Rillet
Comment: In accordance with the Wikimedia Foundation's Terms of Use, I disclose that I have been paid by my employer for my contributions to this article. SashaAtRillet (talk) 19:57, 10 July 2026 (UTC)
Rillet is an American financial technology company that develops enterprise resource planning (ERP) and accounting software designed to serve the needs of finance and accounting teams. The company is headquartered in San Francisco, California, and has additional physical offices in New York, New York and Barcelona, Spain.[1][2]
Rillet was founded in 2021 by Nicolas Kopp and Stelio Modes.[3] Kopp previously served as U.S. chief executive of the digital bank N26. Modes previously worked on N26's payment infrastructure.[3][4] According to the founders, Rillet was started after experiencing delays in obtaining financial reporting data during their time at N26.[1]
In July 2024, the company announced a $13.5 million seed and pre-seed funding round from First Round Capital, Creandum, and Susa Ventures, which Axios reported as an exclusive.[5][1] In May 2025, the company raised a $25 million Series A round led by Sequoia Capital.[1] According to TechCrunch, Sequoia partner Michael Bek said that roughly a third of Rillet's deals came from customers replacing NetSuite or similar systems, a factor in the firm's decision to invest.[1]
Approximately three months later, in August 2025, by a $70 million Series B round co-led by Andreessen Horowitz and ICONIQ Capital, with participation from Sequoia Capital, Oak HC/FT, and FOG Ventures, according to Reuters.[2] The round brought Rillet's total disclosed funding to over $100 million within about a year.[2][3] Reuters reported that a source close to the deal valued the company at approximately $500 million; Rillet did not publicly disclose a valuation.[2] Andreessen Horowitz general partner Alex Rampell and ICONIQ general partner Seth Pierrepont joined Rillet's board as part of the round.[2]
Rillet positions its software as a replacement for legacy ERP platforms, such as Oracle NetSuite, Sage Intacct, and Microsoft Dynamics, and as a next step for firms that have outgrown the capabilities of platforms like Intuit QuickBooks and Xero.[3][2] According to TechCrunch, the platform draws data directly from customers' banks and connected software such as Salesforce, Stripe, Ramp, Brex, and Rippling to generate financial statements including the balance sheet and income statement.[1] TechCrunch also reported that Rillet competes with NetSuite and other legacy platforms, and distinguished it from AI accounting startup Digits, which exclusively targets small businesses using QuickBooks and Xero rather than mid-market companies.[1]
According to company statements, the platform integrates with payment processors and customer-relationship-management software to automate accounting workflows, including journal entries, bank reconciliations, and revenue recognition.[6]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 Temkin, Marina. "Rillet raises $25M from Sequoia to automate general ledger systems using AI." TechCrunch, May 28, 2025. https://techcrunch.com/2025/05/28/rillet-raises-25m-from-sequoia-to-automate-general-ledger-systems-using-ai/
- ↑ 2.0 2.1 2.2 2.3 2.4 2.5 Soni, Aditya. "AI accounting startup Rillet raises $70 million in Andreessen Horowitz, ICONIQ-led round." Reuters, August 6, 2025. Syndicated at Yahoo Finance: https://finance.yahoo.com/news/ai-accounting-startup-rillet-raises-113240804.html
- ↑ 3.0 3.1 3.2 3.3 Prosser, David. "Meet The Start-Up Taking On The Accounting Software Incumbents." Forbes, August 6, 2025. https://www.forbes.com/sites/davidprosser/2025/08/06/meet-the-start-up-taking-on-the-accounting-software-incumbents/
- ↑ Cite error: Invalid
<ref>tag; no text was provided for refs namedglobenewswire - ↑ "Exclusive: Accounting automation startup Rillet raises $13.5M." Axios, July 29, 2024. https://www.axios.com/pro/fintech-deals/2024/07/29/accounting-automation-rillet-13-million [note: Axios Pro is subscription-gated; I could only see the lede in search results — verify full content before citing claims beyond the funding amount]
- ↑ Crunchbase News. "Fintech Startup Rillet Lands $70M Series B From a16z, Iconiq Just 12 Weeks After Last Raise." August 6, 2025. https://news.crunchbase.com/fintech/startup-rillet-ai-seriesb-a16z-iconiq/
Cite error: <ref> tag with name "pymnts" defined in <references> is not used in prior text.
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