UR-LI (YUR-LI) has raised 13 million rubles from private investors of the IZBA VC syndicate, Renata George, CEO of IZBA VC, told RB.RU. The project estimate is not disclosed.
The main product of the startup is an analytical system that allows evaluating the solvency of legal entities. UR-LI uses machine learning to accurately determine the amount allowed for a secure transaction, as well as the probability of a refund.
According to the company, the bad debts of Russian companies amount to more than 4 trillion rubles and continue to grow.
The UR-LI system is built on the basis of “decision trees” and uses 38 interrelated data types. Financial and event analyzes are used: the behavior of a counterparty with creditors in the past and the determination of the probability of bankruptcy of a company in the future.
This allows business owners and purchasing services to discuss risks and working conditions with suppliers, CFOs, to avoid bad debt write-offs.
As reported, the solution has been tested in several Russian banks and large companies operating in the construction and manufacturing sectors. The funds raised will be used to scale: IT and sales.
- The founders of the project are Valery Mayushkin and Anton Morozov. Mayushkin has been selling trust legal services for more than seven years, Morozov has been developing and implementing long-term e-commerce strategies using Big Data. YUR-LI is a resident of Innopolis SEZ and the Skolkovo Foundation Information Technology Cluster.
- IZBA VC is a venture platform that provides a suite of services to startups, private and institutional investors, and corporations.
Author:
anastasia mariana
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
