Total amount raised
$22 Millions
Latest funding date
12/01/2023
Location
January has successfully raised funds through a Series B round, with notable investors including IA Ventures and Brewer Lane Ventures. The company leverages AI to maximize recoveries for creditors, improve consumer outcomes, and ensure compliance.
Keep reading to explore the intricacies of January's fundraising journey and the investors backing this innovative platform.
What Is January?
January, founded in 2016, is a New York-based company specializing in consumer lending, credit, financial services, and fintech. The company was established by Jake Cahan and currently employs between 51 and 100 people.
January aims to humanize the consumer debt collection industry by leveraging AI to improve financial outcomes for both creditors and consumers. The company offers a tech-enabled debt collection platform, automated compliance safeguards, and personalized debt collection processes, ensuring a digital-first borrower experience.
How Much Funding Has January Raised?
- Series A
- Amount Raised: $10M
- Date: March 2022
- Lead Investors: Brewer Lane Ventures, Third Prime
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of January’s platform, which has since helped hundreds of thousands of Americans resolve their debt and significantly increased the company’s revenues and client count.
- Series B
- Amount Raised: $12M
- Date: December 2023
- Lead Investors: IA Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To be used for new product development, market expansion, and furthering January’s mission to facilitate the empathetic resolution of written-off and past-due debt. The company also plans to scale its core product line to the largest financial institutions in the country and launch a solution to address delinquent accounts before they reach the point of charge-off.
Total Amount Raised: $22M. Current Valuation: Not publicly disclosed.
Key Investors
- IA Ventures
- Details: IA Ventures is a venture capital firm that led January's $12 million Series B financing round. The firm focuses on investing in early-stage companies that are innovating in the fintech space.
- Investment Focus Areas: Fintech, data, machine learning
- Notable Investments: The information about notable investments is not available.
- Brewer Lane Ventures
- Details: Brewer Lane Ventures is an existing investor in January, having participated in both the Series A and Series B funding rounds. The firm specializes in investing in companies that are transforming the financial services industry.
- Investment Focus Areas: Insurtech, fintech, digital health
- Notable Investments: The information about notable investments is not available.
- Third Prime
- Details: Third Prime is a venture capital firm that participated in January's Series A funding round. The firm focuses on investing in early-stage companies with high growth potential.
- Investment Focus Areas: Fintech, real estate, healthcare
- Notable Investments: The information about notable investments is not available.
- Reciprocal Ventures
- Details: Reciprocal Ventures is an existing investor in January, having participated in the Series B funding round. The firm invests in companies that are leveraging technology to create new financial products and services.
- Investment Focus Areas: Fintech, blockchain, AI
- Notable Investments: The information about notable investments is not available.
- Upper90
- Details: Upper90 is a new investor in January, joining the Series B funding round. The firm provides hybrid growth capital to companies that are scaling rapidly.
- Investment Focus Areas: E-commerce, fintech, logistics
- Notable Investments: The information about notable investments is not available.
What's Next for January?
January is poised to capitalize on significant opportunities, including new product development and market expansion. With $12 million in Series B financing, the company plans to scale its core product line to the largest financial institutions and launch solutions to address delinquent accounts before they reach charge-off.
Future fundraising opportunities seem promising, given January's rapid growth and ambitious plans. The company may seek additional funding to support further development and market penetration, potentially attracting more investors.
However, challenges such as scaling operations, maintaining growth momentum, and navigating regulatory issues could pose hurdles. Successfully addressing these challenges will be crucial for January's continued success and expansion in the fintech industry.
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