• ScribeUp raises $13 million to expand AI-powered recurring payment management
• Curql Collective leads funding alongside Mucker Capital and Service Ventures
• Platform serves more than 60 financial institutions
• Agentic AI enables identification of approximately 200,000 subscription billers
• Customers can cancel subscriptions, update payment methods and receive overdraft warnings
• Technology identifies potentially overpriced recurring services
• Funding supports recruitment, technology development and commercial expansion
• Banks face growing competition for customer financial relationships

Financial institutions risk losing valuable customer relationships to third-party fintech providers unless they help consumers manage the growing burden of recurring payments, according to ScribeUp, which has secured $13 million to expand its artificial intelligence-powered bill management platform.

The funding comes as subscriptions, buy now, pay later arrangements, insurance premiums and other automated payments place increasing demands on household finances, creating opportunities for banks and credit unions to strengthen customer engagement through more proactive financial management tools.

ScribeUp announced the Series A financing round to coincide with the Money20/20 conference in Las Vegas.

The investment comprises $10 million in equity and a $3 million venture debt facility, with Curql Collective, a fintech investment firm serving credit unions, leading the round. Mucker Capital and Service Ventures also participated.

Jordan Mackler, ScribeUp's co-founder, argued that consumers face an increasingly difficult challenge tracking payments across multiple providers and maintaining control over their financial commitments.

Consumers "really have no chance" of managing the expanding number of recurring payments without better technological support, he said.

Mackler believes financial institutions have a responsibility to help customers navigate the "recurring bills that have consumed the modern wallet."

Founded in 2020, ScribeUp provides recurring payment management infrastructure to more than 60 financial institutions, including credit unions, fintech companies and neobanks.

Its technology enables customers to identify subscriptions, cancel unwanted services and update payment methods directly through their banking applications.

It also provides proactive notifications when upcoming bills threaten to push account balances below zero, allowing customers to transfer funds before payments become due.

The company's expanding use of agentic AI has significantly increased its capabilities.

Previously, ScribeUp could track hundreds of common merchants. Its technology can now identify approximately 200,000 individual subscription billers.

AI agents can also analyze recurring charges to identify services that may no longer represent competitive value, highlighting potential savings opportunities for customers.

"The task of an individual is too cumbersome to optimize your bill relationship, and to make sure that you are paying what is necessary for the services that add value to your life, but not overspending," Mackler said.

"That's where we come in. We connect intelligence."

The investment reflects growing competition between traditional financial institutions and specialist fintech providers seeking to control customer-facing financial services.

Nick Evens, president and CEO of Curql Collective, said banks and credit unions increasingly recognize the importance of making digital banking more useful and connected to customers' everyday financial needs.

"We're excited to support ScribeUp as it addresses that opportunity by bringing [artificial intelligence]-powered bill control directly into the banking experience," Evens said.

He warned that institutions risk losing valuable customer relationships to consumer applications offering functionality that conventional banking platforms currently lack.

ScribeUp plans to deploy the new capital across recruitment, technology development and its commercial expansion strategy, with particular emphasis on strengthening its autonomous AI capabilities.

The company originated from a personal experience involving co-founder and technology chief Yohei Oka, who accumulated $350 in forgotten sports streaming subscriptions while studying at the Massachusetts Institute of Technology.

For Mackler, the episode exposed a fundamental weakness in financial services infrastructure as consumers increasingly entered automated payment relationships without adequate tools to oversee them.

"We're at the tip of the iceberg of connecting your bill life to the relevant actions that need to be taken," he said.