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Venture Capital
FINANCE | Investment Firms & Funds
brewerlane.com

Investments

22

Funds

2

About Brewer Lane Ventures

Brewer Lane Ventures is a venture capital firm. It aims to invest in early-stage fintech and insurtech companies. The company is based in Boston, Massachusetts.

Headquarters Location

34 Farnsworth Street

Boston, Massachusetts, 02210,

United States

508-414-9070

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Latest Brewer Lane Ventures News

January Closes a $12 Million Series B to Help Americans Get Out of Debt

Dec 5, 2023

January Technologies, Inc. (“January”) has announced that it has raised $12 million in Series B financing, preempted and led by existing investor IA Ventures. Existing investors Brewer Lane Ventures, Third Prime, and Reciprocal Ventures, along with new investors such as Upper90, Shrug Capital, and numerous strategic angel investors, joined IA Ventures in the current round. The current round follows January’s $10 million Series A fundraise in 2022. January is a fintech company humanizing debt collection, helping borrowers regain financial stability while driving creditors to modernize collections. January’s debt resolution platform rehabilitates relationships with borrowers, drives net recoveries, and reduces risk. January works with leading banks, credit unions, debt buyers, and fintech lenders. Ultimately, January is building the single platform for creditors to address all of their collection and recovery needs. January has exhibited meaningful growth and established itself as a leader in the debt collection industry. Since their Series A, January has helped hundreds of thousands of Americans resolve their debt and has helped millions more move forward on their paths to financial freedom. During the same period, they quadrupled their revenues as well as their client count. January’s client portfolio includes some of the nation’s largest lenders — ranging from top-20 card issuers and banks, to publicly-traded fintechs, top-10 credit unions, and debt buyers. As they’ve signed new clients and expanded relationships with existing ones since their Series A, they’ve experienced a 5x increase in monthly accounts. The status quo in the debt collection industry creates worse outcomes for both consumers and creditors. This industry has historically been rife with harassment, trauma, and legal implications for creditors and borrowers. 70 million Americans are directly impacted by debt collection annually. More than one in four borrowers experience threatening tactics from collectors. Unsurprisingly, debt collection ranks as one of the top three most complained about sectors in consumer finance. Data is at the root of so many of the challenges that affect consumers and creditors. Poor data integrity — from outdated technology systems — introduces risk and inefficiency for creditors, while provoking poor experiences for borrowers. All of this leads to poor recoveries, inadequate compliance (e.g. lawsuits), harmed brands (e.g. complaints), and ineffective oversight for creditors. Creditors risk regulatory fines, their margins, and reputations when using traditional collection practices. As consumers increasingly struggle to pay their bills, delinquencies continue to rise, reinforcing the need for a humane solution in this space. Over the past two years, delinquencies have risen by 35% and savings rates have dropped by 54%. January envisions a world where financial recovery is a possibility for all, where the common experience of being behind on ones’ payments doesn’t lead to shame, harassment, and undue pressure. January is shaping a future in which individuals who fall behind on payments are no longer treated like criminals, because debt isn’t going away. In a field long avoided by innovation due to its reputation, January is boldly stepping forward to redefine the narrative around debt. “IA is excited to triple-down and lead January’s Series B, bringing a customer-centric collections experience to every borrower in the country and funding the business to profitability. January has proven that industry-leading recovery rates and happy borrowers is not only possible, but reliable at scale, across millions of borrowers served. We’ve worked with January for six years since leading their seed round, and have seen them outperform every expectation of the most demanding financial services brands in the country. People expect their banks to offer complete transparency, intuitive mobile and web access, and empathetic customer support available 24/7 across digital channels, and debt collection should be an extension of that experience. Legacy collections agencies treat borrowers like criminals, and January has shown that treating borrowers like customers works better. The platform is poised to scale to every creditor in the US and beyond and fix this historically broken relationship.” – Jesse Beyroutey, Managing Partner, IA Ventures. Higher quality, real time, and extensive data fuels more personalized borrower engagement and outreach, streamlines internal operations, and allows for codified rules and regulations — resulting in efficient, compassionate, and compliant collections practices. January’s third-party collection service is 150x more efficient than traditional methods and is the #1 source of debt recovery for 90% of their clients. January receives industry-leading ratings and reviews from borrowers — earning 4.8/5 Stars on Google Reviews, redefining industry standards. “January’s continued investment in our relationship has paid dividends operationally, in driving greater recoveries, and in creating a more positive borrower experience.” – Randolph Brooks Federal Credit Union “For a long time, we toiled away with the belief that treating consumers in a more compassionate manner would achieve better outcomes for consumers and creditors alike. The desire to create a better system drove our team, while we lacked statistical significance to substantiate our conviction. As our approach has touched millions of consumers’ lives, we hear weekly from borrowers expressing profound gratitude for resolving their financial challenges in a manner that upholds their dignity. The latest round empowers us to scale a new standard of compassionate collections to tens of millions more. Together with leading financial institutions, we’re not just dreaming of a more empathetic financial ecosystem. We’re actively building it.” – Jake Cahan, Founder and CEO, January From their product, to their client base, to their team, January has scaled significantly since their Series A fundraise, and the team is excited about what’s to come in 2024. Since their Series A fundraise in 2022, January has created a compassionate, effective debt resolution experience for millions of borrowers, signed leading financial institutions in the banking, credit union, fintech lending (including BNPL space), and doubled the size of their team. With this new funding round, January is focused on scaling their core product line to the largest financial institutions in the country and launching a solution to address creditors’ needs around delinquent accounts before reaching the point of charge-off. January will continue to level up the standard in debt collection, demonstrating that empathy and innovation can indeed reshape an entire industry. People In This Post Funding Fintech Event Videos News Episodes

Brewer Lane Ventures Investments

22 Investments

Brewer Lane Ventures has made 22 investments. Their latest investment was in January as part of their Series B on December 12, 2023.

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Brewer Lane Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/4/2023

Series B

January

$12M

No

2

7/25/2023

Series A

Ennabl

$10M

Yes

3

1/19/2023

Series A

iLife

$17M

Yes

5

1/9/2023

Series B

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$99M

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10

11/10/2022

Series A

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$99M

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10

Date

12/4/2023

7/25/2023

1/19/2023

1/9/2023

11/10/2022

Round

Series B

Series A

Series A

Series B

Series A

Company

January

Ennabl

iLife

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Amount

$12M

$10M

$17M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Sources

2

3

5

10

10

Brewer Lane Ventures Fund History

2 Fund Histories

Brewer Lane Ventures has 2 funds, including Brewer Lane Ventures Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

8/16/2023

Brewer Lane Ventures Fund II

$203M

1

4/22/2020

Brewer Lane Ventures Fund I

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$99M

10

Closing Date

8/16/2023

4/22/2020

Fund

Brewer Lane Ventures Fund II

Brewer Lane Ventures Fund I

Fund Type

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Status

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Amount

$203M

$99M

Sources

1

10

Brewer Lane Ventures Team

4 Team Members

Brewer Lane Ventures has 4 team members, including current Founder, Managing Partner, John Kim.

Name

Work History

Title

Status

John Kim

Founder, Managing Partner

Current

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Name

John Kim

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Work History

Title

Founder, Managing Partner

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Status

Current

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