Maven Capital Partners has led a £2.2 million funding round in Connected Data, a Nottingham-based data-driven technology company.
Founded by former Experian and TDX executive Kirk Fletcher, Connected Data was established to revolutionise the way debt is managed by organisations across various industries, including utilities, financial services, local government, and debt management services.
Alexander Sleigh, Investment Director at Maven, said: “With the cost of living crisis driving household debt to new heights, and stricter guidelines coming into play, companies are under increasing pressure to refine their debt collection processes. Connected Data has already proven its value for clients by reducing the time, cost and complexity of debt management while increasing confidence in data accuracy and recovery rates. We are excited to work with Kirk and his team to further scale the business and explore new growth opportunities.”
Connected Data’s cloud-based data services combine the latest business intelligence, analytics, and AI with the widest range of predictive data solutions to transform the entire debt management process. Its services help organisations reduce, resolve, and prevent debt with minimal internal resource impact, while also enabling clients to meet evolving consumer protection regulations. This approach paves the way for fairer, more positive outcomes for consumers in debt.
Since its inception in 2020, Connected Data has experienced rapid growth, with revenues increasing eightfold between 2022 and 2024.
Kirk Fletcher, CEO at Connected Data, concluded: “Across all sectors, organisations are facing increased pressure on their debt management processes. Our unique approach, our data partnerships and our range of configurable data services have enabled the organisations we work with to truly transform their debt management process to become more effective without the need for significant capital investment or long extended delivery times. This investment will enable us to further drive our transformation of the debt management process. We are hugely excited by the impact this will have on our customers, our data partners and, ultimately, consumers in debt.”
Image by No-longer-here from Pixabay
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