These startups are using technology to help make debt collection more consumer-friendly and efficient.
No one likes debt collectors.
Today, one in four consumers contacted by debt collectors feel threatened, and a majority say the calls continue even after requests to stop, according to a 2017 study by the Consumer Financial Protection Bureau.
While no one is ever going to be happy to hear from a debt collector, their outdated techniques aren’t doing the companies any favors either. As a result, collection rates suffer. Now, startups are emerging around the world to help automate and simplify debt collection processes.
Using CB Insights’ data, we identified 20+ startups using technology to manage receivables and automate debt collection.