YC-backed Cambio puts AI bots on the phone to negotiate debt, talk to a bank's customers

Cambio, a startup backed by Y Combinator, is using AI to negotiate debt collections on behalf of consumers and assist banks with sales calls. The company initially offered an AI-powered service to help consumers resolve their collections and raise their credit score. Now, it's offering this technology to banks and credit unions as an API. Cambio's AI bots listen in on calls with debt collectors, guiding consumers on what to say, and can even handle the calls on their behalf to negotiate the debt down.

The company is also developing AviaryAI, an AI that can be used by banks and credit unions to call their customers for sales and outreach. Despite recent FCC regulations against AI-initiated robocalls, Cambio believes its AI bots will be permitted and is working with legal counsel to ensure compliance. The company has raised a $3 million seed round from various investors to support its growth.

Key takeaways:

Cambio, a startup backed by Y Combinator, is using AI bots to negotiate debt collections on behalf of consumers and assist banks and credit unions with sales calls.
The company's service has reached nearly 90,000 users and has shifted from a freemium to a paid business model.
Cambio has developed an AI, called AviaryAI, that can be used by banks and credit unions to call their customers for sales and outreach purposes.
The company has raised a $3 million seed round of funding from various investors, including Builders, DVC, EGR Partners, and Goodwater Capital.

YC-backed Cambio puts AI bots on the phone to negotiate debt, talk to a bank's customers | TechCrunch

Key takeaways:

Comments (0)

Newsletter