.gif)
Cerebreon the Irish deep learning startup raises £1.5m in seed funding
by Startacus Admin
£1.5m seed funding raised by innovative startup that's helping to predict and prevent insolvency...
Good news for Cerebreon, the insolvency technology startup with the announcement that they have raised £1.5m in seed funding in a bid to scale support to the UK's most vulnerable consumers to avoid bankruptcy. 
The Irish startup is working with consumers, financial institutions and insolvency practitioners, to deploy their deep learning platform to help predict and prevent insolvency ahead of time.
Gillian Doyle, Cerebreon CEO, said, "Our mission is to support the most vulnerable people in society to help them to avoid insolvency. Unsecured personal debt was measured at £3.6Bn - with the COVID-19 outbreak UK families are taking on increasing levels of debt to survive."
She went on to say, "By supplying data, debt insight and insolvency predictions to creditors as well as the insolvency industry, we can have a direct and positive effect on financial wellbeing and ultimately survival as a result of breaks in family incomes."
Since being selected to take part in Accenture's Fintech Innovation Lab, the startup has had unrivalled access to key staff in some of the largest financial institutions.
Former BlackRock Managing Director, Scott Condron, commented, "Cerebreon has identified how digitization and data can be used to fundamentally alter the outcomes for debt distressed consumers, allowing more to emerge from insolvency and increasing recovery rates for creditors. Tech for good in action."
The £1.5m seed round was led by Delta Partners and supported by HBAN/private Angels, Western Development Commission, Consilience Ventures and Growing Capital.
Kevin Monserrat, Founding Partner at Consilience Ventures, commented, "The current financial crisis makes Cerebreon one of the most important and relevant tech platforms and we are proud to support the acceleration of their support to UK consumers in debt."
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
6 month membership to the Clockwise Belfast Club Lounge up for grabs for 1 NI startup - a fab prize worth up to £1,200!
Cork-based digital health startup Gabadoo announced as finalist in the 2021 Technology Ireland Awards
The lowdown on Diversely, the London-based HR-tech startup that helps to reduce unconscious bias thanks to its AI recruiting tools
Never forget someone's birthday again thanks to Prsnt, the gifting app that enables users to source and send instant presents via text!
West Cork-based startup Riley launches crowdfunding campaign to support growth of its eco-friendly period product service and hits six figures in less than 24 hours
.jpeg)
Business in the hospitality sector? Erik Wolf, founder of the World Food Travel Association shares some great advice and tips on adapting to the new normal...
.jpeg)
Raising capital for your business? Oliver Woolley, CEO and co-founder of Envestors shares insights on the real costs of doing just that...
Flexible childcare provider Bubble offering parents and carers in Greater London startups the opportunity to avail of £1000 of free childcare credits.
Small business and still a little unsure about importing and exporting to the EU? Glen Foster, small business director, Xero shares some guidance...
Innovative digital talent sourcing and on-boarding platform Gigged.AI secures investment to support further product development and team expansion
Published on: 31st March 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Deeptech software startup fund launched by Lunar Ventures 15th Oct 2021 A €40M first fund has just been launched by Lunar Ventures to support the next wave of European DeepTech Software startups
- London-founded fintech 9fin Raises £8M Series A 13th Oct 2021 Innovative Debt Capital Markets Intelligence Platform, 9fin secures major funding to support its expansion into the US market
- Future of Work and Workplace Solutions sought for all-island Irish Startup Pitch Comp 8th Oct 2021 Showcase your innovative workplace solution at the Work: In Progress startup pitch competition taking place during the Work: In Progress event on 10th November.
- French startup Cala Announces €5.5M Seed Round 6th Oct 2021 Cala's mission to innovate the catering sector continues as it secures funding boost to support expansion of its fully autonomous restaurant chain
