Avtal, an Austin-based provider of digital engagement solutions, pulled in $24 million in seed and Series A funding led by S3 Ventures with participation from NJP Ventures. The company helps debt collection agencies engage consumers effectively while maintaining compliance with consumer protection regulations.
“Consumers increasingly expect to resolve financial matters on their own terms,” Khaled Bitar, Avtal CEO, said in a statement. “Avtal helps agencies meet that expectation while staying compliant and improving recovery performance. With S3 Ventures’ and NJP Ventures’ partnership, we’re excited to scale our platform and continue to deliver a best-in-class consumer experience.”
Avtal’s white-labeled platform enables agencies to reach consumers via text, email and digital payment portals to resolve accounts quickly and transparently. This digital-first approach allows agencies to scale outreach, reduce operational costs and deliver a more consumer-friendly experience while increasing their recovery rates. Avtal’s new capital will go toward expanding its engineering team and accelerating product development.
