Rillet, a fintech startup leveraging AI to overhaul traditional general ledger systems, has raised a $25 million Series A led by Sequoia Capital.
The company is aiming to replace legacy systems like NetSuite with a faster, smarter platform that automates core financial reporting tasks.
Cutting weeks down to hours
Founded by Nicolas Kopp, former U.S. CEO of N26, Rillet uses generative AI and machine learning to streamline the creation of balance sheets, income statements, and more by pulling data from services like Stripe, Salesforce, Brex, and Rippling. The system enables finance teams at mid-sized companies to close books in a matter of hours—compared to the weeks traditional software requires.
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Rapid growth and high-profile clients
In just a year since launch, Rillet’s revenue has grown 5x and attracted nearly 200 customers, including unicorns like Windsurf and Decagon. According to Sequoia’s Julien Bek, the startup is increasingly being chosen over NetSuite, marking a key signal of market disruption.
A faster switch
Migrating financial data between systems used to take months, but Rillet claims it can now complete the transition in as little as 4–6 weeks—reducing friction for growing companies. Its unique edge lies in being one of the few platforms applying AI to general ledger automation at the mid-market level.
Funding momentum
This new round follows a previous $13.5 million seed round backed by First Round Capital, Creandum, and Susa Ventures. Rillet plans to use the funding to scale its customer base and expand product capabilities.
