Pair Finance raised €2 million

Pair Finance, a Berlin, Germany-based digital debt collection outfit, has closed a €2 million ($2.2 m) seed round.

The money was raised from existing investors finleap, online fashion portal Zalando, and the venture capital company Yabeo participated in the capital increase. Ex-Deutsche Bank PFK board member Ralph Mueller has also joined the round.

The company will use the new capital to invest in the development of new products along the value chain and improve the AI algorithms driving the debt collection platform.

Pair Finance, founded in 2016 by Stephan Stricker, offers digital debt collection services based on artificial intelligence, enabling companies to collect outstanding receivables more efficiently compared to traditional methods.