AI Debt Collection Startup JustSolve Secures €3.7M Funding

JustSolve, an innovative Italian startup leveraging artificial intelligence for debt recovery, has successfully closed a €3.7 million pre-seed funding round. The significant capital injection, comprising €3 million in equity and €700,000 in grants, was spearheaded by prominent US venture capital firm Base10 Partners. The round also saw participation from a strong syndicate of investors including Entourage, 2100 Ventures, Vento Ventures, and Ithaca, underscoring robust confidence in JustSolve's disruptive approach to financial operations.

Founded in 2024 by CEO Alberta Trombetta and CTO Francesco Manicardi, JustSolve emerged from Vento's venture builder program, Reef. Initially exploring legal dispute resolution, the founders pivoted to address the pervasive challenge of managing and recovering unpaid debts after identifying a critical market gap. Their solution centers on an AI-powered platform designed to automate the pre-litigation debt collection process, a segment often characterized by manual inefficiencies and high operational costs.

The core of JustSolve's technology lies in its autonomous AI agents. These agents are engineered to manage the entire lifecycle of debt recovery, from initial outreach to formal communications and escalation. The platform integrates seamlessly across multiple channels, including email, SMS, WhatsApp, phone, and traditional mail, dynamically adapting communication tone and strategy. Furthermore, it facilitates negotiation, payment scheduling, and provides real-time analytics, with a notable first-in-industry integration of certified email (PEC) into the automated workflow.

This advanced automation is particularly beneficial for businesses grappling with high volumes of small-value outstanding debts. Early adopters like Scalapay, Qomodo, and Subbyx have reported substantial improvements, with JustSolve claiming recovery rates up to double those achieved through traditional methods. The company estimates that its automation capabilities can save client companies over 20,000 work hours annually, equivalent to freeing up approximately 12 full-time employees.

The operational metrics highlight JustSolve's rapid ascent. Within its first year, the company has experienced triple-digit quarter-over-quarter growth without a proportional increase in operational expenses. Currently, the platform handles around 1,000 debtor conversations daily and manages a portfolio exceeding 2 million outstanding debts. For more recent debts, recovery rates within the initial 30 days have reportedly doubled, showcasing the efficacy of their AI-driven strategy in a market ripe for digital transformation.

The influx of capital will fuel JustSolve's expansion, with plans to grow its team from 6 to 20 professionals. This strategic hiring will bolster its engineering, sales, and operational capabilities as it aims to capture a larger share of the underserved debt collection technology market. The company's focus on automating a traditionally labor-intensive process positions it as a key player in the fintech sector, addressing a fundamental pain point for businesses across various industries.