Cleverbridge, a global billing provider and online retailer of software and SaaS, today announced a significant enhancement to its innovation roadmap, after being named the recipient of three technology grants, valued at up to €8 million, from the German government. This substantial investment shows Cleverbridge’s position and dedication to shape the digital game including in the AI-driven-space.
The grants, awarded through a competitive application process, will help drive a series of strategic efforts to elevate Cleverbridge’s platform. Important areas include a more flexible payment gateway, major improvements to subscription and billing functions, and a big upgrade to the company’s ability to take advantage of artificial intelligence (AI) technology.
Sweetening the pot Richard Stevenson, CEO, Cleverbridge, noted with additional grants like these will go a long way. “These grants are a strong validation of our product vision and mission of doing meaningful work,” said Stevenson. “This investment allows us to continue advancing our use of new technology in addressing some of the most difficult problems our clients face.
We’re creating the future of international commerce, the place versatile, AI-driven products and skilled providers work hand-in-hand to help eCommerce businesses develop over the long term.”
Cleverbridge already uses AI to process millions of transactions per year, with embedded AI functions throughout its platform to improve conversion rates, decrease chrun and make smarter business decisions.
Examples of how AI is used today range from advanced fraud detection and dynamic retries on payment recovery failures to predictive analytics and forecasting, real-time risk anomaly detection with real-time risk alerts and automated retention marketing.
For the future, Cleverbridge intends to bring more AI into their platform as they are already scoping out developments like AI-multivariate testing and agentic AI to enhance user and customer experiences.
With an all-star product team featuring members from the top tech companies including Stripe, Klarna and Spotify, Cleverbridge plans to change what it means to be a Merchant of Record.
In addition to its complete feature set that meets the unique needs of software and SaaS companies, Cleverbridge is trusted by thousands of businesses globally to acquire and retain more customers, and grow their revenue.
These grants are a major milestone in Cleverbridge’s commitment to attend to the complexity of cross-border digital commerce so that the clients can continue to deliver product innovation and an outstanding customer experience.
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