Cleavr, a Paris-based AI platform for automating end-to-end accounts receivable management, has raised €1M ($1.2M) in pre-seed funding led by Kima Ventures. The autonomous AI coworker connects to ERPs like Pennylane and Netsuite to handle multi-channel reminders, dispute resolution, payment reconciliation, and legal escalation. The capital will support expansion across France and into Europe starting late 2026.
France's Payment Crisis Sparks AI Rush
The raise arrives during France's worsening late payment crisis, where 94% of businesses face monthly cash losses from unpaid invoices. Separately, 86% report average delays of 49.7 days. Competitor Upflow raised $5M in April 2024 for payments expansion, while Chaser secured $6M previously. Cleavr differentiates with full-cycle AI autonomy beyond reminders.
Legacy Tools Cover Just 20% of AR
Traditional AR software automates only 20% of the process, leaving manual chasing, disputes, and litigation to teams. In France, 85% of companies encountered late payments in 2024, up from prior years amid economic pressures. This gap hits scale-ups and SMBs reliant on ERPs, where delays erode cash flow. Cleavr targets European firms in SaaS, healthcare, and services facing these chronic issues.
AI Coworker Handles Full AR Cycle
Cleavr's platform deploys an AI agent for the entire post-invoicing workflow: multi-channel outreach via email, SMS, WhatsApp, and AI calls; conversational analysis of debtor responses; automated negotiations and payment plans; reconciliation; and legal risk monitoring. Unlike Upflow's subscription focus or Chaser's SME reminders, Cleavr offers 24-hour ERP setup, multi-language support, and escalation to litigation. Customers like Greenly recovered €100K in the first month, while Pennylane gained +€100K monthly cash.
As Baptiste Nassoy, CEO, noted:
"bringing the level of rigor typically found in large finance departments to businesses of all sizes"
Traction Shows 37% DSO Reduction
Early results include -37% days sales outstanding (DSO), +40% cash flow acceleration, and -80% manual AR tasks across 50 clients including Skello, Swile, and Ramsay Santé. The platform pivoted recently from recovery-only to full-cycle automation, signing dozens of companies in weeks. ISO 27001 certification and EU data hosting ensure compliance for regulated sectors.
Kima Ventures Backs European Expansion
Kima Ventures led alongside Better Angle, Aonia Ventures, Super Capital, and angels like Raphaël Nahum (CFO, Pennylane) and Régis Samuel (CEO, MyUnisoft). This mix signals conviction in AI-driven AR for Europe's late payment woes, blending VC speed with fintech expertise. Partnerships like Pennylane integration validate the approach for scale-ups.
$3.84B Market Grows to $6.66B
The accounts receivable automation market stands at $3.84B in 2024, projected to reach $6.66B by 2031 at 11.64% CAGR. Competitors include Upflow ($22M+ total), Chaser ($6M), Receeve ($17M+), and Kolleno ($5.4M). France's 2026 e-invoicing mandate will unlock richer data flows, accelerating AI adoption. Cleavr positions as the autonomous agent for SMBs and scale-ups underserved by enterprise tools.
Europe Rollout Set for Late 2026
With deployments at 50+ clients, Cleavr plans deeper French penetration before European expansion late 2026. Upcoming features like automated payment schedules enhance workflows. The €1M fuels hiring and integrations amid regulatory tailwinds.