“FinTech” refers to new innovative approaches to traditional financial processes. Ranging from payment technologies to digital wallets, fintech solutions are disrupting the way the finance realm operates. Debt collection and credit management are some of the operations in the traditional financial world that innovative fintech solutions bring efficiency. Digitalizing and automatizing credit management help financial institutions to improve their balance sheets. Our startup spotlight guest this week is receeve from Germany. receeve is a fully customizable All-in-One Platform for debt collections & recovery. receeve simplifies the growing complexity of data and systems and empower in-house teams to automate processes easily, engage customers & apply 360° insights to maximize recovery and minimize risk across every stage of credit management - from pre-delinquency to portfolio assignment or sale. One Platform. A perfect balance of ease-of-use and power, receeve’s cloud-native, the no-code platform is fast to deploy, simple to manage, and easy to customize and expand. Bring together intelligence, strategy & operations in one place. Strategic Account Director Raoul van Lennep told us about their story.
Tell us about your team.
receeve is led by co-founders Paul Jozefak and Michael Backes, who have over 40 years of professional experience working in VC and fintech, and were formerly together at the Otto Group for seven years. receeve employs more than 60 people working remotely in over 20 countries in Europe and the rest of the world.
When and why did you found your startup
Both Paul and Michael worked together in the Otto Group leading the vision of the internal debt collection tool, and felt they could strive better and help clients improve their debt collection; hence receeve was created in Feb 2019.
What are your key and unique features?
Strategy builder creating more agile and robust workflows, machine learning to enhance debt collection processes by analyzing the data and the debtor behavior, and lastly, a customer-focused team to share best practices and create salient ties with our clients.
What is your startup’s stage?
We’re scaling our company; we have more than $150,000 monthly revenue.
Tell us about the numbers that matter to you.
25+ countries where clients use receeve as their trusted partner. Over €2 billion in claims successfully processed and growing fast. 42% Reduction in overall recovery time
What are your plans for the next year and the next 5 years?
To continue scaling and working with clients across the spectrum from financial institutions to fintech to companies needing to improve their debt collection strategy.
Did you raise funds before?
So far, we’ve raised $23,6 mn in total.
More about receive