Dublin-based startup Webio has today announced a series A funding round, worth $4m, led by Finch Capital.

The company, which delivers credit, collections and payments using AI, said it is ready to scale-up after the digital shift during Covid and the uncertain economic climate.

Established in 2016, Enterprise Ireland and EIT were early backers of Webio who now has customers spanning financial services, online retailers and utility companies across the UK and Europe.

Irish and UK brands like The Very Group, Studio Retail, Hoist Finance, DCBL, NCO Europe and Anglian Water use the company's services.

"Conversations about money are stressful and difficult, not only for the customer but also for agents tasked with having these conversations," Cormac O'Neill, co-founder and CEO of Webio.

"Going digital means companies can create a whole new set of digital experiences that help customers feel more confident in having those difficult conversations and ultimately, stop them from falling into unnecessary and significant financial difficulty," the CEO said

"And we are excited that Webio's conversational AI is enabling companies to engage with customers in a more empathetic manner, at scale," he added.

Mr O'Neill said that the company is growing at more than 100% year on year, and is targeting to double its headcount with this investment in the next six months.

"I am confident that Webio will maintain its rate of growth and may look to raise additional capital to enter new markets. There are very exciting times ahead for us. We are certainly in the right market and at the right time. All I can say is watch this space," the CEO said.