French fintech Cleavr has raised €8 million in a seed round to expand its accounts receivable automation platform across Europe. The round was led by Varsity, with participation from existing investors Kima Ventures and Better Angle, alongside Portfolio Ventures, Kerala and Financière Saint James.
The funding comes six months after Cleavr raised €1 million in a pre-seed round.
Founded by Baptiste Nassoy, Arthur Guerin and Antoine Grenard, Cleavr is developing an AI-native platform that automates the process of tracking and collecting outstanding invoices. The company is addressing a process that remains largely manual for many businesses, with payment collection often spread across several tools.
Once an invoice is issued, Cleavr's platform identifies the relevant contacts and manages follow-ups through email, phone or SMS. It also tracks payment commitments and escalates disputes, with human intervention reserved for cases where it is needed.
According to the company, customers reduce their days sales outstanding (DSO) by an average of 37 per cent within the first few weeks and collect 40 per cent more cash. Cleavr also says its platform reduces the time teams spend chasing payments by 80 per cent.
Collections is a repetitive, unrewarding task that nobody wants to do. By delegating it to Cleavr, finance teams can focus on higher-value work,
said Baptiste Nassoy, co-founder and CEO of Cleavr.
The company has attracted customers across a range of industries and is already commercially active in several European markets, processing several billion euros in invoices annually and supporting payment collection for customers operating internationally. Its platform is designed to adapt to different organisations, ERP systems and internal processes within days, without activation fees or locked-in licences.
The era of traditional SaaS is over: businesses used to have to adapt to the software. AI finally lets us offer ultra-personalisation at scale. Cleavr adapts to each organisation, each ERP and each internal process, within days. No activation fees, no locked-in licenses. What keeps customers is the cash coming in faster,
said co-founders Arthur Guérin and Antoine Grenard.
The new funding will support further product development, the expansion of the sales team and Cleavr's growth across Europe.
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