Fintech Startup Rillet Secures $70M in Series B Funding
Rillet, a pioneering fintech company, announced on Wednesday that it has successfully raised $70 million in a Series B funding round. This investment was co-led by well-known venture capital firms Andreessen Horowitz and Iconiq Capital.
Rapid Growth and Continued Investment
This significant funding comes just 12 weeks after Rillet’s previous investment round, where it was backed by Sequoia Capital, along with OAK HC/FT and existing investors. Over the past year, Rillet has raised more than $108.5 million, positioning itself as a formidable player in the fintech sector. While the exact valuation remains undisclosed, sources suggest it is approximately $500 million.
A Cutting-Edge Solution for Financial Teams
Co-founded by Nicolas Kopp, who previously served as the CEO of N26, Rillet offers an AI-native ERP solution designed specifically for financial directors and accounting teams in high-growth companies. Rillet’s software integrates seamlessly into a company’s technological stack and employs artificial intelligence to automate critical accounting workflows such as accruals, bank reconciliations, revenue recognition, and investor reporting.
Doubling Revenue and Accelerated Growth
Nicolas Kopp commented on the rapid pace of growth, stating, “It was time to make the Series B funding round move quickly. Our revenues have doubled over the past 12 weeks since the Series A, and this new funding round was a logical step to fuel our growth.” This aggressive expansion is a testament to Rillet’s innovative approach to financial technology.
Impressive Client Base and Demand
Rillet currently collaborates with over 200 companies, including notable names like Postscript, Bullfinch, and Lang.ai. While specific revenue figures have not been disclosed, Rillet’s growing customer base indicates increasing demand for its AI-driven financial solutions.
New Board Members and Strategic Vision
As part of the funding deal, Andreessen Horowitz General Partner Alex Rampell and Iconiq General Partner Seth Pierrepont will join Rillet’s board of directors. Pierrepont stated, “Rillet is not only modernizing accounting software, but they are redefining what financial teams can achieve when freed from outdated systems. Their AI-native approach provides a concrete advantage—enabling faster insights, leaner teams, and smarter decision-making.”
Looking Ahead: Future Plans for Innovation
Looking to the future, Rillet aims to expand its AI capabilities and deepen integrations within the financial technology landscape. The company’s objective is to create a collaborative platform where AI agents and human expertise work hand-in-hand to revolutionize how businesses understand and manage their financial performance.