Debt collection solutions company Intellaegis, which does business under the name masterQueue, is marking its first round of funding today. The amount of the investment is undisclosed.
“To this point, we’d been self-funded by the founders and two strategic Angel investors,” said Co-Founder and CFO Perla Lewis. “This allowed us to double staff and increase our year over year Q1 revenue from 2018 to 2019 by eighty percent.”
The company has also brought on Lance Suder, a former entrepreneur and Stanford grad, 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,” said Suder.
masterQueue’s debt collections tools help recapture delinquent loans by gathering, organizing, and tracking big data from dozens of data aggregators to find customer assets. The resulting workflow facilitates compliant debt collection, skip tracing, and repossession efforts.
Debt collection technology is one of the lesser-heralded sub-sectors of fintech. Perhaps startups are hesitant to enter the space because of its associations with loan sharks. We have, however, seen a handful of successful entrants in the space, including TrueAccord, collectAI, and Global Debt Registry.
Headquartered in California, Intellaegis demonstrated masterQueue’s debt collection workflow at FinovateSpring 2011. John Lewis is president and CEO.
In the same way that celebrities examine the memoirs of other celebrities to see if and how frequently their names are mentioned, I admit my first thought upon seeing American Banker’s roster of “20 Fintech Companies to Watch” was: “How many Finovate/FinDEVr alums?!”
American Banker’s “20 Fintech Companies to Watch” feature is a part of Fintech Forward, its collaboration with BAI. The goal of the partnership is to “identify the forces and trends that are motivating banks’ technology investment.”
Companies for the list were selected by a panel of judges from American Banker, BAI, Citi, Santander, and Rockland Trust, who focused on three criteria:
Does a company offer innovative technology?
Does it solve a real business problem?
Is it ready for prime time?
So with the bar set, here are the Finovate alums that made the cut.
There are many ways to describe the innovators in financial technology.
And thanks to Intellaegis, we can add “fugitive catcher” to the list.
The El Dorado Country District Attorney’s office in California sought out the services of hometown technology company, Intellaegis, to help them find an elusive fugitive who had been on the run for years.
Watch the news report from the CBS Sacramento affiliate.
According to the report, masterQueue was able to track the fugitive’s data footprints as she traveled across the country to states as distant as Michigan, California, and Florida. The fugitive had been on the run for three years. masterQueue was able to track her down in five minutes.
Intellaegis was founded in 2009 and is headquartered in El Dorado Hills, California. The company debuted masterQueue in 2011 as part of FinovateSpring in San Francisco. See the company’s presentation here.