Debt Collection and Debt Collection Platform Receeve Brings Total Funding to $ 16 Million with ABN AMRO – TechCrunch

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The banking industry is undergoing a huge transformation and the way debt collection operations engage customers is becoming a big deal, especially with things like BNPL programs. Hundreds of billions of dollars have been invested in the digitalization of financial and other services in recent years, but debt collection operations remain very manual and archaic, resulting in frustration for customers and loss of money for service providers. Banks are facing this change and fintech startups appear to be facing it.

Back in May this year, To receive, a code-free SaaS startup that makes it easier for businesses to collect and collect debts (such as bad debts) increased its seed funding to $ 13.5 million with venture capital funds Seaya Ventures and 14W. Existing backers Mangrove, Speedinvest and Seedcamp participated in the expansion cycle, bringing re: ceeve’s total war chest to over $ 12 million.

With re: ceeve, business teams can automate processes throughout the credit management value chain. Its customers include banks, alternative lenders, utilities and telecommunications operators.

Since then, the startup has not rested.

It has now chosen ABN AMRO – the third largest bank in the Netherlands – as partner and investor, securing a start-up extension of € 4 million from the bank’s venture capital arm. So he is now sitting on $ 16 million.

Receeve and ABN AMRO Ventures also enter into a strategic partnership. This means that bank customers most vulnerable to indebtedness benefit from greater support.

ABN AMRO can now access the Receeve platform to get a “unified view” of the customer in addition to its current technology.

Paul Jozefak, CEO of receeve, said: “The two companies share a vision on delivering advanced data and digital solutions to create the best customer experiences. The commitment to innovation is reflected in ABN AMRO Ventures’ partnership with receeve to help forge the solution roadmap and be the leader in creating a better journey for the most vulnerable customers while providing tools to its employees to continuously improve their experience. . “

Hugo Bongers, Head of ABN AMRO Ventures, adds: “Receeve’s approach and growth trajectory immediately intrigued us. We look forward to working with the entire team to not only deliver great value to ABN AMRO, but we are delighted to partner as investors to fuel growth and expansion and build a market leader in Europe and beyond. “

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