Fintech Rillet announced Wednesday that it’s raised $70 million in a Series B funding round co-led by Andreessen Horowitz and Iconiq Capital.
Notably, the financing comes just 12 weeks after the Palo Alto, California-based startup raised $25 million in a Series A round led by Sequoia Capital, which also participated in the latest raise alongside Oak HC/FT and earlier backers. The 4-year-old company has now raised over $108.5 million over the past year. While Rillet did not disclose valuation, a source familiar with the deal told Reuters that it is around $500 million.
Co-founded by Nicolas Kopp, former U.S. CEO of N26, Rillet describes itself as an AI-native ERP, or Enterprise Resource Planning software, built for CFOs and accounting teams at high-growth companies. It integrates with hundreds of tools across the tech stack and uses artificial intelligence and machine learning to automate critical accounting workflows, such as accruals, bank reconciliations, revenue recognition and investor reporting.
“It was timely doing the Series B so quickly,” Kopp told Crunchbase News. “Revenue has doubled in the 12 weeks since Series A and this new round was pre-emptive — so it made sense to do it now to fuel the fire and all.”
Rillet works with over 200 companies, he said, declining to reveal hard revenue figures. Customers include Postscript, Finch, Laurel, Lang AI and Windsurf.
As part of the financing, Andreessen Horowitz general partner Alex Rampell and Iconiq general partner Seth Pierrepont are joining Rillet’s board.
“In our view, Rillet is not just modernizing accounting software, it’s redefining what finance teams can achieve when freed from outdated systems,” said Pierrepont in a written statement. “Their AI-native approach can give companies a clear edge: faster insights, leaner teams, and smarter decisions.”
Looking ahead, Rillet plans to expand its AI capabilities and deepen integrations across the financial technology stack. Its goal is to build “a collaborative platform where AI agents and human expertise work together to transform how businesses understand and manage their financial performance.”
Related Crunchbase query:
Related reading:
Stay up to date with recent funding rounds, acquisitions, and more with the
Crunchbase Daily.