SuperFi, a debt prevention platform aiming to support people through the rising cost of living, has raised €1m (£780,289) in pre-seed funding.
Based in London, SuperFi is a debt management fintech that gives users an overview of their arrears and analyses their financial circumstances.
“We believe that debt management should be proactive, not reactive. Our goal is to help millions of people struggling to pay their bills and credit commitments better manage their debt before it becomes a crisis,” said Tom Barltrop, co-founder of SuperFi.
“In doing so, we believe we can help British people during the cost of living crisis – saving businesses and society billions associated with problem debt.”
SuperFi is seeking regulatory authorisation through the Financial Conduct Authority (FCA)’s innovation sandbox.
The pre-seed round was led by Ascension and included Force Over Mass and a host of angel investors.
“We are thrilled to be supporting SuperFi in its mission to tackle the UK’s growing debt crisis and improve financial well-being for individuals and communities,” said Emma Steele, a partner at Ascension.
“With over £1.6tn in personal debt in the UK alone, the scale of the problem is massive, and SuperFi’s innovative platform is uniquely positioned to address it through a partner-based business model that remains on the consumers’ side as the business scales. We look forward to helping the team achieve their vision.”
Last year, SuperFi received part of a £960,000 investment pool from the VC firm Antler.
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