Cleavr, a European fintech focused on automating accounts receivable operations, has closed a funding round of €8 million. The investment is led by Varsity, with participation from Kima Ventures, Better Angle, 100IN, Portfolio Ventures, Kerala Ventures, Financière Saint James, Station F, and Clover. Business angels from Datadog and Convelio also joined the round.
A Simple Founding Conviction
Cleavr was launched seven months ago with a simple belief: a company should be paid on time without spending its days managing customer accounts. The founding team identified accounts receivable as a repetitive and undervalued area of corporate finance. That conviction has since evolved into a European platform designed to act as an AI collaborator for finance teams.
European Momentum
Since launching seven months ago, Cleavr has built a customer base of more than 100 companies across logistics, transport, industry, construction, and technology. The company reports that no customer has churned, and it now processes several billion euros in invoices annually. Cleavr has also established operations in Spain, Germany, Belgium, Italy, and the United Kingdom.
In addition, Cleavr follows up with international clients of the companies it supports across the world. This cross-border collection capability adds meaningful value for businesses that trade globally, because it reduces manual coordination across time zones and languages. The platform's growing geographic footprint reflects its ambition to serve European companies with international operations.
Addressing a Critical Cash Flow Challenge
For European companies, getting paid is not an administrative detail, because invoices fund salaries, operating costs, and growth. Late payments are responsible for nearly 25% of business failures in Europe. Despite this, many firms still manage accounts receivable manually through fragmented and outdated tools, which consumes time and directly pressures cash flow.
AI-Driven Collections and Measurable Results
Cleavr operates as a finance team member by identifying the right contacts, sending email and SMS reminders, tracking payment promises, and escalating disputes. Teams only intervene when necessary, allowing them to focus on higher value work. In its first months, the platform helped clients reduce days sales outstanding by an average of 37%, increase cash collection by 40%, and recover 80% of the time previously spent on follow-ups.
A New Approach to Business Software
For two decades, companies have adapted to software, whereas AI now enables software to adapt to each organization. Cleavr customizes itself to every organization, ERP system, and internal process, with deployment completed within 24 hours. The product carries no activation fees and no annual commitment, so retention is driven by faster incoming cash.
Funding, Vision, and Hiring Plans
The new capital will accelerate Cleavr's European growth, strengthen its commercial teams, and support product development. Baptiste Nassoy, cofounder and CEO, said, "Collections is a repetitive task that nobody wants to do. By entrusting it to Cleavr, finance teams can finally focus on what creates value." The company plans to hire 20 people in the coming months across sales, product, and technology.
Cleavr's objective goes beyond improving accounts receivable management, because the company wants to eliminate late payment in Europe. The funding round confirms investor confidence in a model that combines rapid deployment with measurable cash flow benefits. As Cleavr scales its team and European presence, it aims to redefine how finance departments handle collections and unlock working capital.