Symend, a customer engagement platform designed to engage and retain financially at-risk customers, announced a $52 million funding led by technology venture firm Inovia Capital.
, A consortium of investors including Ignition Partners, Impression Ventures, BDC Capital’s Women in Technology Fund, Mistral Venture Partners, and angel investor Markus Frind also participated.
Symend has treated over 10 million at-risk customers through its digital engagement platform and is on track to treat 100 million by the end of 2020.
Symend’s digital engagement platform combines behavioral science, AI, and machine learning to deliver insights into the customer’s situation and behavior, providing evidence-based recommended actions.
Symend will be using the money to invest heavily in development of their digital engagement platform, expand into new verticals and geographies, and grow the team across Canadian and US operations.
“We created Symend to help individuals who have fallen behind on payments and treat them with understanding at a time when they need it most. Our solution transforms how companies think about and interact with at-risk customers,” said Hanif Joshaghani, co-founder and CEO of Symend.