Charm Solutions, a startup that uses AI to power SMB credit advisors, has raised USD 3.5 million in a seed round that was co-led by BootstrapLabs.
According to Charm, its SMB credit advisor service uses self-learning AI to assist institutional lenders in transforming data into insightful knowledge that will help SMBs and drive profitability. Many lenders still access borrower information manually using tools like emails, PDFs, and spreadsheets, which can take more than a week to gather financial data.
Charm Solutions will be made available to lending institutions via the SageWorks platform with the partnership the company recently formed with Abrigo, a provider of compliance, credit risk, lending, and asset/liability management technology.
Read More: AI-powered SMB credit advisor raises $3.5m
