Behaviour analytics firm Symend raises $52M to help mediate when customers are at risk of defaulting on payments

Source: TechCrunch

With unemployment growing at a worrying rate (in North America), we’re seeing a lot more people finding themselves in hot water when it comes to their finances. Today a startup that’s built a platform to help identify and help those users when they find themselves unable to make payments is announcing a very large growth round of funding to meet new demands for its services.

Symend, a Calgary, Canada-based company that 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, has picked up $52 million in funding, a growth round that it will be using to help it handle a massive boom in its business.

The company has been around since 2016 and has to date “treated” (its term for customers that it has touched and interacted with) some 10 million customers, on behalf of its enterprise clients. But its current funnel is such that CEO Hanif Joshaghani, who co-founded the company with Tiffany Kaminsky (the chief strategy officer), estimates that they will have treated 100 million customers by the end of this year.

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Symend raises $52M to help mediate when customers are at risk of defaulting on payments

With unemployment growing at a worrying rate, we're seeing a lot more people finding themselves in hot water when it comes to their finances. Today a startup that's built a platform to help identify and help those users when they find themselves unable to make payments is announcing a v...