Rivage raises €2.6M to expand payroll software across accounting firms

Parisian fintech startup Rivage has secured €2.6 million in pre-seed funding to bolster the expansion of its innovative payroll software targeted at accounting firms. This investment, led by Partech with participation from prominent angel investors, signals a significant push to modernize a crucial segment of the European financial services sector. The capital infusion is earmarked for enhancing platform functionalities and broadening its market reach within accounting practices. Rivage's software addresses a critical gap in the market, where over half of French employees' payroll and social security declarations are managed by accounting firms or outsourcing providers. The existing landscape is heavily dominated by legacy systems that often struggle to keep pace with the digital transformation agendas of both firms and their small and medium-sized business clients. Rivage aims to disrupt this by offering an open and interoperable platform designed to boost payroll managers' productivity and transform payroll data into a strategic advisory asset. The company's strategic focus on interoperability and automation is key to its appeal, positioning it as a modern, scalable alternative in a sector ripe for technological advancement. By streamlining complex tasks and adapting to evolving regulatory frameworks, Rivage empowers accounting firms to break free from outdated solutions and better serve their clients' growing digital demands. This initiative aligns with broader European efforts to foster digital sovereignty and promote homegrown solutions in critical economic sectors.