Paraglide Secures $5 Million to Transform Accounts Receivable with Agentic AI

Paraglide, a European fintech startup, has raised $5 million in seed funding aimed at overhauling how businesses manage accounts receivable (AR). The investment round was jointly led by Bessemer Venture Partners and DN Capital, with additional support from Born Capital and The Nordic Web Ventures.

Designed for high-volume B2B finance teams, Paraglide deploys advanced agentic AI agents to automate the full spectrum of billing communications—from answering customer queries to chasing overdue invoices. This new technology promises to reduce Days Sales Outstanding (DSO), streamline operations, and bolster cash flow for mid-market and enterprise-level organisations.

Unlike many traditional accounts receivable software solutions that rely on one-way, repetitive reminders—often ignored by customers—Paraglide’s AI agents manage rich, two-way conversations. These agents not only reply to billing enquiries but can also follow up already established discussion threads with a personal, context-aware touch. This approach allows finance teams to achieve scale and efficiency previously unattainable through manual systems or static templates.

The company was founded by Rasmus Areskoug and Andreas Åström, former executives at GetAccept, who themselves grappled with the intensive, manual burdens of AR. Motivated by these challenges, they set out to modernise one of the most persistent pain points in enterprise finance. Paraglide’s early clients include notable firms such as Choco, Ardoq, and Spiideo, and the company has established partnerships with revenue automation provider Chargebee.

Initial results have been promising. Early customers reported achieving a 34 per cent reduction in DSO and reaching financial 'inbox zero'—meaning all accounts queries are addressed—in as little as one week after the solution’s deployment.

Rasmus Areskoug, Paraglide’s co-founder and CEO, noted:

"As a former CFO, I’ve seen finance teams drowning in billing queries and tirelessly chasing invoices with reminders that customers ignore. AI agents have already transformed customer support by automating high-volume, conversational work. That same shift is now coming to accounts receivable, where agents can handle billing conversations end to end and help businesses get paid on time."

The investment community is similarly optimistic. Alex Ferrara of Bessemer Venture Partners described Paraglide’s solution as a means to lower DSOs and free up finance teams to focus on more strategic projects. Meanwhile, Thomas Rubens at DN Capital called this "the year of the 'System of Action,'" emphasising that AI is now capable of executing complex workflows—well beyond mere observation. "Paraglide is defining this category by solving a critical organisational pain point, reducing DSO, and we are thrilled to back a team that combines unparalleled experience with technological velocity to fundamentally change how companies unlock cash and drive growth," Rubens said.

The newly raised funds will primarily support Paraglide’s expansion throughout Europe, where demand for AI-driven automation in finance operations is rapidly increasing. The move highlights both the region’s appetite for practical AI innovation and the broader trend of applying agentic AI to streamline core business functions.

Read the original article at tech.eu.