ScribeUp Technologies Inc., a Venice-based fintech platform aimed at cancelling subscriptions, announced in late October it raised $13 million in series A funding. The round was led by Iowa-based Curql, with additional participation from West Hollywood-based Mucker Capital and the San Francisco venture firm Service Ventures.
The platform is designed to be integrated into any banking or fintech app and uses artificial intelligence to find recurring payments that align with monthly subscriptions. Anyone juggling several subscription services like those of long-forgotten streaming services, magazine paywalls and cloud storage can use the app to cancel or manage those payments directly within the banking app itself, instead of manually logging onto another platform to cancel it.
“Recurring payments are the most frequent interaction a consumer has with their money and the one consumers understand the least,” Jordan Mackler, the chief executive and co-founder of ScribeUp, said in a statement. “ScribeUp gives financial institutions the ability to not only surface subscriptions and bills, but to resolve them directly from their banking experience. That’s the difference between a dashboard and a relationship.”
The company works with more than 60 financial institutions, from traditional banks to credit unions.
Others in the sector
Bill management companies are nothing new. While banks have long held the keys to customers’ finances, they often lacked the ability to organize and manage its ledger of payments. Third-party budgeting companies like Mint (which shut down in 2024), allowed users to group payments into categories like lifestyle, business and entertainment.
New entrants to the sector, like ScribeUp, go one step further by allowing users to directly manage their bills within their banking app, and more banks are looking to meet the younger generation with intuitive, digitally native tools that help them interact with their own finances.
