Aryza’s Webio Acquisition Marks Milestone for EIT Digital’s Deep Tech Investment Strategy

Aryza, a global leader in Credit and Debt Lifecycle Management SaaS solutions, has announced its acquisition of Webio, an Irish startup that has emerged as a European leader in Conversational AI for credit, collections, and payments. The acquisition advances Aryza's strategy to expand its technological capabilities through artificial intelligence and represents a notable outcome for EIT Digital's portfolio of European digital ventures.

Founded in Ireland in 2016 as Wingnut Labs Ltd, Webio has dedicated itself to transforming how businesses communicate with customers-particularly in the sensitive areas of credit management and collections. The company’s conversational AI platform empowers financial institutions, online retailers, and utility companies across the UK and Europe to engage customers with empathy and flexibility. 

Whether customers want to ask questions, change payment dates, or establish new repayment plans, Webio’s blend of automated bots and live agents ensures a seamless, human-like experience.

Companies using Webio's technology have reported agent productivity improvements of up to 42%, positive conversation results increases of 71%, unwanted inbound call reductions of up to 64%, and operational cost reductions exceeding 70%.

Webio’s impressive rise has been fueled by a combination of innovation, strategic investment, and targeted support from European digital accelerators. In 2019, Webio joined the EIT Digital Growth Services to accelerate its international growth. Later, in 2020, EIT Digital provided additional support through its “Data Against Covid" initiative, receiving shares in Webio as part of this backing. This early involvement positioned EIT Digital as a crucial partner in Webio’s journey.

In June 2021, Webio raised €1.5 million in a pre-Series A funding round led by Finch Capital, setting the stage for even greater expansion. This momentum carried forward into 2022 when Webio announced a €3.8 million ($4 million) Series A round, once again led by Finch Capital, with support from Hambro Perks. Enterprise Ireland and EIT Digital continued to provide valuable guidance and support as committed early investors throughout these phases of growth and fundraising.

Commenting on this growth at the time, Cormac O’Neill, Co-Founder and CEO of Webio, noted: “We are growing at more than 100% year on year, and with this investment, we’re targeted to double our headcount in the next six months. I am confident that Webio will maintain its growth rate and may look to raise additional capital to enter new markets. There are very exciting times ahead for us. All I can say is: watch this space."

The acquisition by Aryza represents the culmination of this growth trajectory. 

For Webio, joining Aryza represents not just an acquisition, but a gateway to even greater impact. As O’Neill said: "Joining the Aryza Group marks an exciting new chapter for Webio, and we look forward to contributing to its ambitious vision. By combining our AI capabilities with Aryza’s established product portfolio and market reach, we’re in a strong position to enhance customer engagement and drive real innovation in financial services."

Importantly, this acquisition also marks a milestone for EIT Digital. Webio is the first company from the EIT Digital Equity Portfolio-comprising startups across more than 20 European countries-to achieve an exit.

“Webio’s exit is particularly meaningful for us, as it represents the very first one from our Equity Portfolio. It’s a powerful validation of our strategy to invest in and support high-potential European scaleups that transform industries through digital innovation. It also releases capital that we can now deploy into new ventures and initiatives," said Dénes Csiszár, Acceleration Manager at EIT Digital.

Adding to this, Diva Tommei, Chief Innovation and Investment Officer at EIT Digital, emphasized the broader significance: “At EIT Digital, we believe that Europe’s future competitiveness relies on nurturing deep tech startups that can solve complex societal and industrial challenges. Supporting companies like Webio, which combine advanced AI with a clear real-world impact, is exactly why we exist."