~/portfolio / active / kleva
Kleva
AI agents that collect debt across LatAm with 25% better recovery at 70% less cost. Compliant in six countries from day one.
Debt collection in LatAm is a $XX-billion workflow done with the same call centers it used in 1995. Kleva replaces the human collector with AI that calls, texts, emails, and chats (handles disputes, promises to pay, documentation) end-to-end through resolution. 25% more recovered. 70% less cost.
Why I backed it
Boring industry, monstrous TAM. Every bank, every fintech, every BNPL provider in LatAm has a collections problem. The buyer is the CFO, not the CTO. Sales motion is straightforward: “we recovered 25% more for [reference customer]”. Numbers do the work.
Compliance as moat, country by country. Kleva is compliant in Mexico, Brazil, Colombia, Guatemala, Ecuador, Peru, each with different regulations on contact frequency, scripts, escalation. That regulatory layer is exactly the kind of moat I think actually holds in AI in LatAm. Every country adds switching cost.
The right kind of replacement. This is inhuman work, repetitive, scripted, emotionally draining. Replacing it with AI is the canonical “let humans do human things” move. The few humans left in the loop become managers and exception-handlers, which is the better job.
The bet
LatAm financial services is a sleeping giant for AI applications. Kleva is in the highest-leverage workflow with the cleanest unit economics. If they keep their cost-per-recovery curve heading down, they become infrastructure.
$ founders
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