€8m · Seed · Fintech · Paris, France
Paris-based Cleavr has raised €8m in a Seed round led by Varsity, six months after announcing a €1m pre-seed. Existing investors Kima Ventures and Better Angle returned, while 100IN, Portfolio Ventures, Kerala Ventures, Financière Saint James, Station F, Clover and business angels from Datadog and Convelio also joined. The company says it will use the capital to expand across Europe, strengthen its sales team and continue product development.
Cleavr connects to a customer's ERP and takes over the work between issuing an invoice and collecting the cash. Its software identifies the relevant debtor contacts, sends reminders through channels including email and SMS, interprets replies, tracks promises to pay, flags disputes and reconciles incoming payments. The ERP remains the system of record, while finance teams intervene in exceptions rather than running every follow-up manually.
The product has to convert activity into cash
Accounts-receivable tools often help teams see overdue invoices but still leave the operational work to people. Cleavr's commercial wager is that an AI system can execute more of that workflow, adapting the timing and tone of contact to each debtor while keeping actions traceable. If it works reliably, the value is not simply fewer administrative hours: faster collections shorten the gap between reported revenue and usable cash.
That outcome is also the product's retention mechanism. Cleavr sells a subscription priced according to company size and receivables volume, rather than taking a commission on recovered amounts. Customers can therefore compare the software's cost with measurable changes in collection speed, cash received and staff time. The company says clients have reduced days sales outstanding by 37% on average, collected 40% more cash and cut manual reminder work by 80%. Those are company-reported figures, not independently audited results.
European expansion raises the integration bar
Cleavr says more than 100 companies adopted the platform during its first seven months, with no churn, and that it now processes several billion euros of invoices annually. It has expanded from France into Spain, Germany, Belgium, Italy and the UK and plans to hire 20 people across sales, product and technology.
That footprint makes integration and control central to the next phase. Collection workflows sit across ERP data, customer communications, disputed invoices and payment matching; scaling them across markets adds languages, business practices and regulatory contexts. Cleavr says it supports more than 20 native integrations, can deploy in 24 hours, hosts customer data in the EU and holds ISO 27001:2022 certification. The Seed round gives the company resources to extend that infrastructure, but the operating test is whether it can preserve collection outcomes and customer trust as its client base and geographic coverage grow.
Sources checked:
Cleavr announcement · Tech.eu · Cleavr FAQ · Cleavr security · Varsity portfolio · Tech.eu Funding Explorer
