Our customers were already asking us, 'Hey, could you ask the AI so that when you go out after a debt, could you offer this person, I don't know, "x" product or '"x" service?" Camhi told TechCrunch. "We were able to do it, and it was a very great experience. We realized that what we were building was not a collection system but a communication and engagement tool."
Camhi said the company had annual recurring revenue (ARR) of about $20,000 right before it pivoted, but since March, that number has surged: Vambe closed November with ARR of $1 million.
To capitalize on this fast growth, Vambe recently raised a $3.85 million seed round led by Brazil-based VC firm, Monashees, with participation from Mexico-based investor Nazca and U.S.-based M13.
This round was M13's first investment in a Latin American startup. M13 partner Brent Murri told TechCrunch that the firm started building its thesis on the region two years ago, but hadn't found the right company, team or terms to invest until they met Vambe's team at the Berkeley Skydeck accelerator.
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