Resolver.co.uk has secured funding of £2.8 million to make it easier for consumers to complain about brands and companies.
The independent website was set up in 2014 by James Walker to enable consumers to raise concerns with brands, companies and organisations in an effective way. The site helps individuals resolve issues and seek re-payments or compensation where necessary. According to resolver.co.uk, “65 percent of cases offered a resolution” with many consumers receiving hundreds of pounds of compensation.
In a statement, the company said “in our first institutional investment round parent company Resolving Limited has now secured funding from Draper Esprit and Imperial Innovations to allow it to double our team and invest in new technologies such as artificial intelligence and machine learning.”
The website’s founder Mr Walker commented:
“What we have done so far with a small but extremely dedicated team is awesome. We have made real tangible impacts on a range of industries and our presence has encouraged better customer service in many sectors. That’s down to the hard work of everyone at Resolver and shows why our funding round was so popular and oversubscribed.
“But there is much more to do. By the end of 2016, we expect to have resolved issues worth more than £100m and this initial round of institutional investment allows us to focus on increasing our user base. We will also put in place new emerging technologies to automate many processes that make raising cases faster and help us and the consumer to predict the likelihood of a resolution and what it may be. We also have plans to expand internationally.”
Resolver currently hosts around 556,000 of individual registered users and initiates an average of 1,500 new cases each day according to its figures. The website currently attracts more than 600,000 visits each month.
