Relief

The company's primary offering is a mobile application, Relief.app, that assists consumers in resolving past-due unsecured debts, primarily credit card balances and personal loans. The platform uses artificial intelligence and the principle of collective bargaining to negotiate with creditors on behalf of its users to reduce the principal balance owed. After a user links their financial accounts, the app analyzes their situation, identifies overdue debts, and automates the negotiation process to secure settlements, which can result in balance reductions of up to 50% or more. The service is targeted at individuals who are behind on payments, typically 60-90 days past due. Additionally, the app provides tools and guidance for applying for federal student loan repayment and forgiveness programs.

Relief's business model is centered on accessibility and user benefit. Initially, the service is free for the consumer; the company generates revenue through multiple streams. It charges a one-time, transparent platform fee based on the estimated savings when a balance reduction request is successfully submitted to a creditor. For access to its federal student loan tools, it offers an annual subscription. The company may also receive referral incentives from third-party partners for services like payoff loans. A key part of its model is a neobanking service where users set up a dedicated FDIC-insured bank account to save funds for negotiated settlements. This structure allows Relief to operate without charging the high fees often associated with traditional debt settlement services.

The company has achieved significant milestones, securing a $2 million seed round shortly after its inception, followed by a $15 million Series A round in 2022, bringing its total funding to $17 million. The Series A was led by Nava Ventures with participation from notable investors like former American Express CEO Ken Chenault and former Citigroup CEO Vikram Pandit. In 2025, Relief announced a strategic investment and commercial partnership with National Debt Relief, the largest debt settlement company in the U.S., to expand digital access to debt resolution solutions. The app has enrolled over 150,000 users, representing billions in consumer debt, validating the demand for its technology-driven approach to financial wellness.