sunbay.io, a Warsaw-based fintech startup, has closed a €550,000 seed funding round to develop its automated invoice collection platform for finance teams. The round was led by Kogito Ventures, with participation from s20 and angel investor Jostein Håvaldsrud.
The startup addresses a persistent pain point in corporate finance: the manual, time-intensive process of collecting invoices and managing accounts receivable. Despite decades of digital transformation across business operations, many companies still rely on labor-intensive workflows to track down unpaid invoices and manage receivables—processes that directly impact cash flow and liquidity.
Automating Finance Operations
According to Filip Szczeciński, founder of sunbay.io, the company’s vision emerged from direct conversations with business leaders. “In our conversations with CFOs and CEOs, one sentence kept coming back: ‘I hate working with invoices.’ It wasn’t that companies didn’t know how to collect their receivables. The problem was that a process that directly affects their liquidity still depends on manual work. We built sunbay.io so that companies can automate this process on their own terms and bring the team in only where human judgement is actually needed,” Szczeciński explained.
The startup’s approach focuses on enabling finance teams to automate routine invoice collection tasks while preserving human oversight for complex situations requiring judgment and negotiation. This hybrid model seeks to eliminate administrative burden without sacrificing the interpersonal elements necessary for maintaining client relationships.
European Fintech Growth
The funding announcement reflects continued investor confidence in European fintech solutions addressing operational inefficiencies. Poland has emerged as a notable hub for financial technology innovation, with Warsaw attracting both early-stage founders and venture capital focused on enterprise solutions.
sunbay.io’s seed round follows a broader trend of fintech startups securing funding for tools that improve back-office operations. These solutions typically target mid-market companies and enterprise organizations where manual processes create significant productivity losses and cash flow challenges.
The involvement of Kogito Ventures, known for backing European B2B technology companies, alongside angel investor participation suggests confidence in the team’s ability to execute and scale the platform. The capital will support product development, market expansion, and team growth as the company works to establish itself within the competitive accounts receivable automation space.
Finance automation remains an area of active investment across Europe, as companies seek ways to improve operational efficiency without major organizational restructuring. sunbay.io’s focus on this specific workflow positions it within a growing segment of tools designed to modernize traditional financial processes that have resisted digital transformation.