Cleavr has raised €8 million in a seed round led by Varsity, six months after an earlier €1 million pre-seed raise, according to the funding report. Kima Ventures and Better Angle joined the seed round, along with other named investors. Cleavr says the capital will support its product, sales team and expansion across Europe.
How did Cleavr’s funding develop?
The report places the seed round six months after Cleavr raised €1 million in pre-seed funding. The latest round totals €8 million and was led by Varsity. Kima Ventures and Better Angle, both described as existing investors, also participated.
Portfolio Ventures, Kerala and Financière Saint James are also listed as participants. The source does not allocate portions of the round to individual investors or disclose other terms. Cleavr was founded by Baptiste Nassoy, Arthur Guerin and Antoine Grenard, according to the report.
What does the platform do?
Accounts receivable refers to money a business is owed for goods or services already supplied. Cleavr is developing an AI-native platform to automate tracking and collection of outstanding invoices. The report describes invoice collection as a process that often remains manual and may be spread across several tools.
After an invoice is issued, the platform identifies relevant contacts and sends follow-ups through email, phone or SMS. It can track payment commitments and escalate disputes, with people involved when needed. The source does not detail the system’s escalation rules or explain which tasks require human intervention.
What outcomes does Cleavr report?
Cleavr says customers reduce days sales outstanding, or DSO, by an average of 37 per cent within the first few weeks. DSO is a measure of the time taken to collect payment. The company also says customers collect 40 per cent more cash and teams spend 80 per cent less time chasing payments.
These are company-reported results; the source does not provide a sample size, comparison period or measurement method. It says Cleavr processes several billion euros in invoices annually and supports customers operating internationally. The report does not identify the customers or provide a breakdown by market or industry.
What will the new funding support?
Cleavr says it will direct the funding towards product development, expanding its sales team and growth across Europe. It is already commercially active in several European markets, but the report does not name those markets. No hiring figures, launch dates or expansion milestones are provided.
The platform is designed to adapt to different organisations, ERP systems and internal processes within days, the report says. Cleavr says it does not charge activation fees or require locked-in licences. The source does not describe contract terms or explain how implementation time varies between customers.
The next visible steps will be product development, sales expansion and the company’s stated European growth plan. The report leaves the timetable and target markets unspecified. Further information on customer outcomes and deployment would clarify how the platform performs as its reach grows.