Investors include serial fintech investor Mark Ransford, Atomico angels Joe Cross (ex-Wise), Russell Smith (ex-Monzo), Michael Tefula, A16z scout Keith Grose (ex-Plaid), and ex-TechCrunch journalist Steve O’Hear. Techstars and Angel Invest Ventures also participated.

On a mission to transform the consumer credit landscape, Incredible enables users to track, manage, and repay their credit card debts through an intuitive mobile app. Powered by Open Banking and Artificial Intelligence, the platform consolidates debt across multiple credit cards and suggests and automates the most cost-effective way to pay off balances.

Features include Roundups, which converts spare change into interest savings, and IncrediPay, offering a single consolidated monthly payment covering all repayment needs.

Despite advancements in nearly every facet of financial technology – from crypto trading to instant payments – credit management remains outdated. The problem is significant, with the average UK household having over £70,000 in debt. Research from debt charity StepChange reveals that 18 million Brits are in debt and seeking support, but many are not in payment arrears and therefore not eligible for formal support solutions.

“Incredible aims to make managing credit cards and loans simple for everyone, not just for those with financial acumen.” said Incredible's Founder and CEO, Yaseen Rostom. “We’re committed to redefining how consumers engage with credit, converting what’s often seen as a burden into a manageable, even empowering, part of their financial lives."

Since the company's iOS and invite-only Beta launch in summer 2023, Incredible has garnered thousands of signups and helped consumers reduce their interest payments, enabling them to escape the cycle of debt faster than existing solutions. The platform currently assists users in managing over £2 million in credit card debt.

Looking ahead, Incredible plans to encompass the full spectrum of credit products – from loans to car finance, BNPL to mortgages. By leveraging AI, the platform will help users refinance at lower interest rates and reduced fees. This not only saves consumers money but also improves repayment behaviour, positively impacting their credit scores and overall credit health.

Incredible is developed by a team of fintech operators with extensive experience at consumer-centric brands such as Monzo, Etsy, Lean Technologies, and Starling.

Comments angel investor Joe Cross, previously Global Head of Marketing & Comms at Wise: "As someone who has been closely following the fintech space, it's clear that the credit management sector has been woefully underserved. The Incredible team is building a transformative solution that consumers desperately need – combining intuitive design with cutting-edge technology to empower people to regain control of their financial lives.”