Receeve announced a seed-extension of €4 million backed by ABN AMRO.

Receeve, a Hamburg, Germany-based SAAS developer of a B2B debt collection platform, announced getting into an investment agreement for adding equity in a round closed at €4 million ($4.5M).

The money, which represents a second extension of its original seed round closed in 2020 at $4.4 million, was raised from the Dutch bank ABN AMRO. In May 2021 it extended its seed investment round to a total of $13.5 million.

The deal is part of a larger strategic partnership between the two, whereas ABN AMRO can now access Receeve’s platform get a unified view of the customer on top of their current technology.

Receeve, founded in 2019 by CEO Paul Jozefak and Michael Backes, developed a software solution that provides access to a digital debt servicing platform and aiming to replace outdated processes from the industry. The company works with customers from 12 countries and is specifically targeting industries that provide financing and subscription services such as banks, alternative lenders, utilities and telcos, and provides a digitisation and automation platform.

Receeve initially raised €1 million from Seedcamp and angel investors in 2019.