Canada-based Symend secures USD 52 mln funding to help at-risk customers

Friday 8 May 2020 13:49 CET | News

Symend, a Canada-based digital engagement platform, has raised USD 52 million to identify customers having trouble with their bills to keep them from defaulting.

The investing round is being led by Canadian VC Inovia Capital, with participation from Ignition Partners, Impression Ventures, BDC Capital’s Women in Technology Fund, Mistral Venture Partners, and angel investor Markus Frind. According to TechCrunch, this latest round is a significant boost on the amount it raised previously, which was just USD 8 million, in a mix of Canadian and USD. 

Symend builds behavioural analytics into customer engagement products to identify customers having trouble with their bills, and then suggests alternatives to keep them from defaulting altogether.

The company does not disclose a lot about how it works, however, according to the online publication, the data that it uses to help assess customers comes from a variety of places, starting with the business itself and sometimes including third-party resources.

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Keywords: Symend, online payments, transactions , behavioural analytics, AI, defrayed payments, payment holidays
Categories: Payments & Commerce
Countries: Canada
This article is part of category

Payments & Commerce