Rillet Raises $25M to Modernise Accounting with AI Automation
- Rillet raised $25M from Sequoia to automate general ledger systems for mid-sized companies using AI.
- The platform integrates with banks and business software, enabling real-time, GAAP-compliant financial reporting.
- Rillet’s AI tools cut month-end close from weeks to hours, attracting nearly 200 customers and rapid revenue growth.
Rillet, a three-year-old startup founded by former N26 U.S. CEO Nicolas Kopp, has secured $25 million in Series A funding led by Sequoia Capital.
The company is revolutionising accounting by automating general ledger systems using machine learning and generative AI.
Rillet’s platform integrates directly with banks and business tools like Salesforce, Stripe, and Ramp, automatically ingesting data to generate real-time financial statements—including balance sheets and income statements—at a fraction of the time required by legacy systems.
Thanks to its AI-powered automation, Rillet enables accounting teams at mid-sized companies to close monthly or quarterly books in hours instead of weeks.
The software streamlines revenue recognition, bank reconciliation, and multi-entity, multi-currency accounting, while providing built-in GAAP-compliant reporting and audit trails.
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Rillet’s AI assistant, Genie, can answer queries, generate reports, and even book journal entries, further reducing manual work.
Since launching last year, Rillet’s revenue has grown fivefold, with nearly 200 customers—including high-growth firms like Windsurf and Decagon—many of whom have switched from legacy platforms like NetSuite.
The new funding will fuel product development and customer growth as Rillet positions itself as the AI-native alternative to traditional accounting systems.
Edited by Annette George
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