively.

#Yorkbased ttv capital 1b series

$33 million for a Series A seemed a touch high to me, but maybe this explains it – running three different businesses simultaneously is expensive. In addition to offering technology and analytics to lenders, it also is trying to sell its services through employers, and it has a consumer-facing app, which helps individuals manage their loans in one place and access short-term liquidity when needed.

It’s not uncommon for companies in the debt management space to attack the market from several different angles simultaneously.

CMFG Ventures was one of the other investors in this latest round for Clerkie, so maybe credit unions? However, smaller banks do more commercial lending than consumer, and collections in commercial lending is more about relationship management than it is about technology. Its value proposition (AI to identify borrowers who are about to go bad) likely won’t resonate with the really big banks (they think their AI is better than anyone else’s).

I wonder which types of lenders Clerkie wants to sell its technology to.

This is an area that lenders typically don’t care about when times are good, but do invest in more during adverse credit conditions.

Clerkie appears to be focused on early-stage collections (helping borrowers who are just starting to fall behind on their payments) rather than later-stage collections or recovery (more serious delinquencies and write-offs).

If it finds borrowers are at risk, Clerkie proactively enrolls them in hardship assistance programs, which offer personalized options to reduce their debt burden and avoid the more traditional collections process. It looks at data points like spending velocity and abnormal spending behaviors and, based on a borrower’s budget or income, determines whether or not there is a risk of delinquency. #1: Debt Management, for Whom? What happened?Ī fintech company focused on debt management raised a Series A:Ĭlerkie, a startup providing debt repayment and optimization tech to lenders, has raised $33 million in Series A funding from Left Lane Capital, the company tells Axios exclusively.Īs more people fall behind on bills due to rising interest rates, Clerkie technology helps borrowers get out of debt and helps lenders reduce delinquencies.Ĭlerkie sells tech that banks use to manage their loan losses by identifying borrowers potentially facing delinquency before they default. Stack of books and stationery (1891–1941) by Leo Gestel.