Kloutit, a Spanish startup that is making its way with innovative, 100% automated and AI-based solutions against chargebacks, has completed its first round of funding with €540,000. With this money it invests in the future, development and evolution of its Software as a Service. After only two months since its inception, it has managed to recover more than €150,000 for its customers through its services, which has guaranteed its profits in the long term.
The round, accompanied by a number of high-level investment funds, was led by Lanai Ventures and BStartup 10. In addition to them, other prominent names such as Luis Osorio Solé (CEO of Stayforlong), Francesc López (COO of Stayforlong), Raúl Morón (CTO of Stayforlong), Axel Serena (CEO of ByeTravel), Manuel Roca (CEO of Atrápalo), Ricardo Fernández (CEO of Destinia) and Daniel Romy (founder of Simplr) have also participated in the round..
“The funding raised so far not only allows us to invest more in technology and customer acquisition, but we have also been able to surround ourselves with investors, whose experience and knowledge can bring a lot to the project with their ideas and feedback.“, says Albert Algarra, CEO of Kloutit, confident about the future of the startup after the funding round.
Solutions to combat chargebacks in an agile way
Now the startup aims to continue the development of its software actively, improving the tool weekly with new functionalities and implementations with third parties. They will be able to add payment processors and other parties involved in the sales process of their customers as their next step. This will reinforce and improve their current success rate, which stands at 80% success rate in defending chargebacks to companies.
Instead, its main objective is to further develop a comprehensive chargeback prevention tool. Its aim will be to help its clients avoid a large part of avoidable chargebacks with a comprehensive data analysis that would predict whether a transaction is at risk of turning into a default.
“Kloutit brings together all the ingredients we look for in an investment. Its founding team combines a deep knowledge of the problem, as Albert was responsible for this issue at Stayforlong, and the technological and strategic expertise of Adrián and Alexis, who complete an exceptional team. We are proud to lead this round alongside leading investors such as BStartup and industry experts, including executives from Atrápalo and Stayforlong, who bring even more validation and confidence in the project’s potential.”, said Diego Camilleri, General Partner of Lanai Ventures.
Kloutit will continue to progress the development of its AI and with the recent official launch of its services will grow organically in the coming months. Its next step will be the start of pilot tests with several internet giants such as Atrápalo.