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Axios
28-07-2025
- Business
- Axios
Exclusive: Loan servicing startup Salient raises $60M Series A
Salient, a San Francisco-based platform for lenders to automate the post-loan origination process, raised $60 million in Series A funding, it tells Axios Pro exclusively. Why it matters: Loan servicing remains highly manual, but banks are increasingly doubling down on tech in the area. Andreessen Horowitz led the round, joined by Matrix Partners, Michael Ovitz and Y Combinator. By the numbers: The deal values Salient at $350 million, Axios has learned. The company's annualized run rate was north of $14 million as of June 2025, some 18 months after its launch. Context: This comes as U.S. household debt hit $18.2 trillion in the first quarter, with 4.3% of that delinquent — the highest level in five years, according to the New York Fed. How it works: Salient uses generative AI to automate collections, customer service, and compliance monitoring — acting as a dashboard for lenders to track all their loans. Currently, "[lenders] have huge outsource firms that run compliance functions or call centers," says CEO Ari Malik. "What we're trying to offer is a more transparent way of seeing what's happening. Because if you outsource this whole process, oftentimes, lenders have no idea what's going on." Salient uses voice recognition to monitor customer service calls and flag violations of complex state or federal lending rules. For example, active service members are entitled to interest rates of 6% or below, and customers who wish to no longer be called must be marked. Failures can lead to steep fines. In addition to customer service, Salient's AI agent, with additional information from the customer, can complete insurance claims and get necessary paperwork from the lender — cutting down on time and complexity. Salient counts Westlake Financial and AutoNation among its customers. Zoom out: Malik is betting this automation can improve lender and customer experiences. "[The AI agent] needs to be predictive as to what the customer wants," he says. "Success is: 'Can you predict what they actually want to interact with you about, as opposed to starting everything from scratch?'"
Associated Press
30-04-2025
- Automotive
- Associated Press
U POWER Tech Unveils All-Electric Vehicle Solution at ACT Expo
SHANGHAI, April 30, 2025 /PRNewswire/ -- U POWER Tech, a global innovator in smart electric vehicle solutions, today showcased its complete lineup of urban logistics and specialty EV platforms at ACT Expo, North America's largest commercial vehicle event. This showcase marks a significant milestone for U POWER Tech's strategic expansion into North America, highlighting its groundbreaking skateboard chassis technology designed to transform the commercial vehicle sector. At ACT Expo, U POWER Tech introduced three purpose-built products: All products presented by U POWER Tech feature comprehensive electric and intelligent capabilities, offering commercial vehicle operators the industry's most advanced and customizable electrification solutions—catering precisely to their individual requirements. Leveraging innovation from Silicon Valley and supply-chain strength from China, U POWER Tech has built a robust global value chain covering key EV components such as batteries, motors, and controls. The company is already delivering products in North America, Europe and Africa, and the launch in ACT will further deepen its global expansion. U POWER Tech has secured substantial funding from investors including Matrix Partners, ZhenFund, and Bosch's Boyuan Capital, affirming the commercial viability and growth potential of its technology. 'ACT Expo marks a key milestone for us,' said Yao, General Manager of U POWER Tech North America. 'We're committed to delivering exceptional products while working together to build a zero-carbon logistics ecosystem that makes electric mobility both accessible and efficient.' As an industry disruptor, U POWER Tech is transforming electric vehicle development with its skateboard chassis technology. Leading the shift from traditional single-model to a shared-platform development, U POWER is redefining how commercial vehicles are built, scaled, and electrified. About U POWER Tech Established in 2021 in Shanghai and Silicon Valley, U POWER Tech specializes in smart EV solutions built on skateboard chassis technology, driving the automotive industry's transition toward standardized, platform-based electric vehicles globally. View original content to download multimedia: SOURCE U POWER Tech
Cision Canada
30-04-2025
- Automotive
- Cision Canada
U POWER Tech Unveils All-Electric Vehicle Solution at ACT Expo
SHANGHAI, April 30, 2025 /CNW/ -- U POWER Tech, a global innovator in smart electric vehicle solutions, today showcased its complete lineup of urban logistics and specialty EV platforms at ACT Expo, North America's largest commercial vehicle event. This showcase marks a significant milestone for U POWER Tech's strategic expansion into North America, highlighting its groundbreaking skateboard chassis technology designed to transform the commercial vehicle sector. At ACT Expo, U POWER Tech introduced three purpose-built products: UP VAN: Engineered specifically for last-mile delivery, the UP VAN is the world's most energy-efficient commercial Delivery Van, offering unmatched operational efficiency through longer range, reduced energy consumption, and optimized cargo space. It empowers logistics providers to drastically reduce operational costs and improve productivity in urban environments. UP Chassis Cab: UP Chassis Cab allows for easy upfitting. It meets rigorous European crash standards, ensuring safety and compliance, while providing a smart, flexible solution to businesses seeking rapid electrification of their fleets. UP Chassis: A highly versatile platform designed for multiple duty cycles and applications. UP Chassis meets the needs of many commercial and fleet customers, enabling fully electric, purpose-built solutions for demanding end users. All products presented by U POWER Tech feature comprehensive electric and intelligent capabilities, offering commercial vehicle operators the industry's most advanced and customizable electrification solutions—catering precisely to their individual requirements. Leveraging innovation from Silicon Valley and supply-chain strength from China, U POWER Tech has built a robust global value chain covering key EV components such as batteries, motors, and controls. The company is already delivering products in North America, Europe and Africa, and the launch in ACT will further deepen its global expansion. U POWER Tech has secured substantial funding from investors including Matrix Partners, ZhenFund, and Bosch's Boyuan Capital, affirming the commercial viability and growth potential of its technology. "ACT Expo marks a key milestone for us," said Yao, General Manager of U POWER Tech North America. "We're committed to delivering exceptional products while working together to build a zero-carbon logistics ecosystem that makes electric mobility both accessible and efficient." As an industry disruptor, U POWER Tech is transforming electric vehicle development with its skateboard chassis technology. Leading the shift from traditional single-model to a shared-platform development, U POWER is redefining how commercial vehicles are built, scaled, and electrified. Established in 2021 in Shanghai and Silicon Valley, U POWER Tech specializes in smart EV solutions built on skateboard chassis technology, driving the automotive industry's transition toward standardized, platform-based electric vehicles globally.
