Women-led angel investment group, Mint Ventures, has provided funding to Inicio AI, the financial support company based in Scotland and the Midlands.

The strategic partnership looks to aid the AI company in its next phase of product development as the AI landscape continues to transform.

Led by CEO Rachel Curtis, the Inicio AI uses AI to support those struggling with debt.

The investment, which has not been disclosed, reflects the shared commitment between Mint Ventures and Inicio AI to push the boundaries of innovation, promote women investors and founders, and advance social purposes.

Inicio AI plans to use the capital to promote its early client success, where it saw an increase in engagement rates from debtors by 30%, allowing the business to scale and support more consumers through theirB2B software platform.

Gillian Fleming, CEO of Mint Ventures, said: “We are extremely pleased to be supporting Inicio AI to take them to the next level and align our members collective expertise as well as bring more diversity to the investment base.”

Gillian Fleming, CEO of Mint Ventures, said, as reported by Daily Business Group: “We are extremely pleased to be supporting Inicio AI to take them to the next level and align our members collective expertise as well as bring more diversity to the investment base.”

Rachel Curtis, CEO of Inicio AI, as reported by DBG, added, “The partnership brings so much more than just the investment, I now have the counsel, support and backing of an amazing group of women that bring such relevant and timely experience to our journey.

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“Alongside our investment from Morgan Stanley Inclusive Ventures Lab, I’m seeing the investment landscape change, with key organisations finding ways to improve the woefully low levels of funding that currently go to female founders.”

She added: “The idea for Inicio came out of consumer research, where we could see that customers were really struggling with taking the first step to resolving their debt.

“Our new approach to debt support works for borrowers and lenders alike, ensuring it is efficient, fair and removes the barrier of shame that people feel when talking to humans about their debt.”