Debt is not simply a financial issue; itis an emotional one – a reality that has motivated Rachel Curtis to found Inicio AI, with the aim to address the emotional barriers that prevent people from engaging with affordability assessments. Marred by anxiety, guilt, and fear, conversations surrounding affordability have been considered a taboo topic. For those who are already under financial pressure, assessments regarding their financial habits are often either delayed or avoided altogether. However, by recognising and addressing these barriers, there is an opportunity to create more open and supportive conversations around financial wellbeing. In doing so, individuals get faster access to support earlier, while also enabling institutions on an organisational level to connect more effectively and efficiently with customers, leading to better outcomes for all.

Using empathetic conversational AI, the company set out to make these assessments more accessible and less intimidating. Rather than replicating traditional forms or call‑centre interactions, Inicio AI developed Budgie, an AI designed to reduce emotional friction and help people engage with their finances on their own terms. Rachel notes that turning this human‑centred approach into a scalable business required more than technology alone, with participation in the 2023 Cohort of University of Edinburgh’s AI Accelerator providing early structure and support during a formative stage. 

Before the AI Accelerator, Rachel and her team began formulating this idea into an early product visual surrounding conversational AI. While the idea and the technology behind it showed real promise, they were facing the familiar challenges encountered by early-stage start-ups. Commercial traction was limited, profits were slow, and converting interest into partnerships proved to be difficult. 

Joining the AI Accelerator cohort, Rachel notes, brought about a marked change. It did not only provide validation of the idea, but an enriched environment in which the company could harness, test, and refine their approaches. 

The AI Accelerator proved to be an important juncture in Inicio AI’s journey. Through access to mentoring, expert guidance, and a strong network, the programme helped the team sharpen their value proposition and improve how they communicated and maintained further relationships with clients.  

One of the most important milestones they achieved during the programme was securing their first client, which gave them a valuable user case to demonstrate to future customers that their product worked and was worth investing in.

The company has also followed up on connections made during the Accelerator. One of these was Mint Ventures, who believed in Rachel's product, invested in the company, and has continued to develop along-term collaborative relationship, including using members’ expertise, helping to open doors and participating in future funding rounds.

Gillian Fleming, MD of Mint Ventures stated, “from the minute we were introduced to Rachel we believed in her vision and the clear fit our purpose led mission for societal impact. Curating the expertise of our members we add value at board level and support asks as the company grows. Our relationship with the AI Accelerator continues to grow through providing investor feedback for various cohorts.”

This commercial and investment win created a vital validation and a critical boost at an early stage.  

Equally important was the confidence that the programme helped build, particularly around pitching and negotiations, recalls the founder. Rachel remembers starting the programme unsure how to properly position her business effectively, but leaving with the clarity and confidence.

"By the end of the accelerator… I'd been taught how to articulate what we do, present really well. […] so much of what I do now, however many years on it is, was born out of those foundations.” 

Much of Inicio AI’s success can be traced back to the core foundations developed throughout the programme. 

Since completing the AIA programme, Inicio AI has come a long way. They have steadily built upon their early career momentum.  

From a commercial standpoint, the company has expanded beyond the debt sphere – traversing into the lending and wealth management markets, applying their technology across a broader range of real-world cases. Today, Inicio AI works with a growing portfolio of clients and what initially started with a single client in the programme, has now widened into a client base across several sectors.  

Talking about the company’s scale and reach, Rache lshared that they have completed a number of funding rounds, raising over £5 million. Growth has been a gradual process, allowing the team to develop and adapt internally whilst staying true to their vision and impact.  Since completing the programme, Inicio AI has also become FCA authorised, providing further validation of the company's approach and reinforcing the trust required to work with financial services organisations. Rachel notes that credibility and trust was a step-by-step process, starting with smaller use cases and gradually expanding into larger, higher-volume clientele.  Participation within the Accelerator provided a recognised mark of credibility, helping open doors to future opportunities. A direct outcome Rachel could point towards was their progression into the Morgan Stanley Accelerator which her company was introduced to during AIA, describing it as “a real jump up.” The programme also proved to have a practical effect in shaping the frameworks of how Inicio AI positioned itself, articulated its propositions, and made strategic decisions.  

When asked about what kind of advice she would like to pass onto future AI Accelerator cohorts, her message was direct and clear, “…engage, grab it with both hands, prioritise it. I know you're really busy. I know you're trying to do 20,000 things, but put in a little bit of investment now and share it with your team…you will get out of there what you put in. There are so many clichés about that, but it is so, so true. If you engage, you can get so much value from it.”

Her heartfelt advice echoes the core message of the Accelerator – it rewards participation, curiosity, and openness –not passive involvement. 

Looking forward, Rachel emphasises that her steadfast goal is to not make Inicio AI’s ambition widely recognised, but something to be widely relied upon.

“The biggest company that nobody's ever heard of, because our strategy is we power”

Rachel describes the vision to be quietly powering everything within fintech and financial markets –the best answer to affordability.  

With a stable growing base in the UK market, the company aims to work with bigger partners, higher volumes of clients, and potentially expand internationally.  

Today, Inicio AI demonstrates what it means to humanise AI in practice: technology that is designed around people, delivered responsibly, and scaled with care. It is a reminder that the most impactful innovation begins not with what AI can do, but with how it can better serve real human needs.