Cushion, a fintech company that uses A.I to make the process of paying bills quick, easy, and reliable, announced it raised $12 million in a Series A financing. The funds will support its plans to transition from its current operation as an automated bank and credit card fee negotiation firm, to a one-stop resource for tracking, paying, and financing bills, helping customers avoid bank overdraft and late fees. The $12 million will also be used to expand personnel in product development, engineering, data analytics, and marketing, as the company prepares to launch its bill payment system, which is now in beta. Cushion’s round was led by Rose Park Advisors with additional participation from Flourish Ventures, Vestigo Ventures, The Social Entrepreneurs’ Fund, Green Cow Venture Capital, and Discovery Fund. Customers can connect their banks and credit cards to Cushion’s where its machine learning models can then identify all of the user’s regular bills, including leases and subscriptions.
Bill Pay Fintech Cushion Gets $12M Series A Financing