Dublin AI start-up Webio raises €1.5m for credit collection service

Company uses artificial intelligence to reduce potential for conflict between creditors and the customers that owe them money

Cormac O’Neill, Webio’s chief executive and founder, said the investment is ‘another step in our strategic development plans to fundamentally change how this sector works’

Webio, a Dublin-headquartered tech start-up which uses AI to make collecting debt less adversarial for companies and customers, has raised €1.5 million in a Series A funding round.

The round was led by Finch Capital, an early-stage venture capital fund with offices in London, Amsterdam and Singapore, which invested €500,000 in Webio.

The company said it will use the funding to accelerate its growth in the AI area, as well as on recruiting new staff.