Salient, a San Francisco company operating in the consumer finance space, announced a $60 million capital injection from investors including a16z and Y Combinator. The company’s platform leverages generative AI to automate loan servicing. Its new capital will help to expand its solution.
Salient’s platform equips lenders and financial institutions with tools for automating collections, compliance monitoring and customer communications. Its AI-native loan servicing ecosystem has processed more than $1 billion in transactions since Salient’s launch in 2023. The company counts businesses including Westlake Financial, American Credit Acceptance and Exeter Finance among its customers.
The Salient platform manages complex downstream workflows while helping financial institutions maintain regulatory compliance. Backed by its fresh capital, Salient plans to add new capabilities to its product suite. The company will incorporate credit dispute resolution, title management automation and complaint fielding tools with the new funding.
