sunbay.io raises €550K to automate invoice collection for finance teams

Overview

Warsaw-based sunbay.io raised 550,000 euros (about 2.33 million Polish zloty) in a round led by Kogito Ventures, with backing from s20 and a group of angel investors. The startup sells software that automates accounts receivable, the job of chasing money owed on overdue invoices, using email, SMS, and AI voice calls. The company already serves more than 20 businesses across five countries and plans to spend the new capital on product development and added AI agents.

Key Takeaways

sunbay.io raised 550,000 euros in a funding round led by Kogito Ventures, an early-stage venture firm based in Warsaw.
The platform automates accounts receivable, sending payment reminders by email, SMS, and AI voice calls and managing escalations on its own.
It already works with more than 20 businesses in five countries, collecting payments from customers in 30 markets.
Named angel backers include Jostein Havaldsrud, chief technology officer of the learning-game company Kahoot.
The product stores customer and receivables data inside the European Economic Area and follows GDPR, with no transatlantic data transfers.
Management plans to use the money on product development and future AI agents that handle more collection work without human input.

Stats & Key Facts

#550,000 euros raised in the funding round, equal to about 2.33 million Polish zloty.
#More than 20 businesses use the platform as paying clients.
#5 countries where those client businesses operate.
#30 markets where the tool collects payments from end customers.
#3 co-founders built the company: Filip Szczecinski, Dawid Dzierzynski, and Nikodem Cabala.

What sunbay.io Does for Finance Teams Chasing Late Payments

The product targets one specific finance chore: getting paid for invoices that are past due.

Accounts receivable is the work a finance team does to collect money customers owe on invoices. When a bill goes unpaid, someone has to send reminders, make calls, and track who has paid and who has not. sunbay.io takes over that follow-up so staff do not have to do it by hand.

The software connects directly to a company's invoice data and then runs the chasing process on its own. It sends reminders, escalates when bills stay unpaid, and matches incoming payments to the right invoices. The goal is to turn an open invoice into collected cash with less manual effort.

Email, SMS, and AI Voice Calls Replace Manual Follow-Up

The platform reaches late-paying customers across several channels and adds a payment portal.

›Automated reminders go out through email, SMS, and AI voice calls.
›The system manages escalation steps, such as interest notes, when a bill stays unpaid.
›A branded payment portal lets customers settle what they owe in one place.
›Credit-scoring and payment-behavior signals flag which clients pose a payment risk.
›A human-in-the-loop step keeps people involved for decisions needing judgment.

Who Led the 550,000 Euro Round

The capital came from a Warsaw venture firm plus angels with startup credentials.

Kogito Ventures led the round. The firm is based in Warsaw, was founded in 2016, and focuses on early-stage business-to-business technology startups in Central and Eastern Europe. The investment fund s20 also took part, alongside a group of individual angel investors.

Among the named angels is Jostein Havaldsrud, the chief technology officer of Kahoot, the company behind the widely used classroom quiz game. The full round equals about 2.33 million Polish zloty, the figure reported in Polish business coverage.

Early Traction Across Five Countries and 30 Markets

The startup has paying customers before this raise, not after it.

sunbay.io already works with more than 20 businesses spread across five countries. Through the tool, those clients collect payments from their own customers in 30 markets. That spread suggests the product handles cross-border collection, where chasing payment across different languages and rules is harder than within one country.

Early paying customers give the company evidence the tool works before it spends fresh money on growth. For a small round of this size, existing traction matters more than headline valuation.

European Data Storage and GDPR as a Selling Point

Where customer records sit is part of the pitch to European finance teams.

The company keeps customer and receivables data inside the European Economic Area and follows GDPR, the European data-protection rulebook. It states there are no transatlantic data transfers, meaning records do not leave Europe for servers elsewhere. For finance teams worried about where sensitive payment data lives, this design choice answers a common compliance concern and sets the product apart from rivals that route data through other regions.

Where the New Money Goes and the Founders Behind It

The plan centers on product work and more autonomous AI.

Co-founder Filip Szczecinski said the idea came from a complaint he heard repeatedly from finance leaders, who told him plainly that they hated working with invoices. He built the company with Dawid Dzierzynski and Nikodem Cabala to remove that burden.

Management plans to spend the new capital on product development and on expanding the platform. That includes predictive insights and future AI agents designed to handle more of the collection work without a person stepping in each time. The direction points toward software that runs more of the receivables cycle on its own over time.

Frequently Asked Questions

What does sunbay.io actually sell?

It sells software that automates accounts receivable, the work of collecting money owed on overdue invoices. The tool sends reminders by email, SMS, and AI voice calls, manages escalations, and offers a branded portal where customers pay.

How much did sunbay.io raise and who led the round?

The company raised 550,000 euros, about 2.33 million Polish zloty. Kogito Ventures led the round, with participation from the fund s20 and a group of angel investors.

How many companies use the platform?

More than 20 businesses across five countries use sunbay.io. Through the tool, those clients collect payments from their own customers in 30 markets.

Where does sunbay.io store customer data?

It keeps customer and receivables data within the European Economic Area and follows GDPR. The company states there are no transatlantic data transfers.

What will the company do with the funding?

Management plans to spend the money on product development and platform expansion, including future AI agents that handle more collection tasks without human input.

The raise gives a young Warsaw startup capital to grow a tool that takes a tedious finance task off people's hands. With paying customers already in place across several countries, sunbay.io is betting that automated, GDPR-compliant invoice collection has room to expand across Europe.