January Secures $12M in Funding to Propel Debt Relief Mission
January Technologies, Inc. secured $12 million in a Series B funding round. The fundraising effort was led by existing investor IA Ventures, with participation from Brewer Lane Ventures, Third Prime, Reciprocal Ventures, Upper90, Shrug Capital, and strategic angel investors.
January is at the forefront of humanizing debt collection. The company strives to help Americans regain financial stability while compelling creditors to modernize their collections practices. The debt resolution platform rehabilitates relationships with borrowers, drives net recoveries, and reduces risk. January collaborates with leading banks, credit unions, debt buyers, and fintech lenders to build a unified platform for creditors to address all collection and recovery needs.
Since its Series A funding in 2022, January has witnessed substantial growth. The company has played a pivotal role in helping thousands of Americans resolve their debt issues and move toward financial freedom. Notably, January has quadrupled its revenues and client count during this period.
Industry Challenges
The debt collection industry has historically been fraught with challenges. January seeks to challenge this status quo by addressing harassment, trauma, and legal implications. With 70 million Americans directly impacted by debt collection annually, January aims to provide a more compassionate and efficient solution.
January leverages data as a cornerstone to overcome challenges affecting consumers and creditors. Outdated technology systems have historically contributed to poor data integrity, introducing risks and inefficiencies. The company’s digital-first, empathetic approach to collections, powered by real-time and extensive data, is 150 times more efficient than traditional methods.
Future Prospects
After securing $12 million in Series B funding, January is positioned for further expansion. The company envisions a world where financial recovery is possible for all, devoid of shame, harassment, and undue pressure.
January’s successful Series B funding not only underscores investor confidence in the company’s mission but also positions it to play a crucial role in reshaping the narrative around debt collection, fostering a more empathetic and innovative financial ecosystem.
