The Cambridge-based fintech will use the funding to expand its software, which helps banks and credit unions identify, manage and cancel recurring payments for customers.
ScribeUp has raised $13 million in a Series A funding round as it seeks to expand a service that helps financial institutions give customers more control over the subscriptions and other recurring charges that now shape everyday spending. The Cambridge, Massachusetts-based company said the new capital comes as banks, credit unions and fintechs look for ways to make digital banking more useful and more proactive for customers. According to ScribeUp, the platform already works with more than 60 financial institutions.
The round was led by Curql Collective, a fintech investment firm focused on credit unions, with participation from Mucker Capital and Service Ventures. ScribeUp said the financing combines $10 million in equity and a $3 million venture debt facility, and that the money will support hiring, product development and sales efforts. Nick Evens, president and chief executive of Curql, said in a prepared statement that financial institutions want digital banking tools that are more closely tied to customers’ day-to-day lives, rather than leaving that relationship to outside consumer apps.
At the core of the company’s pitch is the idea that modern consumers are surrounded by automatic payments, from streaming services and payment plans to rent and insurance, and often struggle to keep track of them. Co-founder Jordan Mackler said people “really have no chance” of monitoring everything on their own. ScribeUp’s software is embedded inside a financial institution’s app, where it can identify recurring payments, help users cancel unwanted services, update payment methods and flag situations where an upcoming bill might push an account into the red.
Mackler said the company’s origin story began at the Massachusetts Institute of Technology, when he tried to introduce fellow student and future co-founder Yohei Oka to American football. Oka subscribed to YouTube TV and ESPN+, then forgot about the services as schoolwork piled up, and about $350 had already been taken from his account. That experience, Mackler said, exposed how poorly many consumer tools were built for an economy built on auto-renewing charges.
Founded in 2020, ScribeUp has expanded its technology as agentic artificial intelligence has become more practical. The company said it has moved from tracking only the most common merchants to identifying roughly 200,000 unique subscription billers, and part of the new funding will be used to improve that capability. That positions ScribeUp in a crowded corner of financial software, but one that banks and credit unions increasingly see as important as they compete to offer more helpful, embedded money-management features.
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