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Equifax backs $14.65M funding into utility payments firm Urjanet

Urjanet, an Atlanta-based utility account aggregator, said it raised $14.65 million in Series D funding led by Equifax.

The funding is backed by existing investors Oak HC/Pete Kight, Grotech Ventures and Correlation Ventures. Proceeds will be used to grow the platform across consumer and commercial platforms, develop new products and accelerate the transition from manual processes to fully digital.

"With the Equifax investment in Urjanet, we are emphasizing the importance of both alternative data sources and digital payment experiences in the financial health of consumers and businesses," Sid Singh, president of United States Information Solutions at Equifax, said in a release from Urjanet. "Erasing the problem of thin credit files or credit invisibility requires businesses to understand that consumers are more than a credit score."

Urjanet now offers a product called Urjanet Utility Bill Capture for Payments, which allows recurring monthly utility and telecom bill payment at a time when fewer consumers are able to pay face to face.