Incredible, a London-based FinTech startup, has secured $1 million in pre-seed funding to enhance consumer credit management.
The investment round included notable FinTech figures such as serial investor Mark Ransford, Atomico angels Joe Cross (formerly of Wise) and Russell Smith (formerly of Monzo), Keith Grose (A16z scout and former Plaid executive), and Steve O’Hear (former TechCrunch journalist). Institutional investors Techstars and Angel Invest Ventures also participated.
Incredible’s mobile platform leverages Open Banking and AI to help consumers manage and automate credit card debt repayments, consolidating debts and potentially lowering interest payments through features like Roundups and IncrediPay. The funds will be used to launch Incredible’s platform and mobile app, expanding its range to cover credit products like car finance, loans, buy-now-pay-later schemes, and mortgages.
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CEO Yaseen Rostom emphasized Incredible’s mission to simplify credit management for all users, aiming to transform credit from a burden into an empowering financial tool. The platform’s successful iOS and invite-only Beta launch in summer 2023 has already assisted thousands in reducing interest payments and managing over £2 million in credit card debt.
Joe Cross highlighted the sector’s underserved nature and praised Incredible’s innovative solution for empowering consumers to regain financial control, combining intuitive design with advanced technology.
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