Debt Tech Startup has announced that it has announced $ 31 million in funding

San Francisco – (Business Wire) -Bright money, a Artificial intelligence (AI) Financial Forum Powered by the unique MoneyScience ™ algorithm, it has received $ 31 million in support from renowned angelic investors from Sekoya Capital India, Falcon Age Capital and Hummingbird Ventures, including Ram Shriram (alphabet board member and founder of Sher Raplo Venture).

Bright money will help Americans control their debt and start building real wealth through a well-designed financial plan. With its algorithm, Bright Money performs all data collection and financial planning for each user. Bright money uses thousands of points from the user’s financial life to build the best way for financial security when it comes to the user’s daily financial activities. It works to make banks and lenders smarter, so every bright user will always benefit from the best decisions they make for their money.

The Bright Money Forum is designed to help Americans move forward and achieve their dreams. It focuses on building real wealth, getting people out of debt, improving their credit score, and growing savings. On average, users pay more than $ 2,200 a year in credit card debt by using the platform, saving $ 750 in fees and interest payments, and increasing their credit score by 30-100 points.

The platform is primarily for hard-working, middle-income Americans — individuals between the ages of 25 and 40 earning $ 50,000 to $ 100,000 a year. These Americans have been underpaid by banks and even recently by neo-banks. Unlike existing services and products, Bright Money does not offer many loans or a single product to consumers. Bright Money offers a highly personalized plan that responds and adapts to each user’s changing finances, as well as clever debt payments that reduce debt and allow many Americans to build wealth faster on their own.

Bright Money was co-founded by Avi Patchava, an information scientist and Oxford University graduate with ten years of experience using algorithms to solve consumer problems; And Petko Plachkov, a veteran and serial entrepreneur who has successfully built and balanced financial products for millennium consumers over the past decade.

Patchava As we begin to build a bright future in 2019, we are launching a unique information science-based system to help Americans manage their finances and manage their debt. ” The A series of financial support we have received will enable us to take our platform to the next level by providing a journey of change for users to truly increase their financial destiny. We want to give people real results – not just any other financial product. This is just the tip of the iceberg when it comes to using the power of data science to drive personal finances.

Bright Money has brought together a team of more than 100 financial scientists – expert information scientists and AI engineers from research centers around the world in the fields of finance, consumer technology and adtech. He spent two years building MoneyScienceTM Platform (34 unique AI algorithms) from the ground up to provide unique financial planning and insights to users. Bright Money Technology allows for highly personalized and customized financial plans, especially provided by financial advisors only to the wealthy.

“We have designed Britain to meet the financial needs of middle-class Americans without hidden costs and costs,” Plachkov said. “Bright is only $ 15 a month – affordable for everyone. So you can get brightnessFor your money algorithm, at a lower price than Netflix. Most Americans live well, but they are poorly served by one-size-fits-all traditional financial institutions and fintech. When more than 30,000 people see the results in the forecast, we know that we are building a platform for people’s money in the future.

“Brazil has invested in a technology-led solution to help consumers manage their finances and reduce debt,” Siriram said. Consumer debt and savings are ripe for innovation to provide real value and convenience to consumers who want to improve their financial lives.

For $ 15 a month, users have access to all the tools on the bright money platform, educational resources – MoneyScience School – and 24/7 customer support by phone, email and chat. With offices in San Francisco, London and Bangalore, Bright Money currently has 150 members of the Data Science and Customer Service team, and to learn more about Bright Money,

About bright money

Bright Money A Artificial Intelligence (II) Financial Forum Developed by a unique MoneyScience ™ algorithm designed to help Americans control their debt and start building real wealth. Bright Money technology allows all users to access highly customized financial plans – typically only from financial planners who spend thousands of dollars – to pay off credit card debt, build their credit score, and start saving. Bright money provides results to consumers, with the average customer paying $ 440 in debt in the first three months and saving $ 750 a year in interest. Bright Money Innovation Forum has managed hundreds of thousands of debts and has helped more than 30,000 Americans to date. Bright Money In 2019 by Avi Patchava, Leader of the I Industry; And Petko Plachkov, entrepreneur of a series of financial services; And it has teams in San Francisco, London and India.

MoneyScienceTM, Bright Money Innovation AI Forum uses thousands of data points on each user’s financial life and 34 algorithms to build the most customized financial plans for users. The MoneyScienceTM The system has been under construction for more than two years, combining IA and machine learning professionals from the ground up, combining basic financial technology with best practices in other industries (adtech, entertainment, robotics and industrial automation). The results are simple, understandable and highly effective plans tailored to each individual: personalized for each user. Currently, such detailed plans are available only to professional financial planners who pay thousands of dollars for such services.

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