# Inicio AI

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/inicio-ai

- Industry: Software
- Headquarters: Coventry, UK
- Website: www.inicio.ai
- Total disclosed funding: $3.6M
- Latest round: Seed (Feb 13, 2025)
- Investors on record: 6

## About

Based in Coventry, UK, and founded in 2020, Inicio AI Ltd., a.k.a. Inicio AI operates as a financial technology company specializing in artificial intelligence solutions designed to streamline financial processes and enhance customer engagement. In April 2025, Inicio AI Ltd. raised GBP 2.6 million in seed funding from Mint Ventures, Angel Academe, Morgan Stanley, Haatch, Rigby Group, amd Midven, along with individuals and other unspecified investors. As of November 2024, Rachel Curtis is the CEO of the company. Inicio AI’s core product, a virtual agent named Budgie, facilitates the completion of detailed affordability forms, aiming to alleviate the stress and intimidation often associated with financial assessments. This product employs advanced conversational AI technology to create personalized and user-friendly experiences, allowing users to input their financial data in a judgment-free environment. The service is designed for a diverse customer base, including individuals in financial distress as well as businesses, financial institutions, and charities seeking to enhance their customer engagement and satisfaction levels. Inicio AI's offerings are tailored to the UK market, indicating a focus on addressing the specific financial challenges faced by consumers in this region. Inicio AI generates revenue through a subscription-based model that allows businesses and financial institutions to utilize their virtual agent service. Clients engage with the platform for a fee, which grants them access to Budgie and its accompanying functionalities, including personalized forms and benefits calculators. The pricing structure is built around partnerships with various organizations, allowing them to integrate the solution into their customer service systems.

The company will use the April 2025 funding to launch an FCA-regulated consumer affordability passporting service in the UK, expand its West Midlands headquarters, and hire additional staff for its technology and data teams.

## Funding rounds

- Seed, Feb 13, 2025, $3.6M — Morgan Stanley Investment Management, Future Planet Capital Regional, Rigby Group, Angel Academe, Haatch, Mint Ventures
- Seed, Dec 1, 2023 — Mint Ventures

## Investors

- Mint Ventures (https://capitalatlas.ai/funds/mint-ventures) — Seed
- Morgan Stanley Investment Management — Seed
- Future Planet Capital Regional (https://capitalatlas.ai/funds/future-planet-capital-regional) — Seed
- Rigby Group (https://capitalatlas.ai/funds/rigby-group) — Seed
- Angel Academe (https://capitalatlas.ai/funds/angel-academe) — Seed
- Haatch (https://capitalatlas.ai/funds/haatch) — Seed