Intellaegis, an El Dorado Hills, California-based provider of debt collection solutions which does business under the brand name “masterQueue”, as per recent reports this week, has just closed its first round of funding. The amount raised and other financial details were not disclosed.
Speaking on this, Perla Lewis, co-founder & CFO, Intellaegis, states, “To this point, we’d been self-funded by the founders and two strategic Angel investors”. Adding further, Perla says, “This allowed us to double staff and increase our year over year Q1 revenue from 2018 to 2019 by eighty percent.”
The California-based Intellaegis, also roped in Lance Suder, a Stanford grad and former entrepreneur, as its Director of Operations. “As masterQueue makes contacting customers easy, efficient and compliant, I’m proud to join their seasoned team, and we’re excited to have found an investor that shares our vision and passion,” states Suder.
The company’s debt collections tools help in recapturing delinquent loans by gathering, organizing, and tracking data analytics from dozens of data aggregators to locate customer assets. The result is a compliant debt collection that skips on manual asset tracking and repossession efforts.
The debt collection tech is in short a fintech sub-sector that many hesitate to enter, probably for its association with loan sharks. There are only a handful of successful entrants in the debt collection space, including TrueAccord, collectAI, and Global Debt Registry.