UK-based fintech Rimilia has raised USD 15 million for its technology that automates payments.
Rimilia, a fintech firm founded in Bromsgrove in 2008 which uses artificial intelligence to automate payments has raised money in a growth round involving a string of existing investors, including Eight Road Ventures, a UK-headquartered venture capital company that was an early backer in Chinese e-commerce giant Alibaba, Silicon Valley Bank and Kennett Partners.
The company uses artificial intelligence to help clients speed up the usually laborious and manual work required to process payments from customers. In 2019, its technology help automate the collection of GBP 110 billion (USD 145 billion).
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