Spanish AI-driven debt collection company Murphy obtains $15 million in funds
### Murphy's AI-Powered Debt Collection Solution Takes Strides in Global Expansion
Murphy, a Spanish AI debt collection startup founded in 2024, has raised $15 million in pre-Seed and Seed funding, signalling a growing interest in AI-powered services within the financial sector. The investment round was led by Northzone, with ElevenLabs, Lakestar, Seedcamp, and existing investors also participating.
Murphy's unique offering lies in its AI-powered voice agents, capable of multilingual, empathetic, and behavioural interactions. These agents provide human-like, 24/7 voice interactions across over 30 languages, revolutionising the debt collection landscape. The company's platform combines AI voice agents with omnichannel outreach and behavioural personalisation, aiming to replace traditional call centres and improve debt recovery rates while maintaining compliance and treating debtors with respect.
With the new funding, Murphy plans to scale its AI-powered debt collection platform, expand its teams, and further disrupt the $300 billion global collections industry. The expansion into the US market is a strategic move to further solidify its position in the global collections industry.
Northzone Partner Jeppe Zink expressed his confidence in Murphy's team, stating that they are well-equipped to transform the debt servicing industry. He believes that debt servicing, a $300+ billion global industry, is ripe for disruption, and AI can make a significant impact in this space.
Murphy's technology has already been adopted by major financial institutions, telecommunications providers, and utility companies worldwide. The company is managing hundreds of millions of dollars in debt, demonstrating superior recovery rates and reducing operational costs compared to traditional methods. The startup aims to bring a human-like nuance to conversations that can scale without adding labor costs.
As part of a larger wave of AI-powered services in the financial sector, Murphy is poised to transform the debt servicing industry due to its relentless development speed. The company's AI agents offer a more efficient and cost-effective alternative to traditional debt collection methods, recovering debt that would have otherwise been untouched or written off.
Investors are pouring money into AI-powered services in the financial services space, anticipating that AI-native vertical SaaS companies like Murphy will replace legacy systems in high-friction industries such as collections, compliance, and insurance. The investment in Murphy underscores this growing trend, highlighting the potential for AI to revolutionise the debt servicing industry.
Businesses worldwide are increasingly turning towards AI-powered solutions, and finance is no exception. In this context, Murphy, a Spanish AI debt collection startup, is making significant strides in global expansion, thanks to a $15 million investment. This funding will help them scale their AI-powered platform, enhance their AI-powered voice agents across multiple languages, and further penetrate the $300 billion global collections industry – including the US market.
