France-based Cleavr has raised EUR 8 million in a seed round led by Varsity to expand its AI-powered accounts receivable platform.
The round also includes existing investors Kima Ventures and Better Angle, together with several European funds, such as Portfolio Ventures, Kerala, and Financière Saint James. The financing comes six months after the company closed a EUR 1 million pre-seed round in March 2026. Cleavr plans to use the new capital to solidify its sales team and continue product development as it pursues further growth in Europe.
Founded in 2025, Cleavr automates the full invoice collection cycle. Once an invoice is issued, the platform identifies the relevant contacts, sends reminders via email, phone, or SMS, tracks payment commitments, and escalates disputes. Human interference is only needed at selected stages, leaving almost the entire process of accounts receivable management to be handled by AI.
Addressing late payments in accounts receivable
The company positions its offering against a persistent problem for European businesses. In France, overdue payments contribute to nearly a quarter of business failures and lock up several billion euros in cash each year. Despite this, invoice collection at many organisations remains largely manual and is often spread across multiple legacy tools.
Cleavr states that its customers have reduced their days sales outstanding (DSO) by an average of 37% within their first few weeks on the platform and have collected 40% more cash. Finance teams have also recovered 80% of the monthly time previously spent chasing payments. Baptiste Nassoy, co-founder and CEO of Cleavr, described collections as repetitive work that diverts finance teams from higher-value tasks.
The platform connects to ERP systems and accounting software, and the company says it can be configured to each organisation's internal processes within days. Arthur Guérin and Antoine Grenard, co-founders of Cleavr, said the model involves no activation fees or locked-in licences, with customer retention tied to faster cash collection rather than contractual commitments.
Expansion across European markets
Cleavr reports more than 100 customers across multiple industries and a 0% churn rate since launch. The company is commercially active in France, Spain, Germany, Belgium, Italy, and the UK, processes several billion euros in invoices annually, and sends reminders worldwide on behalf of its customers' international clients.
The funding reflects investor interest in agentic AI applied to finance operations, an area where back-office functions such as accounts receivable have seen limited automation.
For the B2B payments ecosystem, the round illustrates how AI-native tools are targeting the gap between invoicing and settlement, where delays affect working capital and liquidity for companies of all sizes.
